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Task assignment under agent loss aversion
2013
Economics Letters
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h i g h l i g h t s • A principal assigns a task to one of two agents depending on future states. • If the agents have concave utility, a state-dependent task assignment is optimal. • If the agents are loss averse, a state-independent assignment can be optimal. • In addition, the optimal contract may specify the same effort levels in all states.
doi:10.1016/j.econlet.2013.06.040
fatcat:huu4dhvabnfrlpftzuwcrbpqei