Showing 1 - 10 of 77
Governments often contract with private firms to provide public services such as health care and education. To decrease …
Persistent link: https://www.econbiz.de/10012461681
Persistent link: https://www.econbiz.de/10000806195
Persistent link: https://www.econbiz.de/10000772762
Persistent link: https://www.econbiz.de/10000813199
Persistent link: https://www.econbiz.de/10002256884
Persistent link: https://www.econbiz.de/10000913094
How far do the contractual implications of hold-up-based theories (Klein, Crawford, and Alchian (1978), Williamson (1979, 1985)) extend? I investigate this in the context of trucking. Quasi-rents in trucking are generally smaller than in the contexts studied in the previous empirical literature....
Persistent link: https://www.econbiz.de/10012471437
-term contracts. We argue that only if the parties to a unitization contract have unit production shares that are the same as their … cost shares will the contract be incentive compatible. Using a data base of sixty unit operating agreements, we measure the … desirable contract rules for avoiding moral hazard. It also shows how the effects of those rules can be replicated in difficult …
Persistent link: https://www.econbiz.de/10012471652
Persistent link: https://www.econbiz.de/10012477157
Tournaments, reward structures based on rank order, are compared with individual contracts in a model with one risk-neutral principal and many risk-averse agents. Each agents' output is a stochastic function of his effort level plus an additive shock term that is common to all the agents. The...
Persistent link: https://www.econbiz.de/10012478271