Lumpsum Compensation

Working Papers 77 Murray C. Kemp, Henry Y. Wan Jr.

It has become a cliché that schemes of lumpsum compensation are of negligible practical significance, either because their implementation requires information which is excessively costly, perhaps unobtainable, or because they are incentive incompatible. In the present paper we offer a proposition which may do something to soften the verdict.

  • ISSN: 0357-9603
  • ISBN: 951-9281-96-7
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