, while the second contract gives an additional sales bonus. Although theory predicts the second contract to be chosen, it is … contracts which determine their managers' salaries. One contract simply gives managers incentives to maximize firm profits …

theory of interacting particle systems. We clarify the structure of the equilibrium joint rating distribution using ergodic … losses ; voter model ; Choquet theory ; ergodic decomposition ; re-scaling …

design has to regard an equity constraint that has so far been neglected by contract theory. In fact, most contract offers … observed in the experiment aim at fair surplus sharing. -- principal-agent theory ; contract theory ; fair sharing ; incentive …Modern 'principal-agent theory' has made a lot of progress in proposing theoretical Solutions to agency problems. This …

two period game, involving the choke of the contract; length by the principal and an investment choke by the agent. In … contrast to the game theoretic predictions, we find that investment of the worker and length of contract; are strictly … although the model is fully deterministic. This could imply a behaviorally relevant difference between contract and market …