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Tagged with contract-theory incentives
3 questions
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Incentive compatibility constraint with continuous types
I have a Principal agent problem where principal knows about the information about the agent which is critical to both the parties. Principal is a business tycoon who has an inside information about ...
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Which mathematics are required for fully understanding the theories of the firm?
When I say "theories of the firm", I'm referring, in particular, to the theories exposed in the next works: 1) Transaction Cost Economics exposed in "Transaction Cost Economics" by ...
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What is the meaning of "labor input" in the context of incentive theories?
In the article "Multitask Principal-Agent Analyses: Incentive Contracts, Asset Ownership, and Job Design" (Holmström and Milgrom, 1991) it is said that two identical agents ($i=1,2$) devote ...