As firms implement tournament bonus reward schemes, mainly the idea is to introduce competition amongst their agents in the order to promote their performance. Tournaments in which agents compete for a bonus by investing effort, are frequently applied, e.g., in development races, political...

When two or more agents compete for a bonus and the agents' productivity in each of several possible occurrences depends stochastically on (constant) effort, the number of times that are checked to assign the bonus affects the level of un-certainty in the selection process. Uncertainty, in turn,...

As firms implement tournament bonus reward schemes, mainly the idea is to introduce competition amongst their agents in the order to promote their performance. Tournaments in which agents compete for a bonus by investing effort, are frequently applied, e.g., in development races, political...

Rückversicherung kann als Überwälzung von versicherungstechnischem Risiko vom Erst- auf den Rückversicherer definiert werden, kurz gesagt: "Rückversicherung ist Versicherung von Versicherungen". Einen entscheidenden Aspekt bei der Ausgestaltung von Rückversicherungsverträgen stellt die...