Contract Choice: Efficiency and Fairness in Revenue‐Sharing Contracts
通过一个简单的委托-代理人实验，发现大多数被试选择收益分享合同，该合同既高效又公平，收入分配仅轻微偏向委托人。
Abstract We present a simple principal–agent experiment in which the principals are allowed to choose between a revenue‐sharing, a bonus, and a trust contract, to offer to an agent. Our findings suggest that a large majority of experimental subjects choose the revenue‐sharing contract. This choice turns out to be not only the most efficient but also, at the same time, fair. Overall, the distribution of earnings is only mildly skewed towards the principal. We conclude that, under revenue‐sharing contracts, concerns for fairness can be closely associated with the use of monetary incentives.