Money burning in subjective evaluation and limited liability: A case for pay for performance
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DOI: 10.1016/j.econlet.2018.11.016
Abstract: Research on subjective evaluation in principal–agent models have shown that the optimal contract should give uniform reward with zero money burning at all but the worst performance. In a static game involving two independent tasks… read more here.
Keywords: limited liability; money burning; money; subjective evaluation ... See more keywords