Term Length and the Quality of Appointments
AbstractConsider a pricipal who appoints an agent. Let the agent potentially serve for a sufficiently long time that one principal is replaced by another over this period. Suppose also that the quality of the agent appointed increases with the effort the incumbent principal devotes to hiring. Then the quality of the appointment may increase with the length of the agent's term. Moreover, policies such as mandatory retirement which increase a principal's consern for output after he leaves office, may induce better hiring.
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Bibliographic InfoPaper provided by Department of Economics in its series University of Helsinki, Department of Economics with number 485.
Length: 14 pages
Date of creation: 2000
Date of revision:
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Postal: University of Helsinki; Department of Economics, P.O.Box 54 (Unioninkatu 37) FIN-00014 Helsingin Yliopisto
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Web page: http://www.helsinki.fi/politiikkajatalous/
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APPOINTMENTS ; LONG TERM ; LABOUR;
Other versions of this item:
- J20 - Labor and Demographic Economics - - Demand and Supply of Labor - - - General
- J40 - Labor and Demographic Economics - - Particular Labor Markets - - - General
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