relates to the candidates type . Delegation is then superior to direct (owner) recruitment and offering tenure or guaranteed …

The existing delegation literature has focused on different preferences of principal and agent concerning project … selection, which makes delegating authority costly for the principal. This paper shows that delegation has a cost even when the … without task commitment and other behavioral effects the principal might forgo delegation though being efficient. …

We present a model of delegation with moral hazard. A principal delegates a decision to an agent, who affects the … economic environments. Optimal delegation takes one of four simple forms, all commonly used in practice: floors, ceilings …

actually pay the announced bonus. This offers a new explanation for why explicit and implicit incentives are substitutes rather …

institutional moral hazard in a multi-tiered UI system, and give examples of monitoring methods and incentives to ameliorate such …