Incentives in Principal-Agent Relationships
梳理了激励文献中的核心议题，包括激励问题的摩擦根源、委托人在非重复博弈中的最优应对、个性化合同与竞赛的设计，以及代理人选择和重复代理关系。
This article identifies some of the major issues that have been examined in the literature on incentives. The article begins by discussing the frictions that lie at the heart of incentive problems. Next, the principal's optimal response to these frictions is explored, taking as given the characteristics of the agents with whom the principal interacts in a nonrepeated setting. The design of individualized contracts, contests, and tournaments is analyzed. Then, the principal's task of selecting the best agent is addressed, and repeated agency relationships are considered.