Blar i NHH Brage på emneord "multiagent moral hazard"
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Relative performance evaluation, agent hold-up and firm organization
(Discussion paper, Working paper, 2007-07)We analyze a situation where common noise makes compensation based on relative performance evaluation (RPE) desirable, but where the agents' ability to hold-up values ex post obstruct the implementation of optimal RPE ... -
The rise of individual performance pay
(Discussion paper, Working paper, 2006-07)Why does individual performance pay seem to prevail in human-capital-intensive industries where teamwork is so common? We present a model that aims to explain this. In a repeated game model of relational contracting, we ...