initial beliefs. I find that the seller’s payoffs under spot contracting can be higher than under commitment with …

productivity. The optimal contract rewards for financial performance and penalizes pollution. The combination of both contract … exceeds a threshold, the contract sensitivity to financial performance drops, its sensitivity to pollution emerges, and … environmental investment increases with pollution. In an economy with a continuum of polluting firms, contracting on firm pollution …

different types: effort and accident prevention. We explicitly characterize the optimal contract as well as optimal effort and … sublinearity of the contract and the allocation of resources on the two tasks crucially depend on the risk aversion of the agent …

complex information in agency relationships is for the contracting parties to choose exceedingly simple contracts - a fixed …

carried out by the agents rather than the owners, the agents' incentive to breach a contract for the benefit of their firm is … drawn for transition economies in which formal institutions for contract enforcement are weak …

-based incentives create a side-effect. Specifically, with a universal buy-back contract, the deadweight loss of signalling induced by …

population are technically constrained from falsifying reports and stealing cash. The original Bolton-Scharfstein contract may … not be optimal for a large range of parametric values. The optimal contract may induce falsification and stealing in … equilibrium and social welfare may be improved. Moreover, the optimal contract does not screen different types of agents …