タイトル：Salvage in Optimal Incentive Contracts
This paper is concerned with multi-agent moral hazard problems. Each agent has an opportunity to salvage co-workers when his project succeeds: the agent decides to salvage his co-worker when the co-worker’s success is sufficiently beneficail for him. The principal offers a wage contract taking account of the participation constraints, the incentive constraints, and the salvage constraints. We characterize the optimal incentive contracts.