the principal can mute search incentives by offering an efficiency wage contract. Due to effort substitution, efficiency …

employment contract. We show that not imposing such an agreement can be beneficial for the principal as the possibility to leave …

requires the use of an appropriate incentive contract so as to realign his interests with those of the principal. The parties … of the optimal flexible contract both when the parties have sharp probabilistic beliefs over the possible events in which … risk aversion, the higher the agency costs for delegation and hence the less profitable is a flexible contract versus a …

programming contracts are designed this way.We study the contract design options of a platform owner offering a screening contract … to the standard screening contract. Of particular interest is our finding that under exclusivity, when high …

contract, such as hours and wage combinations in the labor market. Under general utility representations that are non … choice of contract. We also show that the popular transferable utility model with transferable utilities can be viewed as a …