Performance Aggregation and Decentralized Contracting * Gerald A. Feltham University of British Columbia Sauder School of Business gfeltham@shaw.ca Christian Hofmann LMU Munich Munich School of Management hofmann@bwl.lmu.de Raffi J. Indjejikian University of Michigan Ross School of Business raffii@umich.edu Current version: August 2014 * We are grateful to Francois Larmande, Florin Sabac, and participants at the 2014 Workshop on Accounting and Economics for for many helpful suggestions.