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Economists' perspectives on leadership

Bolton, Patrick; Brunnermeier, Markus K.; Veldkamp, Laura

What is leadership to an economist? This article provides an overview of formal models of leadership in economics. After briefly reviewing the role of formal control rights and the delegation of authority, the article puts in perspective economic models that capture several key functional aspects of leadership. The article also outlines a conceptual framework that includes five key elements of leadership: vision, communication, execution, integrity, and empowering others.


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December 23, 2010


Handbook of leadership theory and practice : an HBS centennial colloquium on advancing leadership, ed. Nitin Nohria and Rakesh Khurana (Boston : Harvard Business Press, 2010), pp. 239-264.