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Using Reputation Costs in Non-Repeated Incentive Contracts

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  • Sherstyuk, K

Abstract

In principal-agent models with moral hazard and limited liability, the principal may threaten the agent with reputaion damages in case of poor performance. We show that such reputation threats, although inefficient, often help the principal to discipline the agent.

Suggested Citation

  • Sherstyuk, K, 1997. "Using Reputation Costs in Non-Repeated Incentive Contracts," Department of Economics - Working Papers Series 563, The University of Melbourne.
    • Handle: RePEc:mlb:wpaper:563
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    More about this item

    Keywords

    INFORMATION; INFORMATION USERS;

    JEL classification:

    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design

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