Abstract
This paper studies the impact of strategic monitoring on reputation building, focusing in particular on models of the principal-agent type. The main result is that the principal always will monitor risk-neutral agents more closely early in the game, while such agents may or may not work harder as the game progresses, depending on their initial reputation. If agents are sufficiently risk-averse, they will always work harder early in the game, whereas the principal may or may not monitor such agents more closely as the game progresses.
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