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Lecture
Financial Incentives
Games
Played in Class
Market for
MBA Graduates with Product Valuation
Market
for MBA Graduates with Additive Valuation
Moral Hazard
Work Effort Not Observed
Product Development
Incomplete Information
Product Development
Full Information
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Reading
1.
Gayle, George-Levi and Robert A. Miller "Has moral hazard become a
more important factor in managerial compensation?", The American Economic Review, Vol. 99,
No. 5, pp. 1740-1769. December 2009.
2.
“Talking
about research on Executive Compensation”, Robert Miller, Tepper School of Business, Carnegie Mellon University,
2010.
3.
Deal-Making
CEOs: Maybe Not As Bullish As They Seem (WSJ blog, 12/04/13)
4.
Microsoft
Sets New CEO's Pay at $1.2 Million (WSJ, 02/04/14)
5.
The
Board’s Role in Managing Risk and Corporate Governance (WSJ, 12/30/13)
6.
Why
Amazon pays employees $5,000 to quit (CBS News, 04/11/14)
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