Push or pull? Performance‐pay, incentives, and information
研究代理人更了解项目前景时，如何设计同时包含可观察和不可观察投入的合同，并比较高低强度激励方案的权衡，对研发中的推拉政策有启示。
Abstract We study a principal‐agent model wherein the agent is better informed of the prospects of the project, and the project requires both an observable and unobservable input. We characterize the optimal contracts, and explore the trade‐offs between high‐ and low‐powered incentive schemes. We discuss the implications for push and pull programs used to encourage Research and Development (R&D) activity, but our results are relevant in other contexts.