This paper studies a novel dynamic principle agent setting with moral hazard and adverse selection (persistent as well as repeated). In the model an expert whose skills are his private information, faces a finite sequence of tasks, one after the other. Each task's level of difficulty is an...

In many tournaments investments are made over time and conducting a review only once at the end, or also at points midway through, is a strategic decision of the tournament designer. If the latter is chosen, then a rule according to which the results of the different reviews are aggregated into...

We show that the optimal prize structure of symmetric n-player Tullock tournaments assigns the entire prize pool to the winner, provided that a symmetric pure strategy equilibrium exists. If such an equilibrium fails to exist under the winner-take-all structure, we construct the optimal prize...