Payoff implications of incentive contracting

Incentive Stackelberg Mean-Payoff Games

We introduce and study incentive equilibria for multi-player meanpayoff games. Incentive equilibria generalise well-studied solution concepts such as Nash equilibria and leader equilibria (also known as Stackelberg equilibria). Recall that a strategy profile is a Nash equilibrium if no player can improve his payoff by changing his strategy unilaterally. In the setting of incentive and leader eq...

An Overview of Incentive Contracting

Agents me.y contract some of their tasks to other agents even when they do not share a common goal. An agent may try to contract some of the tasks that it cannot perform by itself, or that may be performed more efficiently by other agents. One self-motivated agent may convince another self-motivated agent to help it with its task, by promises of rewards, even if the agents are not assumed to be...

Incentive Compatible Payoff Mechanisms for General Risk Theories

INCENTIVE COMPATIBLE PAYOFF MECHANISMS FOR GENERAL RISK THEORIES BY YI (LILY) LI AUGUST 2016 Committee Chair: Dr. James C. Cox Major Department: Economics This dissertation focuses on one methodological problem in experimental economics: how to pay subjects, or in other words, payoff mechanism issue. For example, one popular payoff mechanism is Random Lottery Incentive System (RLIS), that is, a...

Incentive and Award-Fee Contracting: Lessons Learned and Best Practices

An Analysis of the Use of Incentive/disincentive Contracting Provisions for Early Project Completion