Showing 1 - 10 of 64,646
It has been argued in the multitask agency literature that effort distortion can be mitigated by applying several …
Persistent link: https://www.econbiz.de/10012716711
"Implicit Contracts, incentive compatibility, and involuntary unemployment" (MacLeod and Malcomson, 1989) remains our most highly cited work. We briefly review the development of this paper and of our subsequent related work, and conclude with reflections on the future of relational contract...
Persistent link: https://www.econbiz.de/10013500553
This paper analyzes the impact of heterogeneous (social) preferences on the weighting and combination of performance measures as well as on a firm's profitability. We consider rivalry, egoism and altruism as extreme forms within the continuum of possible preferences and show that the principal...
Persistent link: https://www.econbiz.de/10010442170
This paper addresses the question, what metrics should be used for performance evaluation and in particular how they should be weighted and combined in the presence of technological interdependencies when the agents exhibit variedly strong developed rivalry. We find that the principal reacts to...
Persistent link: https://www.econbiz.de/10010442171
problem to design a contract that provides an expert with incentives to acquire and reveal information. We show that it is in … provision of incentives when the realized state is not verifiable …
Persistent link: https://www.econbiz.de/10010263103
leads to weaker incentives for effort, compared with non-integration. Our theory makes minimal assumptions about the … managers. The division managers' job is to create profitable investment projects. Giving the managers incentives to do so …' incentives. The resulting tradeoff between a better use of resources and diminished incentives for effort determines whether …
Persistent link: https://www.econbiz.de/10010268001
"Implicit Contracts, incentive compatibility, and involuntary unemployment" (MacLeod and Malcomson, 1989) remains our most highly cited work. We briefly review the development of this paper and of our subsequent related work, and conclude with reflections on the future of relational contract...
Persistent link: https://www.econbiz.de/10014296625
This paper seeks to explore how an agent's incentives to perform influences her performance. We analyze this question … show that the relationship between the incentives to perform and the expected performance could be negative. The paper thus … offers a novel, non-behavioral explanation for the failure of incentives …
Persistent link: https://www.econbiz.de/10012865018
We propose a mechanism for the incentivization of workers in decentralized autonomous organizations instantiated on the blockchain. Our approach relies on staking, a digital form of collateralization that requires network participants to acquire cryptographic tokens and deposit them in a smart...
Persistent link: https://www.econbiz.de/10013250823
This paper examines the optimal provision of incentives for contract designers. A principal hires an agent to draft a …
Persistent link: https://www.econbiz.de/10013213552