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This study focuses on the optimal incentive schemes in a multi-agent moral hazard model, where each agent has other-regarding preferences and an individual measure of output, with both being observable by the principal. In particular, the two agents display homo moralis preferences. I find that,...
Persistent link: https://www.econbiz.de/10012493322
Persistent link: https://www.econbiz.de/10012266444
This paper studies incentives provision when agents are characterized either by homo moralis preferences, i.e., their utility is represented by a convex combination of selfish preferences and Kantian morality, or by altruism. In a moral hazard in a team setting with two agents whose efforts...
Persistent link: https://www.econbiz.de/10011771132
This paper studies incentives provision when agents are characterized either by homo moralis preferences, i.e., their utility is represented by a convex combination of selfish preferences and Kantian morality, or by altruism. In a moral hazard in a team setting with two agents whose efforts...
Persistent link: https://www.econbiz.de/10011852703
This study focuses on the optimal incentive schemes in a multi-agent moral hazard model, where each agent has other-regarding preferences and an individual measure of output, with both being observable by the principal. In particular, the two agents display homo moralis preferences. I find that,...
Persistent link: https://www.econbiz.de/10013200090
This paper studies the problem of screening teams of either moral or altruistic agents, in a setting where agents choose whether or not to exert effort in order to achieve a high output for the principal. I show that there exists no separating equilibrium menu of contracts that induces the...
Persistent link: https://www.econbiz.de/10013200139
Persistent link: https://www.econbiz.de/10012614587