Nobel for their fundamental contributions to contract theory. This article offers a short summary and discussion of their …

, we exploit an exogenous change in the contract structure in 2003, the piece rate increasing from 20.2 to 22.9 euros. We …

This paper examines the optimal provision of incentives for contract designers. A principal hires an agent to draft a … contract that is incomplete because the ex-ante specified design might not be appropriate ex-post. The degree of contract … characterize the optimal incentive scheme for the agent and discuss implications for the degree of contract incompleteness and the …

with reflections on the future of relational contract theory and practice. …

contract and show how it separates the employee types. The optimal contract menu pairs a higher probability of assignment to …

study a principal-multi-agent relational contracting model in which the optimal contract resembles a bonus pool. It … results. In this case, the optimal contract either ignores the team measure completely or uses it to create a conditional …

information about the technology, and both seek robust performance from a contract in relation to their respective worst …-case scenarios. We show that the optimal long-term contract aligns the party's pessimistic expectations and broadly features …

This paper analyses bargaining over an incentive compatible contract in a moral hazard framework. We introduce the … bargaining power, the contract in the Kalai-Smorodinsky solution yields a more efficient outcome and induces more effort. The …