held by the manager. In the Random treatment, workers can also change opinion but payoffs are assigned randomly, which …

We consider a principal-agent setting in which a manager's compensation depends on a noisy performance signal, and the … manager is granted the right to choose an (accounting) method to determine the value of the performance signal. We study the … expected cost of compensation and the manager's expected utility. We find that while an increase in reporting discretion never …

We examine a general equilibrium dynamic economy in which each firm i) hires a manager who can divert cash flows and ii …) can fire him after poor performance, generating costs to both parties.The contract is terminated when the manager … decrease with the firm's discount rate and the manager's termination cost and increase with the manager's discount rate, the …

the impact of incentive provision to their own manager on the average industry effort level. They over (under) incentivise …