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Optimal Contracts for Teams

International Economic Review, 1991
In a team subject to both adverse selection (each member's ability is known only to himself) and moral hazard (effort cannot be observed), optimal contracts are, under certain conditions, linear in the team's output. The outcome is the same whether the principal observes just the total output or each individual's contribution.
McAfee, R Preston, McMillan, John
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Super-optimization of Smart Contracts

ACM Transactions on Software Engineering and Methodology, 2022
Smart contracts are programs deployed on a blockchain. They are executed for a monetary fee paid in gas —a clear optimization target for smart contract compilers. Because smart contracts are a young, fast-moving field without (manually) fine-tuned compilers, they highly benefit from automated and adaptable ...
Elvira Albert   +4 more
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Optimal Sequencing of Contract Algorithms

Annals of Mathematics and Artificial Intelligence, 2003
We address the problem of building an interruptible real-time system using non-interruptible components. Some artificial intelligence techniques offer a tradeoff between computation time and quality of results, but their run-time must be determined when they are activated.
Shlomo Zilberstein   +2 more
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Optimal Subjective Contracting with Revision

Management Science, 2022
We study the optimal contracting problem with subjective evaluation when the principal can ask the agent to revise his work. The possibility of revision benefits the principal by providing the option value of making another attempt at the work. However, it also introduces a new type of incentive problem for the principal: she may ask for revision even
Xinhao He, Jin Li, Zhaoneng Yuan
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