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What is Multi-Period Contracts: Verifiable vs Unverifiable Outputs about?

This document presents a theoretical model of multi-period employment contracts that combine short, mid, and long-term contracts. The model considers situations where employers seek to maximize both verifiable outputs (like sales figures) and unverifiable outputs (like leadership skills) from employees. It finds that the optimal combination of contract lengths depends on the relative importance of verifiable vs unverifiable outputs and the relative efficiency of investments in human capital for each type of

Author

HHHVEER

Language

EN