the current principal prefers her future self to save more, she can increase current investments complementary to future … savings and decrease investments in the strategic substitutes, for example. To characterize the principal’s choices they are … benefits from subsidizing investments in “green” capital (complementary to future savings) and tax investments in substitute …

firms undertake investments which benefit the industry in aggregate. The model is consistent with observations from the …

problem, we introduce a triple mechanism involving political information markets, reelection threshold contracts, and … democratic elections. An information market is used to predict the long-term performance of a policy, while threshold contracts …

rigid, non discretionary contracts. Delegation grants some flexibility in the choice of the action by the agent, but also … again implies that the higher the degree of imprecision aversion the less profitable flexible contracts versus rigid ones …

, the timing and causes of the fairs' decline, and the institutions for securing property rights and enforcing contracts at …

We examine the power of incentives in bureaucracies by studying contracts offered by a bureaucrat to her agent. The …-powered incentives remain even in an alternative centralized setting, where the funding authority contracts directly with the agent using …

show how the law of insurance contracts should allow insurers to incentivize policyholders to exert an adequate level of …