De Geest, Gerrit; Dari-Mattiacci, Giuseppe; Siegers, … - In: International Review of Law and Economics 29 (2009) 4, pp. 349-359
An annullable penalty is a sanction that is applied unless monitoring takes place and the agent is found non-shirking. An annullable bonus is a bonus that the agent receives unless he has been monitored and found shirking. Annullable penalties and bonuses stand in contrast with normal penalties...