Matches in SemOpenAlex for { <https://semopenalex.org/work/W3123947360> ?p ?o ?g. }
Showing items 1 to 94 of
94
with 100 items per page.
- W3123947360 endingPage "39" @default.
- W3123947360 startingPage "1" @default.
- W3123947360 abstract "This paper studies a principal-agent model in which the information on future firm performance is ambiguous and the agent is averse to ambiguity. We show that if firm risk is ambiguous, while stocks always induce the agent to perceive a high risk, options can induce him to perceive a low risk. As a result, options can be less costly in incentivizing the agent than stocks in the presence of ambiguity. In addition, we show that providing the agent with more incentives would induce the agent to perceive a higher risk, and there is a discontinuous jump in the compensation cost as incentives increase, which makes the principal reluctant to reset contracts frequently when underlying fundamentals change. Thus, compensation contracts exhibit an inertia property. Lastly, the model sheds some light on the use of relative performance evaluation, and provides a rationale for the puzzle of pay-for-luck in the presence of ambiguity." @default.
- W3123947360 created "2021-02-01" @default.
- W3123947360 creator A5052693908 @default.
- W3123947360 creator A5072030390 @default.
- W3123947360 creator A5085028455 @default.
- W3123947360 date "2017-02-01" @default.
- W3123947360 modified "2023-09-23" @default.
- W3123947360 title "Incentive Contracting Under Ambiguity Aversion" @default.
- W3123947360 doi "https://doi.org/10.17016/ifdp.2017.1195" @default.
- W3123947360 hasPublicationYear "2017" @default.
- W3123947360 type Work @default.
- W3123947360 sameAs 3123947360 @default.
- W3123947360 citedByCount "0" @default.
- W3123947360 crossrefType "journal-article" @default.
- W3123947360 hasAuthorship W3123947360A5052693908 @default.
- W3123947360 hasAuthorship W3123947360A5072030390 @default.
- W3123947360 hasAuthorship W3123947360A5085028455 @default.
- W3123947360 hasBestOaLocation W31239473601 @default.
- W3123947360 hasConcept C10138342 @default.
- W3123947360 hasConcept C106159729 @default.
- W3123947360 hasConcept C111472728 @default.
- W3123947360 hasConcept C127447990 @default.
- W3123947360 hasConcept C129915516 @default.
- W3123947360 hasConcept C138885662 @default.
- W3123947360 hasConcept C151392489 @default.
- W3123947360 hasConcept C15744967 @default.
- W3123947360 hasConcept C162118730 @default.
- W3123947360 hasConcept C162324750 @default.
- W3123947360 hasConcept C175444787 @default.
- W3123947360 hasConcept C177605951 @default.
- W3123947360 hasConcept C189950617 @default.
- W3123947360 hasConcept C199360897 @default.
- W3123947360 hasConcept C200707436 @default.
- W3123947360 hasConcept C205649164 @default.
- W3123947360 hasConcept C205706631 @default.
- W3123947360 hasConcept C27206212 @default.
- W3123947360 hasConcept C2779795794 @default.
- W3123947360 hasConcept C2780023022 @default.
- W3123947360 hasConcept C2780522230 @default.
- W3123947360 hasConcept C29122968 @default.
- W3123947360 hasConcept C39389867 @default.
- W3123947360 hasConcept C41008148 @default.
- W3123947360 hasConcept C61783943 @default.
- W3123947360 hasConcept C77805123 @default.
- W3123947360 hasConcept C97137747 @default.
- W3123947360 hasConceptScore W3123947360C10138342 @default.
- W3123947360 hasConceptScore W3123947360C106159729 @default.
- W3123947360 hasConceptScore W3123947360C111472728 @default.
- W3123947360 hasConceptScore W3123947360C127447990 @default.
- W3123947360 hasConceptScore W3123947360C129915516 @default.
- W3123947360 hasConceptScore W3123947360C138885662 @default.
- W3123947360 hasConceptScore W3123947360C151392489 @default.
- W3123947360 hasConceptScore W3123947360C15744967 @default.
- W3123947360 hasConceptScore W3123947360C162118730 @default.
- W3123947360 hasConceptScore W3123947360C162324750 @default.
- W3123947360 hasConceptScore W3123947360C175444787 @default.
- W3123947360 hasConceptScore W3123947360C177605951 @default.
- W3123947360 hasConceptScore W3123947360C189950617 @default.
- W3123947360 hasConceptScore W3123947360C199360897 @default.
- W3123947360 hasConceptScore W3123947360C200707436 @default.
- W3123947360 hasConceptScore W3123947360C205649164 @default.
- W3123947360 hasConceptScore W3123947360C205706631 @default.
- W3123947360 hasConceptScore W3123947360C27206212 @default.
- W3123947360 hasConceptScore W3123947360C2779795794 @default.
- W3123947360 hasConceptScore W3123947360C2780023022 @default.
- W3123947360 hasConceptScore W3123947360C2780522230 @default.
- W3123947360 hasConceptScore W3123947360C29122968 @default.
- W3123947360 hasConceptScore W3123947360C39389867 @default.
- W3123947360 hasConceptScore W3123947360C41008148 @default.
- W3123947360 hasConceptScore W3123947360C61783943 @default.
- W3123947360 hasConceptScore W3123947360C77805123 @default.
- W3123947360 hasConceptScore W3123947360C97137747 @default.
- W3123947360 hasIssue "1195" @default.
- W3123947360 hasLocation W31239473601 @default.
- W3123947360 hasLocation W31239473602 @default.
- W3123947360 hasOpenAccess W3123947360 @default.
- W3123947360 hasPrimaryLocation W31239473601 @default.
- W3123947360 hasRelatedWork W2200110236 @default.
- W3123947360 hasRelatedWork W2384427481 @default.
- W3123947360 hasRelatedWork W2610574878 @default.
- W3123947360 hasRelatedWork W2771686003 @default.
- W3123947360 hasRelatedWork W2787992800 @default.
- W3123947360 hasRelatedWork W3121212101 @default.
- W3123947360 hasRelatedWork W3121620823 @default.
- W3123947360 hasRelatedWork W3122207097 @default.
- W3123947360 hasRelatedWork W3123947360 @default.
- W3123947360 hasRelatedWork W3125578513 @default.
- W3123947360 hasVolume "2017" @default.
- W3123947360 isParatext "false" @default.
- W3123947360 isRetracted "false" @default.
- W3123947360 magId "3123947360" @default.
- W3123947360 workType "article" @default.