Dynamic Incentive Accounts

Alex Edmans, Xavier Gabaix, Tomasz Sadzik, Yuliy Sannikov

NBER Working Paper No. 15324
Issued in September 2009

---- Acknowledgements -----

For helpful comments, we thank Ken Feinberg (US Treasury), Gilles Chemla, Ingolf Dittmann, Zhiguo He and Eric Talley, and seminar participants at the Harvard Law School / Sloan Foundation Confer- ence on Corporate Governance, the LSE FMG Conference on Managers, Incentives and Organizational Structure, the NBER, Chicago, NYU and Wharton. Qi Liu and Andrei Savotchkine provided excellent research assistance. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.

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