his employer. This paper uses a principal-agent model to study optimal incentive contracts for envious workers under …A worker’s utility may increase in his own income, but envy can make his utility decline with his employer’s income …, increases optimal incentive pay. Moreover, envy can make profitsharing optimal, even when the worker’s effort is fully …

, implemented at the end of a three-year cycle in which contracts are generally revised, was (a) the joint outcome of negotiations … for plantation workers statewide, and (c) applicable equally to all the plantations in the local region. The contract …

contracts and organisation. This trend has been driven by the fact that rising costs over many years have put profitability …

within and across contracts. The elasticity of indexation is modelled as a latent variable, supporting consideration of both … variables and the sequence of contracts signed by a bargaining pair are needed. …

During the last two decades economists have made much progress in understanding incentives, contracts and organisations …

enforcement behavior in a market with incomplete contracts and repeated interactions. Dismissal barriers are shown to have a …

We develop and estimate a model of dynamic interactions in which commitment is limited and contracts are incomplete to … each other through both formal contracts and informal agreements, that is, self-enforcing agreements specifying voluntary … to self-enforcement bind with positive probability and formal contracts are used to reduce this probability. …