, and analyze the principal's delegation choice to authorize a senior agent to contract with a junior agent based on reports …. We consider full-commitment contracts, i.e., the principal is assured that his contract for each agent is implemented … decentralized contract are driven by their incentives to share risk, and by their incentives to re-allocate their effort choices, i …

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

decisions as well. Hence, contract frames might influence the effectiveness of incentive schemes. This comment first outlines … seminal experimental studies on frames and describes recent work that relates the incentive contract literature with the …) work on individual incentives and contract frames …

In this paper, we consider a symmetric rent-seeking contest, where employees lobby for a governmental contract on … behalf of firms. The only verifiable information is which firm is assigned the contract. We derive the optimal wage contracts … of the employees and analyze, whether commitment by determining the wage contract prior to the competitor is profitable …

workers' environments and incentive pay. The authors employ Prendergast's (2002) theory that incorporates the delegation of … delegation of worker decision rights …

factor of the principal is her private information. I find that, in the separating contract, information revelation is always … the optimal separating contract. I find that, in the optimal contract of the "good" type, the bonus payment for high …, I show that the optimal separating contract generates higher surplus than the optimal pooling contract regardless of the …