The DOI matches its Crossref record; 21 of the 21 references it cites were found in a registry or an index.
Performance Comparisons and Dynamic Incentives
Abstract
It is well known that comparative performance information (CPI) can enhance efficiency in static principal‐agent relationships by improving the trade‐off between insurance and incentives in the design of explicit contracts. In dynamic settings, however, there may be implicit as well as explicit incentives, for example, managerial career concerns and the ratchet effect in regulation. We show that the dynamic effects of CPI on implicit incentives can either reinforce or oppose the familiar (static) insurance effect and in either case can be more important for efficiency. The overall welfare effects of CPI are thus ambiguous and can be characterized in terms of the underlying information structure.
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Cites
Agency Problems and the Theory of the Firm
Fama, E. F. (1980) · Journal of Political Economy · doi:10.1086/260866 · Cited by 10,466
Economics, Organization and Management.
Bhattacharya, S., Milgrom, P., & Roberts, J. (1993) · The Journal of Finance · doi:10.2307/2328903 · Cited by 4,644
Hannan, E. J. (1973) · Technometrics · doi:10.1080/00401706.1973.10489024 · Cited by 3,210
Rank-Order Tournaments as Optimum Labor Contracts
Lazear, E., & Rosen, S. (1979) · National Bureau of Economic Research · doi:10.3386/w0401 · Cited by 3,033
Aggregation and Linearity in the Provision of Intertemporal Incentives
Holmstrom, B., & Milgrom, P. (1987) · Econometrica · doi:10.2307/1913238 · Cited by 2,859
A Theory of Yardstick Competition
Shleifer, A. (1985) · The RAND Journal of Economics · doi:10.2307/2555560 · Cited by 1,413
Incumbent Behavior: Vote Seeking, Tax Setting and Yardstick Competition
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Prizes and Incentives in Elimination Tournaments
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A Comparison of Tournaments and Contracts
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Prices and Incentives: Towards a General Theory of Compensation and Competition
Stiglitz, J. E., & Nalebuff, B. (1983) · The Bell Journal of Economics and Management Science · doi:10.7916/d87h1v6s · Cited by 975
Cited by
The Provision of Incentives in Firms
Prendergast, C. (1999) · Journal of Economic Literature · doi:10.1257/jel.37.1.7 · Cited by 3,338
Managerial Incentive Problems: A Dynamic Perspective
Holmstrom, B. (1999) · Review of Economic Studies · doi:10.1111/1467-937x.00083 · Cited by 3,172
INNOVATION AND COMPETITIVE PRESSURE*
VIVES, X. (2008) · The Journal of Industrial Economics · doi:10.1111/j.1467-6451.2008.00356.x · Cited by 674
The sources of economic growth in OECD countries
Lightfoot, W. (2004) · Economic Affairs · doi:10.1111/j.1468-0270.2004.0464a.x · Cited by 271
Metadata
- Authors
- Meyer, M. A., & Vickers, J.
- Venue
- Journal of Political Economy
- Publisher
- University of Chicago Press
- Published
- 1997-06
- Volume
- 105
- Issue
- 3
- Pages
- 547-581
- ISSN
- 0022-3808 (ISSN-L)
- 1537-534X
- OpenAlex
- W2016793697
- Cited by
- 340
- References
- 21
- FWCI
- 11.56
- Type
- journal article
- Language
- en
- Open access
- closed
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