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Persistent link: https://www.econbiz.de/10014580445
This paper studies the use of incentive contracts in the Bolton-Scharfstein (1990) model when some agents in the population are technically constrained from falsifying reports and stealing cash. The original Bolton-Scharfstein contract may not be optimal for a large range of parametric values....
Persistent link: https://www.econbiz.de/10014057550