Koch, Alexander K.; Morgenstern, Albrecht; Raab, Philippe - School of Economics and Management, University of Aarhus - 2009
Holmström’s (1982/99) career concerns model has become a workhorse for analyzing agency issues in many fields. The underlying signal jamming argument requires players to use information in a Bayesian way, which is difficult to directly test with field data: typically little is known about the...