Concepedia

Second-best Contracts

Second-Best Contracts is a theoretical framework in contract economics that, within the context of hidden action and informational asymmetry, specifies optimal contractual arrangements that maximize principal utility under incentive compatibility and participation constraints, departing from first-best efficiency due to unobservable agent behavior.

105

Publications

19.1K

Citations

167

Authors

108

Institutions

Publications per year

2017–2026

12

Parents

Publications

105

The Costs and Benefits of Ownership: A Theory of Vertical and Lateral Integration

Sanford J. Grossman, Oliver Hart · Journal of Political Economy · 1986 · 9.5K citations · Full text

, , +16

Efficient mechanisms for bilateral trading

Roger B. Myerson, Mark A. Satterthwaite · Journal of Economic Theory · 1983 · 2.6K citations

, , +13

Subjective Performance Measures in Optimal Incentive Contracts

George P. Baker, Robert Gibbons, Kevin J. Murphy · The Quarterly Journal of Economics · 1994 · 990 citations

, , +17

Asymmetric information and contract design for payments for environmental services

Paul J. Ferraro · Ecological Economics · 2007 · 578 citations · Full text

, , +16

Performance Contracting in After-Sales Service Supply Chains

Sang-Hyun Kim, Morris A. Cohen, Serguei Netessine · Management Science · 2007 · 538 citations

, , +17

1–5 of 105

Authors

167

  1. OH
    Oliver Hart

    Harvard University, United States

    4 publications · 9.9K citations

    4

    h-index

  2. AF
    Antoine Faure‐Grimaud

    London School of Economics and Political Science, United Kingdom

    2 publications · 93 citations

    2

    h-index

  3. SJ
    Sanford J. Grossman

    University of Pennsylvania, United States

    2 publications · 9.5K citations

    2

    h-index

  4. BB
    Björn Bartling

    University of Zurich, Switzerland

    2 publications · 132 citations

    2

    h-index

  5. JM
    John Moore

    London School of Economics and Political Science, United Kingdom

    2 publications · 85 citations

    2

    h-index

1–5 of 167

Institutions

108

  1. London School of Economics and Political Science

    London, United Kingdom

    7 h-index

    7 publications

    700 citations

  2. Harvard University

    Cambridge, United States

    3 h-index

    3 publications

    51 citations

  3. University of Pennsylvania

    Philadelphia, United States

    3 h-index

    6 publications

    1.8K citations

  4. University of Zurich

    Zurich, Switzerland

    3 h-index

    3 publications

    155 citations

  5. University of Michigan

    Ann Arbor, United States

    3 h-index

    3 publications

    61 citations

  6. University of Mannheim

    Mannheim, Germany

    3 h-index

    3 publications

    84 citations

  7. Northwestern University

    Evanston, United States

    3 h-index

    4 publications

    5.2K citations

  8. Yale University

    New Haven, United States

    3 h-index

    3 publications

    327 citations

1–8 of 108

Venues

  1. The Review of Economic Studies

    8 publications · 609 citations

    8

    h-index

  2. SSRN Electronic Journal

    Repository · 6 publications · 156 citations

    6

    h-index

  3. The RAND Journal of Economics

    4 publications · 533 citations

    4

    h-index

  4. International Economic Review

    4 publications · 228 citations

    4

    h-index

  5. Journal of Economic Theory

    JET · 3 publications · 2.6K citations

    3

    h-index

1–5