Bose, Arup ; Pal, Debashis ; Sappington, David E.M. (2010) On the design of piece-rate contracts Economics Letters, 107 (3). pp. 330-332. ISSN 0165-1765
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Official URL: http://linkinghub.elsevier.com/retrieve/pii/S01651...
Related URL: http://dx.doi.org/10.1016/j.econlet.2010.02.011
Abstract
We characterize the optimal piece-rate contract in the canonical moral hazard setting with a wealth-constrained, risk averse agent. The contract is shown to have a simple, intuitive characterization in a structured, but broad, class of settings.
| Item Type: | Article |
|---|---|
| Source: | Copyright of this article belongs to Elsevier Science. |
| Keywords: | Moral Hazard; Piece-rate Contracts |
| ID Code: | 5462 |
| Deposited On: | 18 Oct 2010 10:07 |
| Last Modified: | 18 Oct 2010 10:07 |
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