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contracts which determine their managers' salaries. One contract simply gives managers incentives to maximize firm profits …, while the second contract gives an additional sales bonus. Although theory predicts the second contract to be chosen, it is … only rarely chosen in the experimental markets. This behavior is rational given that managers do not play according to the …
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"Expanding and improving basic education in developing countries requires, at a minimum, teachers who are present in the classroom and motivated to teach, but this essential input is often missing. This paper describes the findings of a series of recent World Bank and other studies on teacher...
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performance elasticities are contrary to predictions of agency theory. Both results provide further support to the common belief … that compensation contracts in public corporations seem imperfectly tied to firm performance and managers' tasks. …
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To mark the retirement of Robert S. McNamara as President of the World Bank after thirteen years of service, the Bank's Executive Directors commissioned a book gathering together all the principal statements Mr. McNamara made during his tenure of office
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