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Monitoring and Pay: General results

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Author Info
Allgulin, Magnus (Dept. of Economics, Stockholm School of Economics)
Abstract

This paper considers the opitmal incentives for motivating a risk neutral, wealth constrained agent. In particular, monitoring and pay are shown to be complementary instruments under very general conditions, extending earlier results by Allgulin and Ellingsen (1998). The paper also proves that linear incentive schemes are strictly sub-optimal in this setting.

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Publisher Info
Paper provided by Stockholm School of Economics in its series Working Paper Series in Economics and Finance with number 340.

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Length: 15 pages
Date of creation: Oct 1999
Date of revision:
Handle: RePEc:hhs:hastef:0340

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Postal: The Economic Research Institute, Stockholm School of Economics, P.O. Box 6501, 113 83 Stockholm, Sweden
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Related research
Keywords: Monitoring; efficiency wages; incentive pay;

Find related papers by JEL classification:
J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
J41 - Labor and Demographic Economics - - Particular Labor Markets - - - Labor Contracts

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Cited by:
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  1. Pablo González, 2002. "Profit Sharing Reconsidered: Efficiency Wages and Renegotiation Costs," Documentos de Trabajo 151, Centro de Economía Aplicada, Universidad de Chile. [Downloadable!]
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