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The Strategic Choice of Managerial Incentives

✍ Scribed by Steven D. Sklivas

Book ID
121344194
Publisher
The RAND Corporation
Year
1987
Tongue
English
Weight
206 KB
Volume
18
Category
Article
ISSN
0741-6261

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## Abstract We extend the __strategic contract model__ where the owner designs incentive schemes for her manager before the latter takes output decisions. Firstly, we introduce private knowledge regarding costs __within__ each owner–manager pair. Under adverse selection, we show that delegation inv