This paper analyzes the trade-o! between monitoring and incentives in a principal-agent relationship with moral hazard … the agentfaces a limited liability constraint. We show that the principal uses less monitoring andstronger incentives if … the agent's liability limit is relaxed or if monitoring costs increase.To induce more e!ort on the part of the agent, the …

a systematic survey, whether as part of an inventory or long-term monitoring, is time-consuming and cost-intensive. With …

performance appraisalsystems, monitoring by supervisors, autonomy to organize the work) and individuals’inclination to trust …

sequencing of benefits), monitoring in conjunction with sanctions, and workfare. Our reading of the theoretical literature is …

a systematic survey, whether as part of an inventory or long-term monitoring, is time-consuming and cost-intensive. With …