provide powerful incentives and are superior to explicit incentive contracts when there are some fair-minded players. But …, which offer important new insights into the interaction of contract choices, fairness and incentives. …

actors provide powerful incentives and become superior when there are some fair-minded players. The principals understand … enforcement power of explicit and implicit incentives. This contract preference is associated with the fact that explicit … incentives weaken the enforcement power of implicit bonus incentives significantly. Our results are largely consistent with …

thus far puzzling use of non-linear incentives, for example in sales-force compensation. The result is obtained by …

This paper examines the optimal provision of incentives for contract designers. A principal hires an agent to draft a …

flattening of the high-powered incentives. Methodologically, we provide a tractable way to formulate and characterize optimal … robustness and simplicity of dynamic contracts, in particular that presence of ambiguity flattens high-powered incentives …

In venture capital markets, contracts between investors and enterprises stipulate special incentives and restrictions …

size and team composition as instruments in order to improve incentives. In particular, the principal can strengthen the … agents' incentives by composing teams that utilize stochastic dependencies between the agents' outputs. We also show that … more agents in the team may under certain conditions increase each team member's effort incentives, in particular if …