Some results on incentive contracts with applications to education and employment, health insurance, and law enforcement.

Theory of the firm: Managerial behavior, agency costs and ownership structure

Michael C. Jensen, William H. Meckling · Journal of Financial Economics · 1976 · 70.7K citations

Management, Business Economics, Corporate Governance +16

The Economic Theory of Agency: The Principal's Problem.

Stephen A. Ross · American Economic Review · 1973 · 4.1K citations

Business, Business Economics, Economics +14

Essays in the Theory of Risk-Bearing.

Nils H. Hakansson, Kenneth J. Arrow · The Journal of Finance · 1972 · 4.1K citations

Business, Economics, Finance +10

Law Enforcement, Malfeasance, and Compensation of Enforcers

Gary S. Becker, George J. Stigler · The Journal of Legal Studies · 1974 · 1.9K citations

Law, Criminology, Administrative Discretion +10

Optimal incentive contracts with imperfect information

Milton Harris, Artur Raviv · Journal of Economic Theory · 1979 · 959 citations

Business, Contract Law, Economics +14