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Do tournaments solve the two-sided moral hazard problem?

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  • Tsoulouhas, Theofanis

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  • Tsoulouhas, Theofanis, 1999. "Do tournaments solve the two-sided moral hazard problem?," Journal of Economic Behavior & Organization, Elsevier, vol. 40(3), pages 275-294, November.
  • Handle: RePEc:eee:jeborg:v:40:y:1999:i:3:p:275-294
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    1. Reid, Joseph D., 1973. "Sharecropping As An Understandable Market Response: The Post-Bellum South," The Journal of Economic History, Cambridge University Press, vol. 33(01), pages 106-130, March.
    2. Lazear, Edward P & Rosen, Sherwin, 1981. "Rank-Order Tournaments as Optimum Labor Contracts," Journal of Political Economy, University of Chicago Press, vol. 89(5), pages 841-864, October.
    3. Green, Edward J., 1990. "Classical statistics as a theory of incentives," Games and Economic Behavior, Elsevier, vol. 2(1), pages 13-28, March.
    4. Duncan P. Mann & Jennifer P. Wissink, 1988. "Money-Back Contracts with Double Moral Hazard," RAND Journal of Economics, The RAND Corporation, vol. 19(2), pages 285-292, Summer.
    5. Srabana Gupta & Richard E. Romano, 1998. "Monitoring the Principal with Multiple Agents," RAND Journal of Economics, The RAND Corporation, vol. 29(2), pages 427-442, Summer.
    6. Sugato Bhattacharyya & Francine Lafontaine, 1995. "Double-Sided Moral Hazard and the Nature of Share Contracts," RAND Journal of Economics, The RAND Corporation, vol. 26(4), pages 761-781, Winter.
    7. Russell Cooper & Thomas W. Ross, 1985. "Product Warranties and Double Moral Hazard," RAND Journal of Economics, The RAND Corporation, vol. 16(1), pages 103-113, Spring.
    8. Eswaran, Mukesh & Kotwal, Ashok, 1985. "A Theory of Contractual Structure in Agriculture," American Economic Review, American Economic Association, vol. 75(3), pages 352-367, June.
    9. Legros, Patrick & Matsushima, Hitoshi, 1991. "Efficiency in partnerships," Journal of Economic Theory, Elsevier, vol. 55(2), pages 296-322, December.
    10. Richard E. Romano, 1994. "Double Moral Hazard and Resale Price Maintenance," RAND Journal of Economics, The RAND Corporation, vol. 25(3), pages 455-466, Autumn.
    11. Mathewson, G Frank & Winter, Ralph A, 1985. "The Economics of Franchise Contracts," Journal of Law and Economics, University of Chicago Press, vol. 28(3), pages 503-526, October.
    12. Green, Jerry R & Stokey, Nancy L, 1983. "A Comparison of Tournaments and Contracts," Journal of Political Economy, University of Chicago Press, vol. 91(3), pages 349-364, June.
    13. Pittman, Russell, 1992. "Specific Investments, Contracts, and Opportunism: The Evolution of Railroad Sidetrack Agreements," Journal of Law and Economics, University of Chicago Press, vol. 34(2), pages 565-589, October.
    14. Al-Najjar, Nabil I., 1997. "Incentive Contracts in Two-Sided Moral Hazards with Multiple Agents," Journal of Economic Theory, Elsevier, vol. 74(1), pages 174-195, May.
    15. Paul R. Milgrom, 1981. "Good News and Bad News: Representation Theorems and Applications," Bell Journal of Economics, The RAND Corporation, vol. 12(2), pages 380-391, Autumn.
    16. Joel S. Demski & David E.M. Sappington, 1991. "Resolving Double Moral Hazard Problems with Buyout Agreements," RAND Journal of Economics, The RAND Corporation, vol. 22(2), pages 232-240, Summer.
    17. Theofanis Tsoulouhas & Tomislav Vukina, 1999. "Integrator Contracts with Many Agents and Bankruptcy," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 81(1), pages 61-74.
    18. Grossman, Sanford J & Hart, Oliver D, 1983. "An Analysis of the Principal-Agent Problem," Econometrica, Econometric Society, vol. 51(1), pages 7-45, January.
    19. Holmstrom, Bengt & Milgrom, Paul, 1987. "Aggregation and Linearity in the Provision of Intertemporal Incentives," Econometrica, Econometric Society, vol. 55(2), pages 303-328, March.
    20. Rubin, Paul H, 1978. "The Theory of the Firm and the Structure of the Franchise Contract," Journal of Law and Economics, University of Chicago Press, vol. 21(1), pages 223-233, April.
    21. Al-Najjar, Nabil Ibraheem, 1995. "Reputation, Product Quality, and Warranties," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 3(4), pages 605-637, Winter.
    22. Carmichael, H Lorne, 1983. "The Agent-Agents Problem: Payment by Relative Output," Journal of Labor Economics, University of Chicago Press, vol. 1(1), pages 50-65, January.
    23. Malcomson, James M, 1984. "Work Incentives, Hierarchy, and Internal Labor Markets," Journal of Political Economy, University of Chicago Press, vol. 92(3), pages 486-507, June.
    24. Knoeber, Charles R, 1989. "A Real Game of Chicken: Contracts, Tournaments, and the Production of Broilers," Journal of Law, Economics, and Organization, Oxford University Press, vol. 5(2), pages 271-292, Fall.
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    Cited by:

    1. Donald Vandegrift & Abdullah Yavas & Paul Brown, 2007. "Incentive effects and overcrowding in tournaments: An experimental analysis," Experimental Economics, Springer;Economic Science Association, vol. 10(4), pages 345-368, December.
    2. Helal, Uddin, 2002. "Protecting Contract Growers Of Broiler Chicken Industry," 2002 Annual meeting, July 28-31, Long Beach, CA 19834, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    3. Marinakis, Kosmas & Tsoulouhas, Theofanis, 2013. "Are tournaments optimal over piece rates under limited liability for the principal?," International Journal of Industrial Organization, Elsevier, vol. 31(3), pages 223-237.
    4. Theofanis Tsoulouhas & Tomislav Vukina, 2001. "Regulating Broiler Contracts: Tournaments Versus Fixed Performance Standards," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 83(4), pages 1062-1073.
    5. Konrad, Kai A., 2007. "Strategy in contests: an introduction
      [Strategie in Turnieren – eine Einführung]
      ," Discussion Papers, Research Unit: Market Processes and Governance SP II 2007-01, Social Science Research Center Berlin (WZB).
    6. repec:oup:revage:v:25:y:2003:i:1:p:66-88. is not listed on IDEAS
    7. Kosmas Marinakis & Theofanis Tsoulouhas, 2012. "A comparison of cardinal tournaments and piece rate contracts with liquidity constrained agents," Journal of Economics, Springer, vol. 105(2), pages 161-190, March.
    8. Charles R. Knoeber, 2000. "Les contrats de production dans l'agriculture américaine. Une caractérisation de la recherche empirique actuelle," Économie rurale, Programme National Persée, vol. 259(1), pages 3-15.

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