Construct · 1 fields · 1 citations

multitask principal-agent model: a standalone construct

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Labor economics

an agency model in which strong incentives on measurable tasks pull effort away from hard-to-measure tasks, favoring muted incentives.

In labor economics, multitask principal-agent model refers to an agency model in which strong incentives on measurable tasks pull effort away from hard-to-measure tasks, favoring muted incentives. This meaning comes from Holmstrom (1991) in The Journal of Law, Economics, and Organization.[1]

Unit
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Nearby constructs

agency6 fields · 12 citationsjingle · one name, six constructs effort2 fields · 2 citationsjingle · one word, two constructs labor4 fields · 4 citationsjingle · one word, four constructs

References

Holmstrom, B., & Milgrom, P. (1991). Multitask Principal–Agent Analyses: Incentive Contracts, Asset Ownership, and Job Design. The Journal of Law, Economics, and Organization, 7(special_issue), 24-52. https://doi.org/10.1093/jleo/7.special_issue.24

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