hierarchical firm. In the state enterprise, promotion of employees through the internal hierarchy is determined by the workers …

contest. Our analysis has implications for applications as diverse as the design of worker compensation, the awarding of …

, nor allow for compensation of all damages. The reason is that the magnitudes of the accidents that we study are so big … take care even further because of the moral hazard problem. Another component of the compensation system is the 1969 … improve the situation with the apparent inadequacy of the system to meet the compensation demands from victims. The CLC forces …

accounting return on equity (ROE). Further, banks with higher option compensationand with a larger fraction of compensation given …

This paper presents a model of executive compensation in which the executive is risk averse and has specific knowledge … compensation. Notably, we find that relative performance evaluation is optimal only if the quality of specific knowledge is low. We …

Theories of market failures and targeting motivate the promotion of entrepreneurship training programs and generate …

of training for unemployed workers in France, using a rich register data set. Training has little impact on unemployment …

This paper evaluates the effectiveness of market-based approaches in the provision of public-sponsored training … programs. In particular, we study the link between training quality and labor earnings using a Peruvian program that targets … disadvantaged youths. Multiple proxies for training quality are identified from bidding processes in which public and private …