Monthly Archives: March 2014

Weitzman, M. L. (1980). The “ratchet principle” and performance incentives. The Bell Journal of Economics, 302-308.

This paper is one of the auxiliary materials for Studies on Economic Transition and Economic Systems, but how interesting it is to find that this, one of the very first papers to address the dynamic incentive problems of an organization, actually stems from studies of the Soviet Union and Central/Eastern Europe. I thought that since many […]