the most suffered the biggest loss in confidence in institutions, particularly in trust in government and the financial …We document that trust in public institutions--and particularly trust in banks, business and government--has declined … over recent years. U.S. time series evidence suggests that this partly reflects the pro-cyclical nature of trust in …

elicit people’s trust correlate well with behaviourally exhibited trust in the experiment. People above the age of 65, highly … the power of our approach with the analysis of trust and trustworthiness in Germany by combining representative survey … data with representative behavioural data from a social dilemma experiment. We identify which survey questions intended to …

This paper identifies a class of multiperiod agency problems in which the optimal contract is tractable (attainable in … closed form). By modeling the noise before the action in each period, we force the contract to provide sufficient incentives … utility, a pecuniary cost of effort, Gaussian noise or continuous time. The contract's functional form is independent of the …

may not be felt until far in the future. We derive the optimal contract in a setting where the CEO can affect firm value … through both productive effort and costly manipulation, and may undo the contract by privately saving. The optimal contract …

The paper sees countertrade - the tying of trade flows - as an insurance contract that mitigates contractual hazards … investment. This way tying is seen as a commitment device against renegotiation during contract execution when investments are …

proportional elections. A tax contract specifies a range of tax rates a party is committed to if in government. We develop a new …