Mancinelli, Susanna; Miceli, Maria Augusta - Dipartimento di Economia e Diritto, Facoltà di Economia - 2001
based on an actual share of profit. Although the incentive role of profit sharing in contracts is an established result, we … added the possibility of profit sharing in the classical principal-agent incentive model. Surprisingly the moral hazard … contract parts. The main results may be summarized as follows. (i) Profit and utility function maximization lead to a unique …