ability to monitor quality. Although the possibility of collusion against the principal is eliminated under decentralized …

ability to monitor quality. Although the possibility of collusion against the principal is eliminated under decentralized … high type supervisor. -- auditing ; collusion ; delegation ; hierarchy ; quality …

ability to monitor quality. Although the possibility of collusion against the principal is eliminated under decentralized …

ability to monitor quality. Although the possibility of collusion against the principal is eliminated under decentralized …

characterization of renegotiation-proof states of such a renegotiation. The proposed solution concept provides an effective and easy …-to-use tool to analyze contracting problems with limited commitment. We apply the solution concept to a setting with a continuous …

characterization of renegotiation-proof states of such a renegotiation. The proposed solution concept provides an effective and easy …-to-use tool to analyze contracting problems with limited commitment. We apply the solution concept to a setting with a continuous …

implements such a function when renegotiation can be prevented will also implement it in any equilibrium when it cannot, so the … standard contract is robust to renegotiation. …

(1995), into which collusion and renegotiation possibilities among agents are incorporated. In this model, we prove that … there exists a linear and stationary optimal compensation scheme which is also immune to collusion and renegotiation. …

there exists an optimal contract which excludes collusion in equilibrium. The optimal contract exhibits, however, ex …-post inefficient and creates scope for renegotiation. If a renegotiation-stage is incorporated in the game then for some parameter … constellations the optimal contract is a contract which necessarily induces collusion. The paper thus shows that the principal …

strategically distort contracts to influence renegotiation outcomes. In this sequential common agency game, the initial contract … impacts elements of the renegotiation process: outside options (a `leverage' effect), and the beliefs of the new government …