Regarding the labor market, negotiations should be decentralized so that firms and workers can individually decide on the best means of adjusting to the changing circumstances of the global economy.
Critics have said that the problems were a result of the firm's decentralized business model and its difficulty supervising the company's fast-growing network of more than 13,000 brokers, which ranks it behind only Merrill Lynch, Morgan Stanley and Wells Fargo.
Dreux expanded rapidly as an industrial centre from the early 1960s largely as a result of Parisian firms decentralizing.
As large firms everywhere have decentralized, cities like Los Angeles have benefited by the rise of small, home-grown businesses, the study says.
A conventional wisdom in industry and academia is that firms suffer from decentralized procurement.
Wages are more flexible where bargaining is decentralized (being conducted at the firm level as opposed to the national/sectoral/regional level) and where the coverage of collective bargaining and the stringency of employment protection legislation are low.
We consider a decentralized decision-making environment in which a firm and its subcontractor make decisions on subcontracting heterogeneous orders for processing with private information.
The economy continued to depend heavily on decentralized, "unofficial" work done by casual workers in small firms and service industries (the so-called black-market economy), as well as on a handful of successful international entrepreneurs.
Nevertheless, our review of the economic arguments suggests that what is needed for efficiency is a system that allows decentralized wage setting (adaptation "across space", i.e., sectors, regions, firms) while keeping coordination to help the macroeconomic adjustment.
