We study optimal incentives in a principal-agent problem in which the agent's outside option is determined endogenously … obtaining this raise gives the agent an incentive to exert effort, which reduces the need for standard incentives, like bonuses … eliminates the need for standard incentives …

This paper is an extensive review of agency theory applied to labour incentives. It introduces a generalised principal … agency theory and, to a larger extent, labour incentives … insurance against incentives is enriched by bringing in the contribution of established extensions and new approaches to the …

Uncertainty has qualitatively different implications than risk in studying executive incentives. We study the interplay … who face greater uncertainty desire faster learning, and consequently offer higher managerial incentives to induce higher … generates a positive relation between profitability uncertainty and incentives. We document empirical support for this …

obtain high-powered incentives and, hence, a high personal income at the merger-management stage. …

sophisticated ways to misalign workers’ incentives can be used to extract the full surplus from a team of workers growing …

implies that the indirect and total effects of risk on incentives are negative under monotone assortative matching. …