Implementing Coordinated Team Play
AbstractThis note studies a moral hazard model of joint production in which there are strong gains to coordination. The mechanism we propose for resolving the tacit collusion problem that arises in our setting is simple. A key aspect of the mechanism is the use of at- will contracts which provide the agents with the option to quit at any time.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Economic Theory.
Volume (Year): 74 (1997)
Issue (Month): 1 (May)
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Web page: http://www.elsevier.com/locate/inca/622869
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