current CEO who may have considerable power. Having signed a contract, the agent chooses how much effort to make to acquire … problem; how much information to acquire and what investment decision to make. As a consequence, the equilibrium contracts in … model E involve both bonuses and penalties. We identify lower and upper bounds on these, and study how the bonus and bonus …

current CEO who may have considerable power. Having signed a contract, the agent chooses how much effort to make to acquire … problem; how much information to acquire and what investment decision to make. As a consequence, the equilibrium contracts in … model E involve both bonuses and penalties. We identify lower and upper bounds on these, and study how the bonus and bonus …

paper develops a theoretical model of contract design in the new blockchain environment, and shows that the optimal contract … is a relatively simple and dynamically adjusting splitting rule. Under this type of smart contract, external financing …

about the asset? How do the disclosure rules of contract law influence the investigation decision? Shavell (1994) showed …-disclosure rule, which requires disclosure of material information, but only after the contract is concluded. We show that this rule … can be more efficient than both voluntary disclosure and mandatory (pre-contract) disclosure …

This paper studies a principal-agent model where a risk-neutral principal delegates to a risk-neutral agent the … contract suggests that the principal should only reward the agent for outcomes that are significantly better than the safe …

the outcome of a finite number of experiments, each of which consists of (1) a contract and (2) the distribution of output … (but not the effort cost) associated with the agent's best response to that contract. She views any technology that …

contract framing effect in either condition: effort provision is statistically indistinguishable under bonus and penalty … treatments subjects know at the time of effort provision whether they have achieved the bonus / avoided the penalty. In another …

, a partner of an investment company, and a fund manager of the company. The investor cannot perfectly observe the partner …