results. In this case, the optimal contract either ignores the team measure completely or uses it to create a conditional … study a principal-multi-agent relational contracting model in which the optimal contract resembles a bonus pool. It … joint bonus floor is useful because of its role in motivating the agents to mutually monitor each other (team incentives …

, we exploit an exogenous change in the contract structure in 2003, the piece rate increasing from 20.2 to 22.9 euros. We …

This paper examines the optimal provision of incentives for contract designers. A principal hires an agent to draft a … contract that is incomplete because the ex-ante specified design might not be appropriate ex-post. The degree of contract … characterize the optimal incentive scheme for the agent and discuss implications for the degree of contract incompleteness and the …

with reflections on the future of relational contract theory and practice. …

Nobel for their fundamental contributions to contract theory. This article offers a short summary and discussion of their …

the article we describe the key features of venture capital contracts, the characteristics of selected contract elements … and their impact on corporate operations and the contracting parties. After the presentation of individual contract …

interaction among team members positively affects the principal's payoff. Greater team cooperation is successfully induced with … communication on team cooperation in the absence of ongoing team interaction. Fostering communication among team members does not … significantly affect the principal's payoff, suggesting that agents' communication is an imperfect substitute for ongoing team …

are presented. This study aims to verify whether there are significant differences among the individual, team, and mix …