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In this paper we explain the prevalence of explicit contracts of employment, particularly those that embody high- rather than low-powered incentives and clauses that supersede the common law defaults. Our analysis is based on an understanding of two fundamental problems that arise when agency...
Persistent link: https://www.econbiz.de/10005076642
We examine how social preferences affect behavior and surplus in relational contracts. Experimental subjects participate in a contracting environment similar to Brown, Falk, and Fehr [Brown, M., Falk, A. & Fehr, E., “Relational Contracts and the Nature of Market Interactions, Econometrica, 72...
Persistent link: https://www.econbiz.de/10005561830
The Indian agricultural sector is leveraging the Information and Communication Technologies (ICT) to disseminate the … right information at the right time. The cost factor in face-to-face information dissemination and the difficulties in …
Persistent link: https://www.econbiz.de/10005124931
Some recent empirical works indicate that investor performance and market patterns are primarily information driven … instead of a behavioral phenomenon. However, Grossman and Stiglitz information theory and its variations offer little guidance … in identifying informed investors and in distinguishing between securities with scarce information and those with widely …
Persistent link: https://www.econbiz.de/10005134939
. On one hand, the pooling of information within bidding rings increases the precision of competing estimates. We … information is distributed. The experimental results are consistent with our theoretical predictions for different value and …
Persistent link: https://www.econbiz.de/10005407619
investigate this question in case that the individual probability functions are based on different information sets. Under … any overlaps between different persons' information sets. The solutions are derived from an axiomatic system that models … parameter-free, and that they incorporate each individual's information although the individuals need not communicate their …
Persistent link: https://www.econbiz.de/10005412461
information which also bear a high degree of privacy. Whereas the literature suggests relational contracts as a way how … qualitative and private information can be credibly conveyed to the lender, it is shown that even in the German housebank … banks, too, respond to information gaps with unfavourable loan conditions. As an alternative specialized information …
Persistent link: https://www.econbiz.de/10005413034
to coordinate when they are given little in-formation, i.e. when subjects are uninformed about the payoff matrix and feed … information prior to playing the game changes subject behaviour and significantly improves performance, even though standard … adaptive learning rules do not take such information into account and optimal adaptive rules do not differ much between the two …
Persistent link: https://www.econbiz.de/10005550889
degrees. When the decision maker consults only a single expert, the expert withholds substantial information from the decision …
Persistent link: https://www.econbiz.de/10005550962
-BASED ECONOMIC STRUCTURES AND INFORMATION SOCIETIES THAT COMPRISE NETWORKS OF INDIVIDUALS, FIRMS AND COUNTRIES THAT ARE LINKED …
Persistent link: https://www.econbiz.de/10005556113