Optimally reallocating human capital to tasks is key for an organization to successfully navigate a transition. We study how to design employment contracts to allocate employees to different valuable projects within an organization given two simultaneous challenges: The employees have private...

This paper analyzes innovation races in a moral hazard setting. I develop a model where two competing entrepreneurs, financed by a single venture capitalist, work independently on the same project. The venture capitalist cannot observe the allocation of funds she provides, which creates a moral...

A common decision that organizations make is to prioritize and allocate resources to managers of competing new product projects. On successful completion of the projects, organizations often reward their project managers using a standardized incentive plan; that is, they reward the success of...