One of the pivotal devices B. Traven employs in his short story 'The Cattle Drive' is a contract between the cattle owner and the trail boss who brings the livestock to market. By specifying a per-diem rate, the contract appears to encourage a wage-maximizing trail boss to delay the delivery of...

Making the taxes acceptable to large number of people by allocating their obligation to the chosen project is the main subject of this paper. In this way a greater objectivity, transparency and local goals are set in according to the preferences of the tax contributors. State Investment office...

This paper analyses the relation between authority and incentives. It extends the standard principal--agent model by a project selection stage in which the principal can either delegate the choice of project to the agent or keep the authority. The agent's subsequent choice of effort depends both...

We study the relevance of fairness norms in an experimental scenario in which hired and rented hands are co-employed and stochastic influences and multiple reference points for fairness further increase complexity. Co-employment of hired and rented hands is an example out of a broader class of...

We examine an adverse selection relationship in which the principal is unaware of the ex ante distribution of the agent's types. We show that the minimax regret mechanism, which is an incentive compatible and individually rational mechanism that minimizes the maximal principal's regret, requires...

This paper analyses the relation between authority and incentives. It extends the standard principal / agent model by a project selection stage in which the principal can either delegate the choice of project to the agent or keep the authority. The agent's subsequent choice of e ort depends both...

This paper analyses the relation between authority and incentives. It extends the standard principal / agent model by a project selection stage in which the principal can either delegate the choice of project to the agent or keep the authority. The agent's subsequent choice of e ort depends both...