In imperfectly competitive labor markets returns to skills are lower than their productivity and educational standards may play an important role in stimulating students to provide effort. We propose a principal-agent model to analyze the determinants of student effort and the setting of...

The sale of commissioned goods is an old, well-known concept although its implementation and automation in the context of the modern information systems in enterprises is not all that simple given that it implies appropriate contractual arrangement, and organizational and informational...