Managers often use tournament incentive schemes which motivate workers to compete for the top, compete to avoid the … bottom, or both. In this paper we test the effectiveness and efficiency of these incentive schemes. To do so, we utilize … levels for three tournament incentive schemes: reward tournaments, punishment tournaments, and tournaments combining reward …

. -- White-Collar Employees ; Implicit Contract ; Explicit Bonus ; Reputational Equilibrium …

. We consider full-commitment contracts, i.e., the principal is assured that his contract for each agent is implemented …, and analyze the principal's delegation choice to authorize a senior agent to contract with a junior agent based on reports … decentralized contract are driven by their incentives to share risk, and by their incentives to re-allocate their effort choices, i …

hazard context. Incentive contracts that are optimal when there are only selfish actors become inferior when some agents are …