We devise an experiment to explore the effect of different degrees of competition on optimal contracts in a hidden … principals. We first show theoretically how these different degrees of competition affect outcomes and efficiency. Informational … relative number of agents because competition reduces the agents' informational monopoly power. However, this environment also …

be derived from reaching a better relative position. We use a real-effort experiment in which we permit individuals to …

We study the attitudes of junior and senior employees towards strategic uncertainty and competition, by means of a …

We study the attitudes of junior and senior employees towards strategic uncertainty and competition, by means of a …

be derived from reaching a better relative position. We use a real-effort experiment in which we permit individuals to …

be derived from reaching a better relative position. We use a real-effort experiment in which we permit individuals to …

in performance. This paper reports results from an experiment analyzing whether allowing subjects to self-select into …

We devise an experiment to explore the effect of different degrees of competition on optimal contracts in a hidden … principals. We first show theoretically how these different degrees of competition affect outcomes and efficiency. Informational … relative number of agents because competition reduces the agents' informational monopoly power. However, this environment also …

competition for principals or agents. While we do observe substantial and significant ratchet effects in the baseline (no … competition) case of our model, we find that ratchet behavior is nearly eliminated by labor-market competition; interestingly this …