firms. We study the agency problem between shareholders and a manager when the manager can hedge his incentive compensation …

Using an agency model, we show how delegation, by generating additional private information, improves dynamic … incentives under limited commitment. It circumvents ratchet effects and facilitates the revelation of persistent private …

encompass both bureaucratic delegation from a government to a privatization agency and electoral delegation from voters to a …

There has been little empirical work evaluating the sensitivity of fertility to financial incentives at the household … representation of the French tax-benefit system. Our results suggest that financial incentives play a notable role in determining …

actors provide powerful incentives and become superior when there are some fair-minded players. The principals understand … enforcement power of explicit and implicit incentives. This contract preference is associated with the fact that explicit … incentives weaken the enforcement power of implicit bonus incentives significantly. Our results are largely consistent with …

economic literature on incentives, and discusses their relationship to monetary compensation. Awards are better suited than … complement, or even substitute for, monetary incentives. While we discuss awards in the context of academia, our conclusions …

provision of incentives. Relative price and income effects are shown to be identifiable and strong. A number of empirically …

and moral hazard. Forgetting a default typically makes incentives worse, ex-ante, because it reduces the punishment for … increases the incentive to exert effort to preserve this reputation. Our key result is that if (i) borrowers’ incentives are …

&D cooperation. This paper explores this idea by analysing on the one hand the incentives for EU, Japan and Russia to adopt this … strategy, and on the other hand the incentives for the US to join a coalition which cooperates both on climate change control … and R&D) will be examined from the view point of countries’ profitability and free-riding incentives. Finally, after …