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- W1998309209 abstract "Abstract The relationship between the center and the socialist manager in a decentralized planning environment is modeled in this article as one between principal and agent. A class of incentive contracts is examined in which, besides a sharing rule, the center stipulates an outcome target the manager must achieve; otherwise he will be paid a fixed payment. It is shown that the optimal incentive target is the lower bound of all feasible targets, while the optimal sharing rule is strictly locally convex at the optimal target." @default.
- W1998309209 created "2016-06-24" @default.
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- W1998309209 date "1986-06-01" @default.
- W1998309209 modified "2023-09-27" @default.
- W1998309209 title "Moral hazard and incentives in a decentralized planning environment" @default.
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- W1998309209 doi "https://doi.org/10.1016/0147-5967(86)90123-x" @default.
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