Job design and randomization in principal agent models
AbstractWe analyze task allocation and randomization in Principal Agent models. We identify a new rationale that determines the allocation of tasks and show that it can be optimal to assign tasks that are very different to one agent. Similar to randomization, the reason to assign several tasks to one agent is to mitigate the effect of the participation constraint. We show that the allocation of tasks can be used as a substitute if randomization is not feasible.
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Bibliographic InfoPaper provided by Institute for Empirical Research in Economics - University of Zurich in its series IEW - Working Papers with number 381.
Date of creation: Jul 2008
Date of revision:
Job design; multi-task agency; ex-ante randomization; moral hazard;
Find related papers by JEL classification:
- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
This paper has been announced in the following NEP Reports:
- NEP-ALL-2008-09-05 (All new papers)
- NEP-BEC-2008-09-05 (Business Economics)
- NEP-CTA-2008-09-05 (Contract Theory & Applications)
- NEP-LAB-2008-09-05 (Labour Economics)
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