The paper extends the optimal delegation framework pioneered by Holmström (1977, 1984) to a dynamic environment where …. We show that any mechanism can be implemented by a sequential menu of delegation sets where the agent first picks a … delegation set and then chooses an action within this set. For the uniform{quadratic case, we characterize when sequential …

entail a lower level of welfare for the parties to that contract. They also imply that real variables respond to nominal …

the specification of the type of contract to be awarded. Less attention has been paid to the incompleteness of the … contract; this issue is relevant in the public work sector because it offers room for the contract renegotiation and, therefore … procedures (i.e. negotiation vs. auction) on the contract renegotiation in the public work sector. The results show that, in …

standard tasks included in the incentive contract. Using data from a Chinese manufacturing company where employment contracts …, to validate the robustness of our findings, and to examine the impact of contract structure on important organizational … employee-initiated innovation activities that are difficult to contract upon ex ante …