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Adverse Selection in Competitive Search Equilibrium

Guerrieri, Veronica - 2009

contract and search literatures …

Persistent link: https://www.econbiz.de/10012463733

Optimal Employment Contracts with Hidden Search

Lentz, Rasmus - 2014

In this paper I explore optimal employment contract design in a random search framework, where workers search on and …

Persistent link: https://www.econbiz.de/10012458676

On the Role of Learning, Human Capital, and Performance Incentives for Wages

Camargo, Braz; Lange, Fabian; Pastorino, Elena - National Bureau of Economic Research - 2022

Performance pay in general amounts to only a small fraction of total pay. In this paper, we show that performance pay is nevertheless important for the level and dynamics of wages over the life cycle because of the incentives it indirectly provides for human capital acquisition and because of...

Persistent link: https://www.econbiz.de/10013334409

Contracts as Reference Points

Hart, Oliver - 2006

We argue that a contract provides a reference point for a trading relationship: more precisely, for parties' feelings … permitted by the contract. A party who is shortchanged shades on performance. A flexible contract allows parties to adjust their …

Persistent link: https://www.econbiz.de/10012465954

The Visible Hand, the Invisible Hand and Efficiency

Goldman, Eitan - 2000

When a firm forms a market closes. Resources that were previously allocated via the price system are allocated by managerial authority within the firm. We explore this choice of organizational form using a model of price formation in which agents negotiate prices on behalf of their principals...

Persistent link: https://www.econbiz.de/10012471182

Entrepreneurship in Equilibrium

Gromb, Denis - 2002

This paper compares the financing of new ventures in start-ups (entrepreneurship) and in established firms (intrapreneurship). Intrapreneurship allows established firms to use information on failed intrapreneurs to redeploy them into other jobs. By contrast, failed entrepreneurs must seek other...

Persistent link: https://www.econbiz.de/10012469713

Remedies for Sick Insurance

McFadden, Daniel L. - 2012

This expository paper describes the factors that contribute to failure of health insurance markets, and the regulatory mechanisms that have been and can be used to combat these failures. Standardized contracts and creditable coverage mandates are discussed, along with premium support, enrollment...

Persistent link: https://www.econbiz.de/10012460721

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

A Continuous-Time Agency Model of Optimal Contracting and Capital Structure

DeMarzo, Peter M. - 2004

drift in continuous time. The difficulty in writing an appropriate financial contract in this setting is that the agent can … long-term contract specifies the agent's wage and can force termination of the project. Using techniques from stochastic … calculus similar to Sannikov (2003), we characterize the optimal contract by a differential equation. We show that this …

Persistent link: https://www.econbiz.de/10012468076

Nudges in Exercise Commitment Contracts : A Randomized Trial

Bhattacharya, Jay - 2015

enroll in a subsequent commitment contract after the original expires if they receive a nudge for a longer duration initial … contract. Our theoretical analysis of the welfare implications of these effects shows conditions under which nudges can reduce …

Persistent link: https://www.econbiz.de/10012457262