This file is part of IDEAS , which uses RePEc data
[ Papers |
Articles |
Software |
Books |
Chapters |
Authors |
Institutions |
JEL Classification |
NEP reports |
Search |
New papers by email |
Author registration |
Rankings |
Volunteers |
FAQ |
Blog |
Help! ]
Competition for Agency Contracts Author info | Abstract | Publisher info | Download info | Related research | Statistics R. Preston McAfee
John McMillan
Additional information is available for the following
registered author(s):
This article introduces a market for the services of agents into a principal-agent model. The principal and the potential agents are risk neutral. The contract trades off adverse selection against moral hazard. In a broad range of circumstances the optimal contract is linear in the outcome. In an incentive-compatible contract the more able is an agent, the larger is his contractual share of his marginal output; thus, a more able agent is induced to work at a rate closer to the first-best.
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
file . Note that these files are not on the IDEAS
site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Article provided by The RAND Corporation in its journal RAND Journal of Economics .
Volume (Year): 18 (1987)
Issue (Month): 2 (Summer)
Pages: 296-307
Download reference. The following formats are available: HTML ,
plain text ,
BibTeX ,
RIS (EndNote),
ReDIF
Handle: RePEc:rje:randje:v:18:y:1987:i:summer:p:296-307Contact details of provider: Web page: http://www.rje.org
Order Information: Web: http://gemini.econ.umd.edu/cgi-bin/rje_online.cgi
For technical questions regarding this item, or to correct its listing, contact: ().
Keywords: Cited by : (explanations , Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.)
Thomas Giebe & Oliver Gürtler, 2008.
"Optimal Contracts for Lenient Supervisors ,"
Discussion Papers
237, SFB/TR 15 Governance and the Efficiency of Economic Systems, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
[Downloadable!]
Galal, Ahmed & Nauriyal, Bharat, 1995.
"Regulating telecommunications in developing countries : outcomes, incentives, and commitment ,"
Policy Research Working Paper Series
1520, The World Bank.
[Downloadable!]
Sander Onderstal & Pierre Koning, 2004.
"Auctioning incentive contracts: application to welfare-to-work programs ,"
CPB Discussion Papers
38, CPB Netherlands Bureau for Economic Policy Analysis.
[Downloadable!]
Jose E. Quintero Jaramillo, 2004.
"Liquidity Constraints And Credit Subsidies In Auctions ,"
Business Economics Working Papers
wb040604, Universidad Carlos III, Departamento de Economía de la Empresa.
[Downloadable!]
Leopold Soegner, 1998.
"Regulation of a Complementary Imputed Good in a Competitive Environment ,"
Department of Economics Working Papers
wuwp056, Vienna University of Economics and B.A., Department of Economics.
[Downloadable!]
Walter A Cont, 2001.
"Essays on Contract Design: Delegation and Agency Problems, and Monitoring Under Collusion ,"
Levine's Working Paper Archive
625018000000000122, UCLA Department of Economics.
[Downloadable!]
Edward Simpson Prescott, 2004.
"State-contingent bank regulation with unobserved actions and unobserved characteristics ,"
Working Paper
04-02, Federal Reserve Bank of Richmond.
[Downloadable!]
Other versions:
David A. Marshall & Edward Simpson Prescott, 2002.
"State-contingent bank regulation with unobserved action and unobserved characteristics ,"
Working Paper Series
WP-02-24, Federal Reserve Bank of Chicago.
[Downloadable!] David A. Marshall & Edward Simpson Prescott, 2004.
"State-Contingent Bank Regulation With Unobserved Actionas And Unobserved Characteristics ,"
Working Papers
wp2004_0407, CEMFI.
[Downloadable!] Marshall, David A. & Prescott, Edward Simpson, 2006.
"State-contingent bank regulation with unobserved actions and unobserved characteristics ,"
Journal of Economic Dynamics and Control ,
Elsevier, vol. 30(11), pages 2015-2049, November.
[Downloadable!] (restricted) Manuel Santos & Jorge Aseff, .
"Stock Options and Managerial Optimal Contracts ,"
Working Papers
2133304, Department of Economics, W. P. Carey School of Business, Arizona State University.
[Downloadable!]
Other versions: Tracy R. Lewis & David E. M. Sappington, 2000.
"Motivating Wealth-Constrained Actors ,"
American Economic Review ,
American Economic Association, vol. 90(4), pages 944-960, September.
[Downloadable!] (restricted)
William P. Rogerson, 2003.
"Simple Menus of Contracts in Cost-Based Procurement and Regulation ,"
American Economic Review ,
American Economic Association, vol. 93(3), pages 919-926, June.
[Downloadable!]
Marco Celentani & Juan J. Ganuza, 2000.
"Corruption and Competition in Procurement ,"
Economics Working Papers
464, Department of Economics and Business, Universitat Pompeu Fabra, revised Mar 2001.
[Downloadable!]
Other versions: François MARECHAL, 2003.
"Should we base procurement rules on the competition of linear incentive contracts ? ,"
Cahiers de Recherches Economiques du Département d'Econométrie et d'Economie politique (DEEP)
03.07, Université de Lausanne, Faculté des HEC, DEEP.
[Downloadable!]
D. K"Ubler, .
"Auctioning Off Labor Contracts: Legal Restrictions Reconsidered ,"
Sonderforschungsbereich 373
1996-22, Humboldt Universitaet Berlin.
Joel Sobel, 1996.
"Bean Counting: Standard Choice in a Two-Dimensional Incentive Problem ,"
University of California at San Diego, Economics Working Paper Series
96-20, Department of Economics, UC San Diego.
[Downloadable!]
JULLIEN, Bruno & SALANIÉ, Bernard & SALANIÉ, François, 2001.
"Screening Risk-Averse Agents Under Moral Hazard ,"
IDEI Working Papers
131, Institut d'Économie Industrielle (IDEI), Toulouse.
[Downloadable!]
Other versions:
Jullien, Bruno & Salanié, Bernard & Salanié, François, 2001.
"Screening Risk Averse Agents Under Moral Hazard ,"
CEPR Discussion Papers
3076, C.E.P.R. Discussion Papers.
[Downloadable!] (restricted) Jullien, B. & Salanie, B. & Salanie, F., 2000.
"Screening Risk-Averse Agents Under Moral Hazard ,"
Working Papers
2000-41, Centre de Recherche en Economie et Statistique.
Gould, Eric D & Pashigian, B. Peter & Prendergast, Canice, 2002.
"Contracts, Externalities and Incentives in Shopping Malls ,"
CEPR Discussion Papers
3598, C.E.P.R. Discussion Papers.
[Downloadable!] (restricted)
Other versions: D. K"Ubler, .
"General Training and Information Costs: Who Benefits from Flexible Workers? ,"
Sonderforschungsbereich 373
1996-23, Humboldt Universitaet Berlin.
Peter M. DeMarzo & Ilan Kremer & Andrzej Skrzypacz, 2004.
"Bidding With Securities: Auctions and Security Design ,"
NBER Working Papers
10891, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Other versions:
Andrzej Skrzypacz & Peter M. DeMarzo & Ilan Kremer, 2004.
"Bidding with Securities: Auctions and Security Design ,"
Econometric Society 2004 North American Winter Meetings
637, Econometric Society.
Andrzej Skrzypacz & Peter M. DeMarzo & Ilan Kremer, 2004.
"Bidding with Securities: Auctions and Security Design ,"
Econometric Society 2004 North American Winter Meetings
641, Econometric Society.
Peter M. DeMarzo & Ilan Kremer & Andrzej Skrzypacz, 2005.
"Bidding with Securities: Auctions and Security Design ,"
American Economic Review ,
American Economic Association, vol. 95(4), pages 936-959, September.
[Downloadable!] Tracy R. Lewis & Huseyin Yildirim, 2002.
"Managing Dynamic Competition ,"
American Economic Review ,
American Economic Association, vol. 92(4), pages 779-797, September.
[Downloadable!]
Access and
download statistics Did you know? There are over 18000 authors registered on RePEc Author Service .
This page was last updated on 2008-12-28.
This information is provided to you by IDEAS at the Department of Economics , College of Liberal Arts and Sciences , University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics .