We consider two-round elimination tournaments where players have fixed resources instead of cost functions. Two …

incentives for multiple agents to undertake efficient levels of the separate activities. The ability of various mechanisms to … provide incentives and the way that this ability is affected by information and agent numbers will determine both which …'s perspective -- but also by the ability of the coordination mechanism to provide incentives for efficient activity levels as …

cost, exercising strategies, and induced incentives. Especially, we highlight some significant interactions among different …

incentives under the heavy information asymmetry (Sahlman, 1982, J. Financial Economics) In this paper, we consider how to design …

Standard models of moral hazard predict a negative relationship between risk and incentives, but the empirical work has … incentives decreases with risk aversion, more risk-averse agents prefer lower-incentive contracts; thus, in the optimal contract …, incentives are positively correlated with endogenous risk. In contrast, if risk aversion is high enough, the possibility of …