I show that stochastic contracts generate powerful incentives when agents suffer from probability distortion. When …

under which delegation changes the scope of peer sanction and thus influences the implicit incentives generated by the … information regarding the effient decision. We show that implicit incentives under delegation are strongest in diverse teams and …

-agent relationships by improving the trade-off between insurance and incentives in the design of explicit contracts. In dynamic settings …, however, there may be implicit as well as explicit incentives, for example, managerial career concerns and the ratchet effect … in regulation. We show that the dynamic effects of CPI on implicit incentives can either reinforce or oppose the familiar …

divisions to replace high incentive pay to the division heads by incentives based on private benefits of control. In that …

subordinate then is affected by the outcome of the task and he therefore has strong incentives to contribute to its success. There …