opportunistically. We find that most principals in our experiment do not restrict the agent's choice set but trust that the agent will … perform well voluntarily. Principals who trust induce, on average, a higher performance and hence earn higher payoffs than … incentives as well as the puzzling incompleteness of many economic contracts. …

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 …

, the paper shows how the ordering of tasks may affect the incentives to exert and allocate effort. …

misaligned incentives to investors resulting from the manager's policy are economically significant. We then demonstrate how a … simple risk management practice that accounts for benchmarking can ameliorate the adverse effects of managerial incentives. …

risk. Costs of misaligned incentives to investors resulting from the manager's policy are demonstrated to be economically …

An important lesson from the incentive literature is that explicit incentives may elicit dysfunctional and unintended …

This Paper studies the provision of incentives in a large US training organization, which is divided into about 50 …

with a low level of trust in government institutions and recognition of high and rising levels of corruption. The findings …

choose with whom within their group they want to play a trust game. Participants observe of each other age, gender …. Participants tend to trust those they trusted before and who trusted them. We do not find evidence of regional discrimination per …