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contracts are prematurely terminated. In the absence of contracting frictions that prevent contractors from redesigning … contracts to accommodate exogenous policy changes, PPLD would not be distortionary or redistributive. If contracting frictions …
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for analyzing optimal incentive contracts within a general equilibrium framework. We propose several models that study the …
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article uses a principal-agent model to study profit-maximizing contracts when a worker envies his employer. Envy tightens the …
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’ metering’ problem when the principal contracts with multiple agents for the supply of feedstock. Alternative arrangements …
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