A main prediction of agency theory is the well known risk-incentive trade-off. Incentive contracts should be found in …

differences in betting odds or rankings to measure ability differences, our results support standard tournament theory as we find …

employee effort is the amount of discretion offered at work; (b) pay incentives and ‘gift exchanges’ are the most important … motivators; (c) the use of monitoring and Taylor-type assembly lines are the least effective incentives; and (d) the optimal …

We study optimal incentives in a principal-agent problem in which the agent's outside option is determined endogenously … obtaining this raise gives the agent an incentive to exert effort, which reduces the need for standard incentives, like bonuses … eliminates the need for standard incentives. …

individual prizes that satisfy a self-commitment condition and induce effcient incentives at the same time, thus solving a … fundamental dilemma in tournament theory. Individual prizes exhibit two major advantages - they allow the extraction of worker … rents and the adjustment of individual incentives, which will be important for the employer if he cannot rely on handicaps. …