Our paper evaluates recent regulatory proposals mandating the deferral of bonus payments and claw-back clauses in the financial sector. We study a broadly applicable principal agent setting, in which the agent exerts effort for an immediately observable task (acquisition) and a task for which...

Contractual and regulatory provisions for access affect incentives to invest in an upgraded network and, in particular, a next-generation access network. Investment decisions are made under uncertainty and have to be made over time. This papers provides a framework for taking uncertainty, risk...

Die Netzstrukturen im Bereich der Telekommunikation entwickeln sich weiter und erfordern neue Investitionen. Die notwendige Regulierung kann dabei verschiedene Formen annehmen und zu unterschiedlichen Zeitpunkten ansetzen. Die Autoren beschreiben die Netzinfrastruktur in Deutschland und zeigen...