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retirement incentives and work incentives of prime-age workers. We find that postponed retirement tends to harm incentives of …
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This paper examines the effect of imperfect labor market competition on the efficiency of compensation schemes in a setting with moral hazard, private information and risk-averse agents. Two vertically differentiated firms compete for agents by offering contracts with fixed and variable...
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We study optimal incentives in a principal-agent problem in which the agent's outside option is determined endogenously … obtaining this raise gives the agent an incentive to exert effort, which reduces the need for standard incentives, like bonuses … eliminates the need for standard incentives …
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equity incentives and lengthen the exercisability of new option grants, especially for managers facing greater ex …
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