19 Contracts and Moral Hazards

The contracts of at least 33 major league baseball players have incentive clauses providing a bonus if that player is named the Most Valuable Player in a Division Series. Unfortunately, no such award is given for a Division Series.1

Get Microeconomics: Theory and Applications with Calculus, 4e now with O’Reilly online learning.

O’Reilly members experience live online training, plus books, videos, and digital content from 200+ publishers.