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- W2340654329 abstract "We study a setting in which one or two agents conduct research on behalf of a principal. The agents binary performance level (suc- cess or failure) depends on their invested research e ort, and their choice of a research technology that is uncertain in respect of its apt- ness to generate a success. While in the single-agent-setting the agent has no incentive to deviate from the principal s preferred technology choice, this is not generally true for the multiagent-setting. When technologies are mutually exclusive - only one of them will be suit- able for yielding a high output - we show that there exists a contract that aligns the principal s and the agents interests. However, under the plausible assumption of scientists free technology choice, our re- sults suggest that there is a bias towards mainstream-research: Agents choose promising technologies more often than socially optimal." @default.
- W2340654329 created "2016-06-24" @default.
- W2340654329 creator A5060114313 @default.
- W2340654329 date "2015-01-01" @default.
- W2340654329 modified "2023-09-27" @default.
- W2340654329 title "Contracting with Researchers" @default.
- W2340654329 hasPublicationYear "2015" @default.
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