Showing 1 - 10 of 12
We provide evidence that long-term relationships between trading parties emerge endogenously in the absence of third party enforcement of contracts and are associated with a fundamental change in the nature of market interactions. Without third party enforcement, the vast majority of trades are...
Persistent link: https://www.econbiz.de/10005703546
Based on the methodology of Beaudry and DiNardo (1991), this paper investigates the relative importance of the spot market and implicit contracts in the determination of British real wages. Empirical work is carried out separately for males and females with individuallevel data taken from the...
Persistent link: https://www.econbiz.de/10005823009
We analyze the impact of imperfect contract enforcement on the emergence of unemployment. In an experimental labor market where trading parties can form long-term employment relationships, we compare a work environment where effort is observable, but not verifiable to a situation where explicit...
Persistent link: https://www.econbiz.de/10008602725
Experimental studies have consistently shown that cooperative outcomes can emerge even in finitely repeated games. Such outcomes are justified by existing reputation building models, which suggest that cooperative outcomes can be sustained if some subjects have other-regarding preferences. While...
Persistent link: https://www.econbiz.de/10005566817
When working together, people engage in non-contractual and informal interactions that constitute the sociology of the group. We use behavioral models and a unique survey of medical groups to analyze how group sociology influences physician incentive pay and behavior. We conclude that informal...
Persistent link: https://www.econbiz.de/10005700958
Although it has long been conjectured that having physicians in leadership positions is valuable for hospital … executive officers of these hospitals are then traced by hand. The CEOs are classified into physicians and non …-physician managers. The paper finds a strong positive association between the ranked quality of a hospital and whether the CEO is a …
Persistent link: https://www.econbiz.de/10009151014
physicians have lower participation rates than male physicians plus they are subject to higher occupational mismatch, and (ii …) moonlighting is more frequent among male physicians. In this paper we investigate whether such differences are related to the … university graduates, Spanish physicians are the ones most often coupled to partners with the same educational level and/or same …
Persistent link: https://www.econbiz.de/10005762184
In our simple model the supervisor: i) cannot observe the agent's effort; ii) aims at inducing the agent to exert high effort; but iii) can only offer rewards based on performance. Since performance is only stochastically related to effort, evaluation errors may occur. In particular, deserving...
Persistent link: https://www.econbiz.de/10009416946
perform a large 'lab-in-the-field' experiment comparing entrepreneurs to managers – a suitable comparison group – and … employees (n = 2288). The results indicate that entrepreneurs perceive themselves as less risk averse than managers and …
Persistent link: https://www.econbiz.de/10010959844
We examine the relationship between the employment and compensation of managers and CEOs and the presence of a … monitoring, which requires more managers. The model also assumes rent sharing between workers, managers and the owners of the … firm. Unions, by redistributing rents towards the workers, lead to lower employment and lower pay for managers. Using a …
Persistent link: https://www.econbiz.de/10005233814