search query: @indexterm dynamic models / total: 269
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| Author: | Holmstrom, B. |
| Title: | Managerial incentive problems: a dynamic perspective |
| Journal: | Review of Economic Studies
1999 : JAN, VOL. 66:1(226), p. 169-182 |
| Index terms: | ECONOMICS INCENTIVES DYNAMIC MODELS |
| Language: | eng |
| Abstract: | This paper studies how a person's concern for a future career may influence his or her incentives to put in effort or make decision on the job. In the model, the person's productive abilities are revealed over time through observations of performance. There are no explicit output-contingent contracts, but since the wage in each period is based on expected output and expected output depends on assessed ability, an "implicit contract" links today's performance to future wages. |
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