<em>The Impact of Technological Change on Incentive Provision</em> - The simple trade-off between incentive and risk, which is crucial to the agency problem, is not a sufficient explanation for the ineffectiveness of a specific output-related pay such as the contract system adopted in the US iron and...

<em>Agency Theory and Work Incentives</em> (by Maurizio Lisciandra) - ABSTRACT: This paper is an extensive review of agency theory applied to labour incentives. It introduces a generalised principal-agent model that goes through a certain degree of critical assessment. The analysis of the optimality...