Formal versus Informal Monitoring in Teams
研究了委托人在团队环境中如何选择最优监控策略，发现技术互补时同伴监控可替代委托人监控，技术替代时委托人监控不受同伴监控影响。
In this paper we analyze a principal's optimal monitoring strategies in a team environment. In doing so we study the interaction between formal monitoring and informal (peer) monitoring. We show that if the technology satisfies complementarity, peer monitoring substitutes for the principal's monitoring. However, if the technology satisfies substitution, the principal's optimal monitoring is independent of the peer monitoring. We also show that if the technology satisfies complementarity, then the principal in the optimal contracts will monitor more closely than in the case of substitution.