In this paper, we extend the state-contingent production approach to principal-agent problems to the case where the state space is an atomless continuum. The approach is modelled on the treatment of optimal tax problems. The central observation is that, under reasonable conditions, the optimal...

Making the taxes acceptable to large number of people by allocating their obligation to the chosen project is the main subject of this paper. In this way a greater objectivity, transparency and local goals are set in according to the preferences of the tax contributors. State Investment office...

This article provides additional empirical evidence concerning the choice of the mule as the dominant draft animal in southern agricultural production in the latter 19th and early 20th century. While the mule was uniquely suited to the crops and climate of the region, two divergent arguments...

This paper studies the design of optimal contracts in dynamic environments where agents learn by doing. We derive a condition under which contracts are fully incentive compatible. A closed-form solution is obtained when agents have CARA utility. It shows that human capital accumulation...

This paper examines the economic value of participative processes in the setting of long-term incentives. When informational asymmetries arise between employers (supervisors) and employees (subordinates) about future states, questions arise as to whether and when resolving these informational...

The first order approach to solving the standard one-dimensional principal-agent model is conditional upon the relevant stochastic production function obeying two noteworthy restrictions: that the Likelihood Ratio be monotonically increasing in output, and that the distribution function be...

The imperative to improve healthcare efficiency is now stronger than ever. Rapidly increasing healthcare demand and the prospect of healthcare cost exploding require that measures be taken to make healthcare organizations become more efficiency-aware. Alignment of organizational interests is...

The imperative to improve healthcare efficiency is now stronger than ever. Rapidly increasing healthcare demand and the prospect of healthcare cost exploding require that measures be taken to make healthcare organizations become more efficiency-aware. Alignment of organizational interests is...

With 33 million people living with human immunodeficiency virus (HIV) worldwide and 2.7 million new infections occurring annually, additional HIV prevention and treatment efforts are urgently needed. However, available resources for HIV control are limited and must be used efficiently to...

Our GeoGraph 3D extensions to the RePast agent-based simulation platform support models in which mobile agents travel and interact on rugged terrain or on network landscapes such as social networks of established organizational teams or spatial networks at any scale from rooms within buildings...