Ensthaler, Ludwig; Huck, Steffen; Leutgeb, Johannes - In: Games and Economic Behavior 119 (2020), pp. 30-55
From the regulation of sports to lawmaking in parliament, in many situations one group of people (“agents”) make decisions that affect the payoffs of others (“principals”) who may offer action-contingent transfers in order to sway the agents' decisions. Prat and Rustichini (2003)...