Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/93878
Authors: 
Kräkel, Matthias
Year of Publication: 
2007
Series/Report no.: 
SFB/TR 15 Discussion Paper 201
Abstract: 
Several empirical findings have challenged the traditional trade-off between risk and incentives. By combining risk aversion and limited liability in a standard principal-agent model the empirical puzzle on the positive relationship between risk and incentives can be explained.
Subjects: 
limited liability
piece rates
risk aversion
risk-incentives trade-off
JEL: 
D01
D82
J3
M5
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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