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Jovanovic, Boyan - 1996

We analyze the contractual relation between workers and their employers when there is nominal risk. The key feature of … eliminate all nominal risk for the parties (by fully indexing the terms of the contracts to the price level) but they would be …

Persistent link: https://www.econbiz.de/10012473208

Dynamic Incentive Contracts Under Parameter Uncertainty

Prat, Julien - 2010

Commitment is therefore more valuable when quality is known more precisely. Incentives then are easier to provide because the agent has less room to manipulate the beliefs of the principal. Moreover, in contrast to results under one-period commitment, wage volatility declines as experience...

Persistent link: https://www.econbiz.de/10012462007