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Secret Contracts for Efficient Partnerships

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Author Info

  • David Rahman

    () (Department of Economics, University of Minnesota)

  • Ichiro Obara

    () (Department of Economics, University of Minnesota)

Abstract

By allocating di erent information to team members, secret contracts can provide better incentives to perform with an intuitive organizational design. For instance, they may help to monitor monitors, and appoint secret principals. Generally, secret contracts highlight a rich duality between detection and enforcement with linear transfers. On the one hand, disobedient deviations must be detectable to enforce a given outcome, but di erent behavior may be used to detect di erent deviations. On the other hand, disobedient deviations must be attributable, i.e., some individual can be identi ed as innocent, to provide incentives with budget balance.

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File URL: http://www.econ.umn.edu/merr/2008_3.pdf
File Function: First version, 2008
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Bibliographic Info

Paper provided by University of Minnesota, Department of Economics in its series Working Papers with number 2008-3.

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Length: 48 pages
Date of creation: 06 2008
Date of revision: 06 2008
Handle: RePEc:min:wpaper:2008-3

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Keywords: secret contracts; partnerships; duality; private monitoring.;

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