be implemented even if the supervisor's preferences are unknown. The corresponding optimal contract is similar to what we …

I analyze a model in which a principal offers a contract to an agent and can influence the agent’s marginal return of …

contract. While enabling the principal to plan and control the project process better, the IPE may also adversely affect the … involves subjective measures, not using IPE may be in the principal's interest; the reason is that the contract now features a …

off by contracting on outcome. Under the hourly-rate contract, compared with the public effort case, the provider may be …We investigate the performance of two commonly used pricing schemes -- hourly-rate contract and two-part tariff -- in … visible to the buyer. In the private effort environment, we further distinguish between situations where the contract may be …

cost minimization problem of the principal, the objective of which is to design the cheapest contract inducing a target … effort. Our results confirm that a one-step bonus contract should be used, which means that a bonus contract is most …

about the project from the arrival of exogenous information and from the entrepreneur's contract offers. The optimal … contract features vesting and dilution, consistent with empirical evidence. Early payouts, pivots, and prestige projects emerge …