This note studies a moral hazard model of joint production in which there are strong gains to coordination. The mechanism we propose for resolving the tacit collusion problem that arises in our setting makes use of at-will contracts which provide the agents with the option to quit at any time.
Arya, A., Jonathan Glover, and J. Hughes. "Implementing Coordinated Team Play." Journal of Economic Theory 74, no. 1 (May 1997): 218-232.
Each author name for a Columbia Business School faculty member is linked to a faculty research page, which lists additional publications by that faculty member.
Each topic is linked to an index of publications on that topic.