Essays on the theory of incentives : procurement, franchise & innovation contracts
This thesis explores models of procurement, franchising and innovation through the lens of the theory of incentives. Chapter 2 examines the influence of type-dependent reservation utility on the optimality of linear contracts in a Principal-Agent model of procurement. Type-dependency of reservation utility, combined with the requirements of individual rationality and incentive compatibility in the principal's contracts induces a countervailing incentive effect, the strength of which depends on...[Show more]
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