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Contracting with Repeated Moral Hazard and Private Evaluations

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  1. Elisabetta Iossa & Giancarlo Spagnolo, 2008. "Contracts as Threats: on a Rationale For Rewarding A while Hoping For B," EIEF Working Papers Series 1022, Einaudi Institute for Economics and Finance (EIEF), revised Dec 2010.
  2. Sugaya, Takuo & Wolitzky, Alexander, 2017. "Bounding equilibrium payoffs in repeated games with private monitoring," Theoretical Economics, Econometric Society, vol. 12(2), May.
  3. Gary-Bobo, Robert J. & Jaaidane, Touria, 2014. "Strikes and slowdown in a theory of relational contracts," European Journal of Political Economy, Elsevier, vol. 36(C), pages 89-116.
  4. Ján Zábojník, 2014. "Subjective evaluations with performance feedback," RAND Journal of Economics, RAND Corporation, vol. 45(2), pages 341-369, June.
  5. Lang, Matthias, 2019. "Communicating subjective evaluations," Journal of Economic Theory, Elsevier, vol. 179(C), pages 163-199.
  6. W. Bentley MacLeod, 2007. "Reputations, Relationships, and Contract Enforcement," Journal of Economic Literature, American Economic Association, vol. 45(3), pages 595-628, September.
  7. Saak, Alexander E., 2016. "Traceability and reputation in supply chains," International Journal of Production Economics, Elsevier, vol. 177(C), pages 149-162.
  8. Joseph E. Harrington & Andrzej Skrzypacz, 2011. "Private Monitoring and Communication in Cartels: Explaining Recent Collusive Practices," American Economic Review, American Economic Association, vol. 101(6), pages 2425-2449, October.
  9. Aislinn Bohren & Troy Kravitz, 2016. "Optimal Contracting with Costly State Verification, with an Application to Crowdsourcing," PIER Working Paper Archive 16-023, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania, revised 15 Jun 2016.
  10. Helmut Bester & Johannes Münster, 2016. "Subjective evaluation versus public information," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 61(4), pages 723-753, April.
  11. Bag, Parimal K. & Qian, Neng, 2019. "Money burning in subjective evaluation and limited liability: A case for pay for performance," Economics Letters, Elsevier, vol. 174(C), pages 208-213.
  12. Jean Guillaume Forand & Jan Zapal, 2017. "The Demand and Supply of Favours in Dynamic Relationships," CERGE-EI Working Papers wp605, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
  13. Alexander Frankel, 2014. "Aligned Delegation," American Economic Review, American Economic Association, vol. 104(1), pages 66-83, January.
  14. Rocco Macchiavello & Ameet Morjaria, 2015. "The Value of Relationships: Evidence from a Supply Shock to Kenyan Rose Exports," American Economic Review, American Economic Association, vol. 105(9), pages 2911-2945, September.
  15. Florian Ederer, 2010. "Feedback and Motivation in Dynamic Tournaments," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 19(3), pages 733-769, September.
  16. Li, Jin & Mukherjee, Arijit & Vasconcelos, Luis, 2019. "Managing performance evaluation systems: Relational incentives in the presence of learning-by-shirking," Working Papers 2018-12, Michigan State University, Department of Economics.
  17. Vianney Dequiedt & David Martimort, 2015. "Vertical Contracting with Informational Opportunism," American Economic Review, American Economic Association, vol. 105(7), pages 2141-2182, July.
  18. Yaron Leitner & Basil Williams, 2023. "Model Secrecy and Stress Tests," Journal of Finance, American Finance Association, vol. 78(2), pages 1055-1095, April.
  19. Francesc Dilmé & Daniel F. Garrett, 2023. "Relational Contracts: Public versus Private Savings," Econometrica, Econometric Society, vol. 91(3), pages 1025-1075, May.
  20. Helmut Bester & Matthias Dahm, 2018. "Credence Goods, Costly Diagnosis and Subjective Evaluation," Economic Journal, Royal Economic Society, vol. 128(611), pages 1367-1394, June.
  21. Fahad Khalil & Jacques Lawarrée & Troy J. Scott, 2015. "Private monitoring, collusion, and the timing of information," RAND Journal of Economics, RAND Corporation, vol. 46(4), pages 872-890, October.
  22. Daniel Danau & Annalisa Vinella, 2017. "From fixed to state‐dependent duration in public‐private partnerships," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 26(3), pages 636-660, September.
  23. Maestri, Lucas, 2014. "The efficiency of bonus-or-terminate incentive schemes under subjective evaluations," Games and Economic Behavior, Elsevier, vol. 87(C), pages 412-418.
  24. Goldlücke, Susanne & Kranz, Sebastian, 2012. "Infinitely repeated games with public monitoring and monetary transfers," Journal of Economic Theory, Elsevier, vol. 147(3), pages 1191-1221.
  25. Terstiege, Stefan, 2013. "Objective versus Subjective Performance Evaluations," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 430, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
  26. Bin R. Chen & Y. Stephen Chiu, 2013. "Interim Performance Evaluation in Contract Design," Economic Journal, Royal Economic Society, vol. 123, pages 665-698, June.
  27. Wagner, Alexander F., 2011. "Relational contracts when the agent's productivity inside the relationship is correlated with outside opportunities," CEPR Discussion Papers 8378, C.E.P.R. Discussion Papers.
  28. Budde, Jörg, 2013. "Verifiable and Nonverifiable Information in a Two-Period Agency Problem," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 445, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
  29. Chan, Jimmy & Zhang, Wenzhang, 2023. "Self-evident events and the value of linking," Journal of Economic Theory, Elsevier, vol. 212(C).
  30. Dmitry Orlov, 2014. "Optimal Design of Internal Disclosure," 2014 Meeting Papers 314, Society for Economic Dynamics.
  31. Takahashi, Shingo & Owan, Hideo & Tsuru, Tsuyoshi & Uehara, Katsuhito, 2014. "Multitasking Incentives and Biases in Subjective Performance Evaluation," Discussion Paper Series 614, Institute of Economic Research, Hitotsubashi University.
  32. Dumav, Martin & Fuchs, William & Lee, Jangwoo, 2022. "Self-enforcing contracts with persistence," Journal of Monetary Economics, Elsevier, vol. 128(C), pages 72-87.
  33. Matthias Lang, 2023. "Stochastic contracts and subjective evaluations," RAND Journal of Economics, RAND Corporation, vol. 54(1), pages 104-134, March.
  34. Xinhao He & Jin Li & Zhaoneng Yuan, 2022. "Optimal Subjective Contracting with Revision," Management Science, INFORMS, vol. 68(8), pages 6346-6354, August.
  35. Kevin Lang & Kaiwen Leong & Huailu Li & Haibo Xu, 2019. "Lending to the Unbanked: Relational Contracting with Loan Sharks," NBER Working Papers 26400, National Bureau of Economic Research, Inc.
  36. J. Miguel Villas-Boas, 2020. "Repeated Interaction in Teams: Tenure and Performance," Management Science, INFORMS, vol. 66(3), pages 1496-1507, March.
  37. Joyee Deb & Jin Li & Arijit Mukherjee, 2015. "Relational Contracts with Subjective Peer Evaluations," Cowles Foundation Discussion Papers 1995, Cowles Foundation for Research in Economics, Yale University.
  38. Miriam Schütte & Philipp Christoph Wichardt, 2013. "Delegation and Interim Performance Evaluation," CESifo Working Paper Series 4193, CESifo.
  39. Orlov, Dmitry, 2022. "Frequent monitoring in dynamic contracts," Journal of Economic Theory, Elsevier, vol. 206(C).
  40. Luis Garicano & Luis Rayo, 2016. "Why Organizations Fail: Models and Cases," Journal of Economic Literature, American Economic Association, vol. 54(1), pages 137-192, March.
  41. David Rahman, 2014. "The Power of Communication," American Economic Review, American Economic Association, vol. 104(11), pages 3737-3751, November.
  42. David Rahman, 2012. "But Who Will Monitor the Monitor?," American Economic Review, American Economic Association, vol. 102(6), pages 2767-2797, October.
  43. Qi Luo & Romesh Saigal, 2020. "Dynamic Multiagent Incentive Contracts: Existence, Uniqueness, and Implementation," Mathematics, MDPI, vol. 9(1), pages 1-17, December.
  44. Herbold, Daniel & Schumacher, Heiner, 2020. "The agency costs of on-the-job search," Games and Economic Behavior, Elsevier, vol. 121(C), pages 435-452.
  45. Chen Cheng, 2021. "Moral hazard in teams with subjective evaluations," RAND Journal of Economics, RAND Corporation, vol. 52(1), pages 22-48, March.
  46. Cremer, Jacques & Khalil, Fahad, 1992. "Gathering Information before Signing a Contract," American Economic Review, American Economic Association, vol. 82(3), pages 566-578, June.
  47. Mengxi Zhang, 2019. "When the principal knows better than the agent: Subjective evaluations as an optimal disclosure mechanism," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 28(4), pages 631-655, November.
  48. William Fuchs, 2015. "Subjective Evaluations: Discretionary Bonuses and Feedback Credibility," American Economic Journal: Microeconomics, American Economic Association, vol. 7(1), pages 99-108, February.
  49. Heski Bar-Isaac & Joyee Deb, 2021. "Reputation With Opportunities for Coasting," Journal of the European Economic Association, European Economic Association, vol. 19(1), pages 200-236.
  50. Gwen-Jiro Clochard & Guillaume Hollard & Julia Wirtz, 2022. "More effort or better technologies? On the effect of relative performance feedback," Bristol Economics Discussion Papers 22/767, School of Economics, University of Bristol, UK.
  51. Rocco Macchiavello & Ameet Morjaria, 2015. "The Value of Relationships: Evidence from a Supply Shock to Kenyan Rose Exports," American Economic Review, American Economic Association, vol. 105(9), pages 2911-2945, September.
  52. Wu Joseph S. K. & Ho Chi Pui, 2017. "The Shapiro-Stiglitz Model with Non-constant Marginal Utility," Open Economics, De Gruyter, vol. 1(1), pages 36-48, August.
  53. Marta Troya-Martinez, 2017. "Self-Enforcing Trade Credit," Working Papers w0240, Center for Economic and Financial Research (CEFIR).
  54. Shingo Takahashi & Hideo Owan & Tsuyoshi Tsuru & Katsuhito Uehara, 2014. "Perceptions to climatic changes and cooperative attitudes toward flood protection in Bangladesh," Working Papers EMS_2014_11, Research Institute, International University of Japan.
  55. Yiqing Xing & Anqi Li, 2014. "Simple Labor Income Tax Systems with Endogenous Employment Contracts," 2014 Meeting Papers 866, Society for Economic Dynamics.
  56. Sugaya, Takuo & Wolitzky, Alexander, 2018. "Bounding payoffs in repeated games with private monitoring: n-player games," Journal of Economic Theory, Elsevier, vol. 175(C), pages 58-87.
  57. Benjamin Brooks & Alexander Frankel & Emir Kamenica, 2022. "Information Hierarchies," Econometrica, Econometric Society, vol. 90(5), pages 2187-2214, September.
  58. Yuichi Yamamoto, 2012. "Individual Learning and Cooperation in Noisy Repeated Games," PIER Working Paper Archive 12-044, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
  59. Martin Dumav, 2021. "Moral Hazard, Dynamic Incentives, and Ambiguous Perceptions," Papers 2110.15229, arXiv.org.
  60. Akifumi Ishihara, 2020. "On Multitasking and Job Design in Relational Contracts," Journal of Industrial Economics, Wiley Blackwell, vol. 68(4), pages 693-736, December.
  61. Marta Troya-Martinez, 2013. "Vertical Relational Contracts and Trade Credit," Economics Series Working Papers 648, University of Oxford, Department of Economics.
  62. Grochulski, Borys & Zhang, Yuzhe, 2023. "Termination as an incentive device," Theoretical Economics, Econometric Society, vol. 18(1), January.
  63. Spagnolo, Giancarlo & Calzolari, Giacomo, 2009. "Relational Contracts and Competitive Screening," CEPR Discussion Papers 7434, C.E.P.R. Discussion Papers.
  64. Marina Halac, 2012. "Relational Contracts and the Value of Relationships," American Economic Review, American Economic Association, vol. 102(2), pages 750-779, April.
  65. , H. & ,, 2016. "Approximate efficiency in repeated games with side-payments and correlated signals," Theoretical Economics, Econometric Society, vol. 11(1), January.
  66. Terstiege, Stefan, 2014. "Private versus verifiable interim performance evaluations under uncertainty," Economics Letters, Elsevier, vol. 123(3), pages 341-344.
  67. Awaya, Yu & Do, Jihwan, 2022. "Incentives under equal-pay constraint and subjective peer evaluation," Games and Economic Behavior, Elsevier, vol. 135(C), pages 41-59.
  68. Fong, Yuk-fai & Li, Jin, 2017. "Relational contracts, limited liability, and employment dynamics," Journal of Economic Theory, Elsevier, vol. 169(C), pages 270-293.
  69. Chen, Bin R., 2015. "Subjective performance feedback, ability attribution, and renegotiation-proof contracts," Journal of Economic Behavior & Organization, Elsevier, vol. 117(C), pages 155-174.
  70. Fleckinger, Pierre & Martimort, David & Roux, Nicolas, 2023. "Should They Compete or Should They Cooperate? The View of Agency Theory," TSE Working Papers 23-1421, Toulouse School of Economics (TSE), revised Jan 2024.
  71. Kazumi Hori, 2014. "Contracting for Multiple Goods under Asymmetric Information: The Two-goods Case," KIER Working Papers 888, Kyoto University, Institute of Economic Research.
  72. Robert Gibbons, 2010. "Inside Organizations: Pricing, Politics, and Path Dependence," Annual Review of Economics, Annual Reviews, vol. 2(1), pages 337-365, September.
  73. Zhao, Rui R., 2009. "Productive low morale," Economics Letters, Elsevier, vol. 103(1), pages 18-22, April.
  74. James M. Malcomson, 2012. "Relational Incentive Contracts [The Handbook of Organizational Economics]," Introductory Chapters,, Princeton University Press.
  75. Ekinci, Emre, 2019. "Discretionary bonuses and turnover," Labour Economics, Elsevier, vol. 60(C), pages 30-49.
  76. Robert Gibbons & Rebecca Henderson, 2012. "Relational Contracts and Organizational Capabilities," Organization Science, INFORMS, vol. 23(5), pages 1350-1364, October.
  77. Robert Gibbons & Robert S. Kaplan, 2015. "Formal Measures in Informal Management: Can a Balanced Scorecard Change a Culture?," American Economic Review, American Economic Association, vol. 105(5), pages 447-451, May.
  78. Maria Goltsman & Arijit Mukherjee, 2011. "Interim Performance Feedback in Multistage Tournaments: The Optimality of Partial Disclosure," Journal of Labor Economics, University of Chicago Press, vol. 29(2), pages 229-265.
  79. Shingo Ishiguro & Yosuke Yasuda, 2018. "Moral Hazard and Target Budgets," Discussion Papers in Economics and Business 18-03, Osaka University, Graduate School of Economics.
  80. Yuichi Yamamoto, 2013. "Individual Learning and Cooperation in Noisy Repeated Games," PIER Working Paper Archive 13-038, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
  81. David A. Miller & Joel Watson, 2013. "A Theory of Disagreement in Repeated Games With Bargaining," Econometrica, Econometric Society, vol. 81(6), pages 2303-2350, November.
  82. Brett Green & Curtis R. Taylor, 2016. "Breakthroughs, Deadlines, and Self-Reported Progress: Contracting for Multistage Projects," American Economic Review, American Economic Association, vol. 106(12), pages 3660-3699, December.
  83. Lucas Maestri, 2012. "Bonus Payments versus Efficiency Wages in the Repeated Principal-Agent Model with Subjective Evaluations," American Economic Journal: Microeconomics, American Economic Association, vol. 4(3), pages 34-56, August.
  84. Zhiyong Yao & Bingyong Zheng, 2014. "Feasibility, Stability, and Multiple Research Joint Ventures," Scottish Journal of Political Economy, Scottish Economic Society, vol. 61(2), pages 196-210, May.
  85. Jan Zabojnik, 2011. "Subjective Evaluations With Performance Feedback," Working Paper 1283, Economics Department, Queen's University.
  86. Daniel Barron & Jin Li & Michał Zator, 2022. "Morale and Debt Dynamics," Management Science, INFORMS, vol. 68(6), pages 4496-4516, June.
  87. Herbold, Daniel, 2013. "Effort Incentives and On-the-Job Search: An Alternative Role for Efficiency Wages in Employment Contracts," VfS Annual Conference 2013 (Duesseldorf): Competition Policy and Regulation in a Global Economic Order 79983, Verein für Socialpolitik / German Economic Association.
  88. Stephen Eliot Hansen, 2010. "The Benefits of Limited Feedback in Organizations," Working Papers 490, Barcelona School of Economics.
  89. FOSCHI, Matteo; SANTOS-PINTO, Luís Pedro, 2017. "Subjective Performance Evaluation of Employees with Biased Beliefs," Economics Working Papers ECO 2017/08, European University Institute.
  90. Juan‐José Ganuza & Fernando Gomez, 2022. "Designing relational sanctions in buyer–supplier relationships," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 31(2), pages 470-491, April.
  91. Zhao, Rui R., 2012. "Renegotiation and conflict resolution in relational contracting," Games and Economic Behavior, Elsevier, vol. 75(2), pages 964-983.
  92. Emilio Bisetti & Benjamin Tengelsen & Ariel Zetlin‐Jones, 2022. "Moral Hazard In Remote Teams," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 63(4), pages 1595-1623, November.
  93. Joel Watson, 2021. "Theoretical Foundations of Relational Incentive Contracts," Annual Review of Economics, Annual Reviews, vol. 13(1), pages 631-659, August.
  94. Isaiah Andrews & Daniel Barron, 2016. "The Allocation of Future Business: Dynamic Relational Contracts with Multiple Agents," American Economic Review, American Economic Association, vol. 106(9), pages 2742-2759, September.
  95. Anton Suvorov & Jeroen van de Ven, 2006. "Discretionary Bonuses as a Feedback Mechanism," Working Papers w0088, Center for Economic and Financial Research (CEFIR).
  96. Suvorov, Anton & van de Ven, Jeroen, 2009. "Discretionary rewards as a feedback mechanism," Games and Economic Behavior, Elsevier, vol. 67(2), pages 665-681, November.
  97. W. Bentley MacLeod & Teck Yong Tan, 2016. "Optimal Contracting with Subjective Evaluation: The Effects of Timing, Malfeasance and Guile," NBER Working Papers 22156, National Bureau of Economic Research, Inc.
  98. Marta Troya-Martinez, 2017. "Self-Enforcing Trade Credit," Working Papers w0240, New Economic School (NES).
  99. Takuo Sugaya, 2022. "Folk Theorem in Repeated Games with Private Monitoring [Collusion in Dynamic Bertrand Oligopoly with Correlated Private Signals and Communication]," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 89(4), pages 2201-2256.
  100. Au, Pak Hung & Chen, Bin R., 2019. "Objective and subjective indicators in long-term contracting," Journal of Economic Behavior & Organization, Elsevier, vol. 166(C), pages 309-331.
  101. Ishiguro, Shingo & Yasuda, Yosuke, 2023. "Moral hazard and subjective evaluation," Journal of Economic Theory, Elsevier, vol. 209(C).
  102. Solan, Eilon & Zhao, Chang, 2023. "When (not) to publicize inspection results," Journal of Economic Theory, Elsevier, vol. 210(C).
  103. Troya-Martinez, Marta, 2017. "Self-enforcing trade credit," International Journal of Industrial Organization, Elsevier, vol. 52(C), pages 333-357.
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