Pay to Quit and Team Incentives
研究了团队中重复道德风险下的最优薪酬、工作设计和离职补偿政策，发现慷慨的离职补偿有助于实施团队激励和团队生产，使同事监督和制裁更具成本效益。
Abstract This paper examines the optimal compensation scheme, job design, and severance policy for a team using a model of repeated moral hazard. In the optimal contract, the agent may be paid to quit after a poor performance. We show that a generous severance policy facilitates the adoption of team incentives and team-based production by making it cost-effective to implement peer monitoring and sanction among the agents.