Information Revelation in Relational Contracts
研究了长期雇佣关系中主观绩效评估的作用，发现将评估与支付分离有助于企业通过跨期奖励降低违约诱惑，并解释了绩效评估中的常见偏差。
We explore subjective performance reviews in long-term employment relationships. We show that firms benefit from separating the task of evaluating the worker from the task of paying him. The separation allows the reviewer to better manage the review process, and can, therefore, reward the worker for his good performance with not only a good review contemporaneously, but also a promise of better review in the future. Such reviews spread the reward for the worker’s good performance across time and lower the firm’s maximal temptation to renege on the reward. The manner in which information is managed exhibits patterns consistent with a number of well-documented biases in performance reviews.