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Team Incentives under Relative Performance Evaluation

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Author Info
Junichiro Ishida

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Abstract

"This paper examines the optimal provision of incentives in the repeated setting with many agents under the restriction that only relative performance evaluation is feasible for contracting. We show that the optimal contract in the repeated setting may take a different form than that in the static setting. In the repeated setting, it may be optimal for the principal to arbitrarily divide the agents into teams and compensate them based on team ranking, as it allows the principal to motivate the agents through peer sanctions. The situation draws a clear contrast to the static setting where such a strategy is never optimal. The result indicates that the concept of team plays an important role in the repeated setting even when performances can only be evaluated in relative terms." Copyright 2006, The Author(s) Journal Compilation (c) 2006 Blackwell Publishing.

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Publisher Info
Article provided by Blackwell Publishing in its journal Journal of Economics & Management Strategy.

Volume (Year): 15 (2006)
Issue (Month): 1 (03)
Pages: 187-206
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Handle: RePEc:bla:jemstr:v:15:y:2006:i:1:p:187-206

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  1. Junichiro Ishida, 2006. "Contracting with Self-Esteem Concerns," OSIPP Discussion Paper 06E004, Osaka School of International Public Policy, Osaka University.
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  2. Kvaløy, Ola & Olsen, Trond E., 2007. "Cooperation in knowledge-intensive firms," Discussion Papers 2007/27, Department of Finance and Management Science, Norwegian School of Economics and Business Administration. [Downloadable!]
    Other versions:
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This page was last updated on 2009-11-22.

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