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Implicit contracts, incentive compatibility, and involuntary unemployment : thirty years on
MacLeod, William Bentley; Malcomson, James M. - 2023
"Implicit Contracts, incentive compatibility, and involuntary unemployment" (MacLeod and Malcomson, 1989) remains our most highly cited work. We briefly review the development of this paper and of our subsequent related work, and conclude with reflections on the future of relational contract...
Persistent link: https://www.econbiz.de/10013500553
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Optimal Incentive Contracts for Experts
Köhler, Wolfgang R. - 2004
problem to design a contract that provides an expert with incentives to acquire and reveal information. We show that it is in … provision of incentives when the realized state is not verifiable …
Persistent link: https://www.econbiz.de/10010263103
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On the Relationship Between Incentives and Performance
Weinschenk, Philipp - 2019
This paper seeks to explore how an agent's incentives to perform influences her performance. We analyze this question … show that the relationship between the incentives to perform and the expected performance could be negative. The paper thus … offers a novel, non-behavioral explanation for the failure of incentives …
Persistent link: https://www.econbiz.de/10012865018
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Incentivization in Decentralized Autonomous Organizations
Braun, Alexander; Häusle, Niklas; Karpischek, Stephan - 2021
We propose a mechanism for the incentivization of workers in decentralized autonomous organizations instantiated on the blockchain. Our approach relies on staking, a digital form of collateralization that requires network participants to acquire cryptographic tokens and deposit them in a smart...
Persistent link: https://www.econbiz.de/10013250823
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Incentives for Contract Designers
Rodivilov, Alexander - 2021
This paper examines the optimal provision of incentives for contract designers. A principal hires an agent to draft a …
Persistent link: https://www.econbiz.de/10013213552
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Imprecise Beliefs in a Principal Agent Model
Rigotti, Luca - 2008
knowledge of the surrounding environment. In this setting, incentives need to be robust to the agent's different beliefs. We …
Persistent link: https://www.econbiz.de/10014192089
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Performance Measurement in Multi-Task Agencies
Thiele, Veikko - 2010
This paper analyzes a multi-task agency relationship with a risk-neutral and financially constraint agent. The agent's performance evaluation is incongruent, i.e. it does not reflect his contribution to firm value, and thus motivates an inefficient effort allocation across tasks. This paper...
Persistent link: https://www.econbiz.de/10014218745
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On the Role of Uncertainty in the Risk-Incentives Tradeoff
Rantakari, Heikki - 2007
uncertainty impact the optimal strength of linear incentives. Instead of attempting to characterize different "types" of … between uncertainty and incentives can be positive and relate it back to the existing models in the literature …
Persistent link: https://www.econbiz.de/10014049178
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Wealth Effects, Incentives and Productivity
Mookherjee, Dilip - 1997
reduces the agent's effort incentives owing to income effects in the demand for leisure. It is shown that optimal effort …
Persistent link: https://www.econbiz.de/10014098417
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Performance Measurement in Multi-Task Agencies
Thiele, Veikko - 2010
This paper analyzes a multi-task agency model with a risk-neutral and financially constrained agent. The agent's performance evaluation is thereby incongruent, i.e. it does not perfectly reflect the relative contribution of the agent's multi-dimensional effort to firm's profit. This paper...
Persistent link: https://www.econbiz.de/10014028223