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Adverse specialization

MacDonald, Glenn M.; Marx, Leslie M. - In: Journal of political economy 109 (2001) 4, pp. 864-899

Persistent link: https://www.econbiz.de/10001602242

Rent shifting and the order of negotiations

Marx, Leslie M.; Shaffer, Greg Eric - In: International journal of industrial organization 25 (2007) 5, pp. 1109-1125

Persistent link: https://www.econbiz.de/10003575147

Adverse Specialization

MacDonald, Glenn M.; Marx, Leslie M. - 2001

We analyze a multiple-activity, principal-agent model in which the activities are naturally substitutable for the agent and complementary for the principal. A basic result is that the optimal compensation must cause the agent to view the activities as complements. This complementarity is...

Persistent link: https://www.econbiz.de/10014128415

Adverse Specialization

MacDonald, Glenn M.; Marx, Leslie M. - 2001

We analyze a multiple-activity principal-agent model in which the activities are naturally substitutable for the agent and complementary for the principal. A basic result is that the optimal compensation mechanism must cause the agent to view the activities as complements. This complementarity...

Persistent link: https://www.econbiz.de/10014047183