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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

Institutional Drift, Property Rights, and Economic Development : Evidence from Historical Treaties

Feir, Donna; Gillezeau, Rob; Jones, Maggie - National Bureau of Economic Research - 2023

For nearly three centuries, Indigenous peoples within the borders of present-day Canada engaged in treaty-making with the British Crown and other European powers. These treaties regularly formed the colonial legal basis for access to Indigenous lands. However, treaties were not negotiated...

Persistent link: https://www.econbiz.de/10014372470

Courts and Relational Contracts

Johnson, Simon - 2001

Post-communist countries offer new evidence on the relative importance of courts and relationships in enforcing contracts. Belief in the effectiveness of courts has a significant positive effect on the level of trust shown in new relationships between firms and their customers. Well-functioning...

Persistent link: https://www.econbiz.de/10012470146

Incentives in HMOs

Gaynor, Martin - 2001

's incentive contract provides a typical physician an increase, at the margin, of $0.10 in income for each $1.00 reduction in …

Persistent link: https://www.econbiz.de/10012470196

Financial Contracting

Hart, Oliver - 2001

This paper discusses how economists' views of firms' financial structure decisions have evolved from treating firms' profitability as given; to acknowledging that managerial actions affect profitability; to recognizing that firm value depends on the allocation of decision or control rights. The...

Persistent link: https://www.econbiz.de/10012470439

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

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

Contract Renegotiation in Agency Problems

Edlin, Aaron S. - 1997

procedures. A noisy signal, however, means that the optimal contract will involve terms that courts might view as punitive and so …

Persistent link: https://www.econbiz.de/10012472728

The Demise of Double Liability as an Optimal Contract for Large-Bank Stockholders

Wilson, Berry K. - 1996

This paper tests the optimal-contracting hypothesis, drawing upon data from a natural experiment that ended during the Great Depression. The subjects of our experiment are bank stockholders. The experimental manipulation concerns the imposition of state or federal restrictions on the contracts...

Persistent link: https://www.econbiz.de/10012472980

Holdups, Standard Breach Remedies, and Optimal Investment

Edlin, Aaron S. - 1995

We consider a bilateral trading problem in which one or both parties makes relationship-specific investments before trade. Without adequate contractual protection, the prospect of later holdups discourages investment. We postulate that the parties can sign noncontingent contracts prior to...

Persistent link: https://www.econbiz.de/10012473886