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Dynamic Managerial Compensation: a Mechanism Design Approach
Garrett, Daniel; Pavan, Alessandro - Center for Mathematical Studies in Economics and … - 2009
We characterize the optimal incentive scheme for a manager who faces costly effort decisions and whose ability to generate profits for the firm varies stochastically over time. The optimal contract is obtained as the solution to a dynamic mechanism design problem with hidden actions and...
Persistent link: https://www.econbiz.de/10008597112
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Dynamic Managerial Compensation: a Mechanism Design Approach
Garrett, Daniel; Pavan, Alessandro - Collegio Carlo Alberto, Università degli Studi di Torino - 2009
We characterize the optimal incentive scheme for a manager who faces costly effort decisions and whose ability to generate profits for the firm varies stochastically over time. The optimal contract is obtained as the solution to a dynamic mechanism design problem with hidden actions and...
Persistent link: https://www.econbiz.de/10008518904
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How to deal with unprofitable customers? A salesforce compensation perspective
Banerjee, Sumitro; Thevaranjan, Alex P. - European School of Management and Technology (ESMT) - 2013
We show that prices and incentives recommended by the salesforce literature when targeting a profitable segment can attract unprofitable customers, particularly when salespeople have high productivity and low risk (i.e., risk aversion times uncertainty). Therefore, when customers are...
Persistent link: https://www.econbiz.de/10010667868
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Gathering Information before Signing a Contract: Experimental Evidence
Hoppe, Eva I; Schmitz, Patrick W - C.E.P.R. Discussion Papers - 2009
A central insight of agency theory is that when a principal offers a contract to a privately informed agent, the … particular, we investigate settings with both exogenous and endogenous information structures. We find that theory is indeed a …
Persistent link: https://www.econbiz.de/10005789080
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The Effects of Moral Development and Adverse Selection Conditions on Managers’ Project Continuance Decisions: A Study in the Pacific-Rim Region
Chang, C.; Yen, Sin-Hui - In: Journal of Business Ethics 76 (2007) 3, pp. 347-360
Persistent link: https://www.econbiz.de/10005719534
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The Agency Problem in New Institutional Economics
Otáhal, Tomáš - In: Politická ekonomie 2009 (2009) 5, pp. 677-695
the theory of firm, the theory of market process and the theory of property rights. The second section is dedicated to the …
Persistent link: https://www.econbiz.de/10008545885
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Ambiguity, Agency Relationships and Adverse Selection
Mondello, Gérard - HAL - 2012
This paper applies to adverse selection theory the advances made in the field of ambiguity theory. It shows that i) a …
Persistent link: https://www.econbiz.de/10010734227
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Ambiguity, Agency Relationships and Adverse Selection
Mondello, Gerard Camille - Groupe de REcherche en Droit, Économie, Gestion … - 2012
This paper applies recent results and advances in the field of ambiguity theory to adverse selection in a delegation …
Persistent link: https://www.econbiz.de/10010691219
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Agency Revisited
Casadesus-Masanell, Casadesus-Masanell Ramón; Spulber, … - Fundación BBVA - 2007
The working paper presents a comprehensive overview of the principal-agent model that emphasizes the role of trust in the agency relationship. The analysis demonstrates that the legal remedy for breach of duty can result in a full-information efficient outcome eliminating both moral hazard and...
Persistent link: https://www.econbiz.de/10008685255
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AGENCY PROBLEMS IN PUBLIC SECTOR
Attila, Gyorgy - In: Annals of Faculty of Economics 1 (2012) 1, pp. 708-712
Agency theory analyses the effects of contractual behaviour between two parties: principal(s) and agent(s). This … objective is linked with personal contribution, respectively to highlight specificity of agency theory in public sector and the … proposed theme. Little literature approaches agency theory in public sector, in most cases the analysis being restricted to …
Persistent link: https://www.econbiz.de/10011150720