dynamic incentives. In our model, a principal wants an agent to complete a project. The agent undertakes unobservable effort …, the contract involves the agent’s value and wage declining over time, in order to give the agent incentives to exert …

of who has the renegotiating bargaining power, debt and convertible debt maximize the entrepreneur's incentives to exert …

obtain evidence on the effect of stronger incentives on productive and destructive effort. Using as control the behavior of … the same teams in a competition that experienced no changes in incentives, we provide differences-in-differences estimates …, and that indeed attendance suffered as a result of the incentive change. Thus, teams responded to stronger incentives, but …

This Paper studies a particular kind of gaming response to explicit incentives in a large government organization. The …

talented workers leads to an escalating reliance on performance pay and other high-powered incentives, thereby shifting effort … incentives downward in order to extract rents. More generally, as declining market frictions lead employers to compete more …, while inequality tends to rise monotonically. Bonus caps and income taxes can help restore balance in agents' incentives and …

. Contingent fees provide better incentives than conditional fees independently of whether upfront payments are restricted to be …