Similar Search Results

Are tournaments optimal over piece rates under limited liability for the principal?

Marinakis, Kosmas; Tsoulouhas, Theofanis C. - In: International journal of industrial organization 31 (2013) 3, pp. 223-237

Persistent link: https://www.econbiz.de/10009775038

Contests to become CEO : incentives, selection and handicaps

Tsoulouhas, Theofanis C.; Knoeber, Charles Robert; … - In: Economic theory : official journal of the Society for … 30 (2007) 2, pp. 195-221

Persistent link: https://www.econbiz.de/10003419711

Effort, talent, and inequality in a small open economy

Dinopoulos, Elias; Heins, Gunnar; Tsoulouhas, Theofanis C. - In: Journal of economic behavior & organization 224 (2024), pp. 248-265

Persistent link: https://www.econbiz.de/10014634073

Are Tournaments Optimal Over Piece Rates Under Limited Liability for the Principal?

Marinakis, Kosmas; Tsoulouhas, Theofanis C. - 2012

A highly acclaimed result in contract theory is that tournaments are superior to piece rate contracts when the agents are risk averse and their production activities are subject to a relatively large common shock. The reason is that tournaments allow the principal to trade insurance for lower...

Persistent link: https://www.econbiz.de/10014055632