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experiment with four types of contracts (standard debt contract, outside equity, non-monotonic contract, full-subsidy contract …
Persistent link: https://www.econbiz.de/10009325864
In Geng, Weiss, and Wolff(2011), we pointed to the possibility that a voting mechanism may create or strengthen an entitlement effect in political-power holders relative to a random-appointment mechanism. This comment documents that such an effect, if it exists, is not robust.
Persistent link: https://www.econbiz.de/10010635290
experiment with funding contracts that differ in the structure of investor repayment and, therefore, in the incentives for …
Persistent link: https://www.econbiz.de/10010579490
In this paper, we experimentally approach the question of which aspects of a voting procedure are able to restrict elected candidates' willingness to use their power in an opportunistic way. For this purpose, we rule out reelection concerns and analyse whether the presence of a vote by itself...
Persistent link: https://www.econbiz.de/10008642862