Jaksa, Cvitanic; Xuhu, Wan; Jianfeng, Zhang - In: The B.E. Journal of Theoretical Economics 8 (2008) 1, pp. 1-43
We consider the problem of when to deliver the contract payoff, in a continuous-time principal-agent setting, in which the agent's effort is unobservable. The principal can design contracts of a simple form that induce the agent to ask for the payoff at the time of the principal's choosing. The...