Optimal incentive contracts under moral hazard when the agent is free to leave

Zitieren

Dateien zu dieser Ressource

Dateien Größe Format Anzeige

Zu diesem Dokument gibt es keine Dateien.

ENGLMAIER, Florian, Gerd MUEHLHEUSSER, Andreas ROIDER, 2010. Optimal incentive contracts under moral hazard when the agent is free to leave

@techreport{Englmaier2010Optim-13485, series={IZA Discussion Paper Series;5027}, title={Optimal incentive contracts under moral hazard when the agent is free to leave}, year={2010}, author={Englmaier, Florian and Muehlheusser, Gerd and Roider, Andreas} }

<rdf:RDF xmlns:rdf="http://www.w3.org/1999/02/22-rdf-syntax-ns#" xmlns:bibo="http://purl.org/ontology/bibo/" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:dcterms="http://purl.org/dc/terms/" xmlns:xsd="http://www.w3.org/2001/XMLSchema#" > <rdf:Description rdf:about="https://kops.uni-konstanz.de/rdf/resource/123456789/13485"> <dc:creator>Englmaier, Florian</dc:creator> <bibo:uri rdf:resource="http://kops.uni-konstanz.de/handle/123456789/13485"/> <dc:contributor>Muehlheusser, Gerd</dc:contributor> <dc:creator>Muehlheusser, Gerd</dc:creator> <dc:contributor>Roider, Andreas</dc:contributor> <dcterms:rights rdf:resource="http://nbn-resolving.org/urn:nbn:de:bsz:352-20140905103605204-4002607-1"/> <dc:contributor>Englmaier, Florian</dc:contributor> <dc:date rdf:datatype="http://www.w3.org/2001/XMLSchema#dateTime">2011-10-13T14:18:30Z</dc:date> <dcterms:abstract xml:lang="eng">We characterize optimal incentive contracts in a moral hazard framework extended in two directions. First, after effort provision, the agent is free to leave and pursue some ex-post outside option. Second, the value of this outside option is increasing in effort, and hence endogenous. Optimal contracts may entail properties such as inducing first-best effort and surplus, or non-responsiveness with respect to changes in verifiable parameters. Moreover, while always socially inefficient, separation might occur in equilibrium. Except for the latter, these findings are robust to renegotiation. When the outside option is exogenous instead, the standard results obtain.</dcterms:abstract> <dc:creator>Roider, Andreas</dc:creator> <dcterms:available rdf:datatype="http://www.w3.org/2001/XMLSchema#dateTime">2011-10-13T14:18:30Z</dcterms:available> <dcterms:title>Optimal incentive contracts under moral hazard when the agent is free to leave</dcterms:title> <dc:rights>deposit-license</dc:rights> <dc:language>eng</dc:language> <dcterms:issued>2010</dcterms:issued> </rdf:Description> </rdf:RDF>

Das Dokument erscheint in:

KOPS Suche


Stöbern

Mein Benutzerkonto