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relationships and on how firms provide incentives to employees. This literature has been very successful in generating models and … conform to theory. We survey some literature in this area and suggest areas for further research …
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relationships and on how firms provide incentives to employees. This literature has been very successful in generating models and … conform to theory. We survey some literature in this area and suggest areas for further research …
Persistent link: https://www.econbiz.de/10013143759
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We analyze a dynamic principal-agent problem with moral hazard and private learning. Each period the agent faces a choice between two actions: a safe action with known returns (exploitation) and a costly risky action with unknown returns (experimentation). We explicitly characterize the cheapest...
Persistent link: https://www.econbiz.de/10014135182
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