The incentives for an advisor first to diligently perform research and second to accurately report her results are investigated in a model of optimal contracting. To motivate the advisor to collect and analyze the relevant data, her compensation must include a contingent component that depends...

We study the optimal incentive scheme for a multistage project in which the agent privately observes intermediate progress. The optimal contract involves a "soft deadline" wherein the principal guarantees funding up to a certain date -- if the agent reports progress at that date, then the...