his employer. This paper uses a principalagent model to study optimal incentive contracts for envious workers under …

contracts are prematurely terminated. In the absence of contracting frictions that prevent contractors from redesigning … contracts to accommodate exogenous policy changes, PPLD would not be distortionary or redistributive. If contracting frictions …

for analyzing optimal incentive contracts within a general equilibrium framework. We propose several models that study the …

The empirical analysis of the impact of long-term contracts on performance is challenging for two reasons: first, it is … difficult to get adequate performance measures and second, potentially negative incentive effects of long-term contracts are … countervailed by selection effects when workers with higher abilities get longer contracts. We adopt data from professional sports …

article uses a principal-agent model to study profit-maximizing contracts when a worker envies his employer. Envy tightens the …