Play Online Game #7, Incentives Game - Edubirdie

University:
Massachusetts Institute of Technology
Course:
15.992 | S-Lab: Laboratory for Sustainable Business
Academic year:

2023
Views:

58

Pages:

1
Author:

didactig075

Summary of Online Game 7 Game 7: A mechanism design (principal agent) problem In this timed game, you are the owner of a large pharmaceutical company looking to subcontract out a number of research projects, each with uncertain outcome, to outside R&D facilities. Each research facility, once hired, can choose either to put in routine effort (assign a normal staff to the project) or high effort (assigning its best researchers). Its choice will affect how likely the project is to succeed and earn a profit. You cannot monitor a facility's effort directly; all that you know is whether or not its project succeeds. You must offer all research facilities the same offer consisting of a base salary and bonus if the project is a success. What salary and bonus do you wish to offer?

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