This paper investigates optimal contracts between risk-neutral parties when both exert efforts and the agent faces limited liability. It is shown that a simple share-or-nothing with bonus contract (SonBo for short) is optimal and implements the second-best outcome, i.e., the best possible...

This paper studies asymmetric platforms' incentives for enforcing exclusivity on multihoming sellers. We show that exclusivity benefits a platform only when its service is not very valuable to sellers, and hence can be initiated by a weak platform rather than the stronger one. It is possible for...