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A standard hidden information model is considered to study the influence of the a priori productivity distribution on the optimal contract. A priori more productive (hazard rate dominant) agents work less, enjoy lower rents, but generate a higher expected surplus.
Persistent link: https://www.econbiz.de/10010317663
We examine a situation where efforts on different tasks positively affect production but are not separately verifiable and where the manager (principal) and the worker (agent) have different ideas about how production should be carried out: agents prefer a less efficient way of production. We...
Persistent link: https://www.econbiz.de/10010267331
We examine a situation where efforts on different tasks positively affect production but are not separately verifiable and where the manager (principal) and the worker (agent) have different ideas about how production should be carried out: agents prefer a less efficient way of production. We...
Persistent link: https://www.econbiz.de/10011422133
We examine a situation where efforts on different tasks positively affect production but are not separately verifiable and where the manager (principal) and the worker (agent) have different ideas about how production should be carried out: agents prefer a less efficient way of production. We...
Persistent link: https://www.econbiz.de/10005453734
A standard hidden information model is considered to study the influence of the a priori productivity distribution on the optimal contract. A priori more productive (hazard rate dominant) agents work less, enjoy lower rents, but generate a higher expected surplus.
Persistent link: https://www.econbiz.de/10005032208
We examine a situation where efforts on different tasks positively affect production but are not separately verifiable and where the manager (principal) and the worker (agent) have different ideas about how production should be carried out: agents prefer a less efficient way of production. We...
Persistent link: https://www.econbiz.de/10005135233
Persistent link: https://www.econbiz.de/10001672586
We examine a situation where efforts on different tasks positively affect production but are not separately verifiable and where the manager (principal) and the worker (agent) have different ideas about how production should be carried out: agents prefer a less efficient way of production. We...
Persistent link: https://www.econbiz.de/10003114944
We examine a situation where efforts on different tasks positively affect production but are not separately verifiable and where the manager (principal) and the worker (agent) have different ideas about how production should be carried out: agents prefer a less efficient way of production. We...
Persistent link: https://www.econbiz.de/10003011512
To date, much of the literature on institutional economics has relied on abstract metaphors based in exchange. Thus, Williamson introduced the fundamental insights surrounding his “transaction costs” model and discussed the governance of contracts in exchange relationships. Yet organizations...
Persistent link: https://www.econbiz.de/10014048273