It is widely believed that rent-sharing reduces the incentives for investment when long term contracts are infeasible … find little evidence that bargaining lowers the return on investment. Instead, firm-level bargaining appears to split the …

have to compete for jobs. Our aim is to investigate how this competition affects the investment decisions of firms. Our …

consider a hold-up framework where both parties profit from an investment that raises the value of an asset. Delegation turns …) decisions have no investment-independent effect. If overinvestment might be an issue, delegation, however, with restricted …

and Moore still hold. It is shown that investment incentives are guided by an additional element to standard hold … overinvestment. Although investment incentives are always positive from a social perspective, they can be negative from an individual … asymmetric information. We consider the consequences of asymmetric information for investment decisions and for the assignment of …

We develop a product market theory that identifies determinants of worker turnover and explains why firms invest in …

We consider a three-stage game to examine how market integration affects firms’ incentives to provide general worker …

the provision of incentives. Unlike previous papers, we use a direct measure of seniority-based pay as well as measures of … incentives. They are also less likely to invest in monitoring devices. We also find that firms that offer seniority-based pay are …

behavior depends critically on the way in which performance incentives are structured. In particular, relative compensation …