conflict of interest is positive but not too high. The value of mediation depends non-monotonically on the degree of conflict …We study the reasons and conditions under which mediation is beneficial when a principal needs information from an … mediator than through the agent himself. This implies that mediation is strictly helpful if and only if the likelihood of a …

performance, in a relational contract between a principal and a team of two agents. A main result is that the optimal incentive … agents' productivites affect the principal's temptation to renege on the relational contract. The analysis suggests that we …

conditions involve restrictions on the agent's preferences, particularly interactions between action and the wage contract. These … regarding the wage contract and its gradient are also discussed …

multiplicative separability condition, the optimal mechanism offers a single contract. This condition holds, for example, when output … likelihood ratio property, the mechanism offers a single debt contract. Our results generalize if the output distribution is … “close” to multiplicatively separable. Our model suggests that offering a single contract may be optimal in environments with …