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Contract Renegotiation in Agency Problems

Edlin, Aaron S. - 1997

procedures. A noisy signal, however, means that the optimal contract will involve terms that courts might view as punitive and so …

Persistent link: https://www.econbiz.de/10012472728

Short-Term Contracts as a Monitoring Device

Rey, Patrick - 1993

This paper focuses on two separate problems. The first is that frequently, the most profitable use of funds involves long-term investments, which militiates for long-term debt contracts. The second problem is to monitor the investor's use of funds, as exemplified by the U.S. S&L saga, and we...

Persistent link: https://www.econbiz.de/10012474431

The Incidence of Adverse Selection : Theory and Evidence from Health Insurance Choices

Geruso, Michael; Layton, Timothy; Leive, Adam - National Bureau of Economic Research - 2023

Existing research on selection in insurance markets focuses on how adverse selection distorts prices and misallocates products across people. This ignores the distributional consequences of who pays the higher prices. In this paper, we show that the distributional incidence depends on the...

Persistent link: https://www.econbiz.de/10014322822

Contracts and Money

Jovanovic, Boyan - 1996

re-negotiated. Foreseeing this, the parties to the contract will write one that is renegotiation-proof. Under such a … contract, nominal shocks affect real consumption. Since the argument should apply in many situations, it will have …

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

Incentive Contracts

Lazear, Edward P. - 1986

Persistent link: https://www.econbiz.de/10012477157

A Comparison of Tournaments and Contracts

Green, Jerry R. - 1982

Tournaments, reward structures based on rank order, are compared with individual contracts in a model with one risk-neutral principal and many risk-averse agents. Each agents' output is a stochastic function of his effort level plus an additive shock term that is common to all the agents. The...

Persistent link: https://www.econbiz.de/10012478271

Venture Capital Contracts

Ewens, Michael - 2019

We estimate the impact of venture capital (VC) contract terms on startup outcomes and the split of value between the … power to receive more investor-friendly terms compared to the contract that maximizes startup values. Better VCs still … certain contract terms benefits entrepreneurs and enables low-quality entrepreneurs to finance their startups more quickly …

Persistent link: https://www.econbiz.de/10012480061

Inventor Moral Hazard in University Licensing : The Role of Contracts

Dechenaux, Emmanuel - 2008

-in university inventions supports the complementarity of milestones and consulting suggested by the theory …

Persistent link: https://www.econbiz.de/10012464422

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

The Subjective Inflation Expectations of Households and Firms : Measurement, Determinants, and Implications

Weber, Michael; D'Acunto, Francesco; Gorodnichenko, Yuriy; … - National Bureau of Economic Research - 2022

Households' and firms' subjective inflation expectations play a central role in macroeconomic and intertemporal microeconomic models. We discuss how subjective inflation expectations are measured, the patterns they display, their determinants, and how they shape households' and firms' economic...

Persistent link: https://www.econbiz.de/10013210074

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