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How does Risk Selection Respond to Risk Adjustment? Evidence from the Medicare Advantage Program
Brown, Jason - 2011
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
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The Policy Elasticity
Hendren, Nathaniel - 2013
This paper illustrates how one can use causal effects of a policy change to measure its welfare impact without decomposing them into income and substitution effects. Often, a single causal effect suffices: the impact on government revenue. Because these responses vary with the policy in...
Persistent link: https://www.econbiz.de/10012459485
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The Private Provision of Public Services : Evidence from Random Assignment in Medicaid
Agafiev Macambira, Danil; Geruso, Michael; Lollo, Anthony; … - National Bureau of Economic Research - 2022
Nearly all prior work on government outsourcing has focused on the contracting firm's incentives. This paper shows how strong incentive contracts may be insufficient to generate spending reductions (or other desired outcomes) in the presence of a binding technological or managerial constraint....
Persistent link: https://www.econbiz.de/10013362044
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How Wide is the Scope of Hold-Up-Based Theories? Contractual Form and Market Thickness in Trucking
Hubbard, Thomas N. - 1999
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
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The Self-Enforcing Provisions of Oil and Gas Unit Operating Agreements : Theory and Evidence
Libecap, Gary D. - 1999
-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
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Incentive Contracts
Lazear, Edward P. - 1986
Persistent link: https://www.econbiz.de/10012477157
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A Comparison of Tournaments and Contracts
Green, Jerry R. - 1982
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
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Bilateral Contracts
Green, Jerry R. - 1981
efficiency is not attainable. We show that contracts involving mutual control might sometimes be superior to the best contract …
Persistent link: https://www.econbiz.de/10012478394
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Risk Sharing through Breach of Contract Remedies
Polinsky, A. Mitchell - 1981
This paper examines the sharing of risk under three different remedies for breach of contract. The risk considered …. By means of a numerical example, it is shown that use of the prevailing remedy for breach of contract -- the expectation …
Persistent link: https://www.econbiz.de/10012478401
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Wage-Employment Contracts (Replaced by W0675)
Green, Jerry R. - 1981
This paper studies the efficient agreements about the dependence of workers' earnings on employment, when the employment level is controlled by firms. Under plausible assumptions, such agreements will cause employment to diverge from efficiency as a byproduct of their attempt to mitigate risk....
Persistent link: https://www.econbiz.de/10012478500