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<b>Relevant papers</b>:
* [http://www.jstor.org/stable/pdfplus/3003457.pdf?acceptTC=true Holmstrom (1982), Moral Hazard in Teams]. Not on exam's reading list. * [http://www.edegan.com/wiki/index.php/Holmstrom_%281999%29_-_The_Firm_As_A_Subeconomy Holmstrom (1999), Firm as Subeconomy], not Not on exam's reading list.
<b>Question 1</b>
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