, while the second contract gives an additional sales bonus. Although theory predicts the second contract to be chosen, it is … contracts which determine their managers' salaries. One contract simply gives managers incentives to maximize firm profits …

design has to regard an equity constraint that has so far been neglected by contract theory. In fact, most contract offers … observed in the experiment aim at fair surplus sharing. -- principal-agent theory ; contract theory ; fair sharing ; incentive …Modern 'principal-agent theory' has made a lot of progress in proposing theoretical Solutions to agency problems. This …

(geno-) types as in evolutionary biology and game theory. Survival in inter- and intraspecies competition together with … competition and analyze the conditions for species survival. The second aspect refers to success in intraspecies competition of …

leadership. Our data, however, does not confirm the theory. While Stackelberg equilibria are extremely rare we often observe …

We report on an experiment designed to compare Stackelberg and Cournot duopoly markets with quantity competition. For …

Most models of labor markets and (un)employment neglect how competition among firms or sectors of the economy affects … by price competition. A special advantage of such a framework is that one can distinguish two kinds of employment effects …

two period game, involving the choke of the contract; length by the principal and an investment choke by the agent. In … contrast to the game theoretic predictions, we find that investment of the worker and length of contract; are strictly … although the model is fully deterministic. This could imply a behaviorally relevant difference between contract and market …