Principal–Agent Settings with Random Shocks
نویسندگان
چکیده
منابع مشابه
Principal-Agent Settings with Random Shocks
Using a gift exchange experiment, we show that the ability of reciprocity to overcome incentive problems inherent in principal-agent settings is greatly reduced when the agent’s effort is distorted by random shocks and transmitted imperfectly to the principal. Specifically, we find that gift exchange contracts without shocks encourage effort and wages well above standard predictions. However, t...
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ژورنال
عنوان ژورنال: Management Science
سال: 2016
ISSN: 0025-1909,1526-5501
DOI: 10.1287/mnsc.2015.2177