One of the standard predictions of the agency theory is that more incentives can be given to agents with lower risk … obtain that lower agent’s risk aversion unambiguously leads to higher incentives when the technology function linking …

Several empirical findings have challenged the traditional trade-off between risk and incentives. By combining risk … risk and incentives can be explained. …

, in the context of franchising. We find that a 30 percent decrease in average collateralizable housing wealth in an area … is associated with a delay in chains' entry into franchising by 0.33 years on average, or 10 percent of the average …

The relationship between risk and incentives in franchise contracting is still an unsolved issue in the literature … incentive motivation. Contrary to this traditional view, we argue that the relationship between risk and incentives can be …, which contradicts the standard prediction of the agency theory. Furthermore, the estimation of random effect models provides …

Reputational career concerns provide incentives for short-lived agents to work hard, but it is well known that these … incentives disappear as an agent reaches retirement. This paper investigates the effects of a market for firm reputations on the … life cycle incentives of firm owners to exert effort. A dynamic general equilibrium model with moral hazard and adverse …

Reputational career concerns provide incentives for short lived agents, but these incentives disappear as an agent … reaches retirement. This paper investigates the effects of a market for firm reputations on the life-cycle incentives of firm …. First, incentives of young and old agents are quantitatively equal, implying that incentives are "ageless" with a market for …

reputation, seniors will have incentives to exert effort. Incentives for young agents arise from a concern for their own …

and incentives, can induce firms to behave strategically: they will offer very low bids to be awarded the contract …