Incentives for Information Production and Optimal Job Assignment with Human Capital Considerations
AbstractIn this paper, the authors examine the problem of inducing a manager to acquire information that is useful in determining his optimal job assignment but which might also adversel y affect his market value. The authors show that spot contracts are optimal and generate the first-best effort level when the manager is risk-neutral. When the manager is risk-averse, the optimal contract consists either of a partial insurance contract against downward revisions in compensation or a competitive spot contract, depending upon the nature of prior information. Copyright 1993 by The London School of Economics and Political Science.
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Bibliographic InfoArticle provided by London School of Economics and Political Science in its journal Economica.
Volume (Year): 60 (1993)
Issue (Month): 237 (February)
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- Shin, Dongsoo, 2008. "Information acquisition and optimal project management," International Journal of Industrial Organization, Elsevier, vol. 26(4), pages 1032-1043, July.
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