The economics of wild goose chases
实证发现授权给员工时激励薪酬更常见，本文建立模型解释为何上级掌权时激励薪酬更低且效果更差，甚至可能减少努力。
Empirical evidence consistently finds that incentive pay is more frequent when authority is delegated to workers than when their superiors hold authority. We provide a model where incentive pay results in the abuse of authority by their superiors, and (under reasonable conditions) implies that (i) incentive pay is higher when an agent holds control rights than when her principal has authority, (ii) effort is less responsive on the margin to incentive pay when the principal holds authority, and (iii) more incentive pay can reduce effort under authority, even on tasks that can be easily measured.