6-1.pdf

6-1.pdf
Preview of 6-1
🔗 Source: rationality-and-competition.de
📊 Size: 647 KB
📄 Pages: 56 pages
⬇️ Downloads: 81

Summary

Researchers analyze how present bias affects optimal contracting in an infinite-horizon employment setting, where a principal offers a menu of contracts to naive agents, including a virtual contract that motivates the agent and allows the principal to keep the agent below their outside option, potentially leading to inefficiently high effort under limited liability.

Description

Researchers analyze how present bias affects optimal contracting in an infinite-horizon employment setting, where a principal offers a menu of contracts to...

Technical Information

  • File Format: PDF
  • File Size: 647 KB
  • Pages: 56
  • Language: EN
  • Total Downloads: 81
  • Last Updated: 7 hours ago

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