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Secret Contracts for Efficient Partnerships

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  • Ichiro Obara
  • David Rahman

Abstract

By allocating di erent information to team members, secret contracts can provide better incentives to perform with an intuitive organizational design. For instance, they may help to monitor monitors, and appoint secret principals. Generally, secret contracts highlight a rich duality between detection and enforcement with linear transfers. On the one hand, disobedient deviations must be detectable to enforce a given outcome, but di erent behavior may be used to detect di erent deviations. On the other hand, disobedient deviations must be attributable, i.e., some individual can be identi ed as innocent, to provide incentives with budget balance.
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Suggested Citation

  • Ichiro Obara & David Rahman, 2008. "Secret Contracts for Efficient Partnerships," Levine's Working Paper Archive 122247000000002236, David K. Levine.
    • Handle: RePEc:cla:levarc:122247000000002236
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    File URL: http://www.dklevine.com/archive/refs4122247000000002236.pdf
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    Cited by:

    1. Alex Gershkov & Jianpei Li & Paul Schweinzer, 2009. "Efficient tournaments within teams," RAND Journal of Economics, RAND Corporation, vol. 40(1), pages 103-119, March.
    2. David Rahman, 2014. "The Power of Communication," American Economic Review, American Economic Association, vol. 104(11), pages 3737-3751, November.

    More about this item

    JEL classification:

    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
    • D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design

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