Reputation With Opportunities for Coasting
研究了当结果并非总能被观察到时,声誉激励如何促使代理人更努力,并发现偶尔的观察反而能比持续观察带来更高的总体努力水平。
Abstract Reputation concerns can discipline agents and generate good outcomes. But what if outcomes are not always observed? Infrequent observation can strengthen reputation incentives and encourage effort. By exerting effort when outcomes are more likely observed, an agent can improve her reputation and gain by “coasting” on this reputation by shirking when the audience is less likely to be observing her actions. Opportunities to coast can in fact lead to greater overall effort than constant observation. We consider Markov information structures and characterize the observability structure that maximizes efficient effort.