SSRN-Motivating Innovation by Gustavo Manso

I was actually looking for another paper by Manso on step up bonds when I found this one. It is pretty cool and very intuitive (you can't punish failures if you want people to take chances). SSRN-Motivating Innovation by Gustavo Manso: "...incentive schemes that motivate exploration are fundamentally different from standard pay-for-performance incentive schemes used to induce effort. The optimal