, competition does not eliminate but rather exacerbates inefficiencies arising from contracting with focused agents. Common contract …

make external financing costly, the optimal contract between shareholders and employees involves some degree of risk …

contracts. Theory shows that the possibility of default on a long-term lease generates a risk/lease-length connection. The …

Insurance for natural hazards - earthquakes, hurricanes, or pandemics - is rarely comprehensively adopted without …. Efforts to close this insurance gap include the introduction of parametric (index) insurance products for various catastrophic … risks. We compare parametric to indemnity insurance in a simple model where the insurance company has superior information …

We extend the seminal Rothschild and Stiglitz (1976) model on competitive insurance markets with asymmetric information … can be withdrawn after observation of competitors' contract offers. We show that an equilibrium always exists where … consumers obtain their respective Wilson-Miyazaki-Spence (WMS) contract. Jointly profit-making contracts can also be sustained …

We consider a competitive insurance market with adverse selection. Unlike the standard models, we assume that … limited liability afforded via bankruptcy laws. Government assistance is calculated ex post of any insurance benefits. This … alters the individuals? demand for insurance coverage. In turn, this affects equilibria in various insurance models of …

This paper constructs a theory of the coexistence of fixed-term and permanent employment contracts in an environment … to discriminate by offering some workers a fixed-term contract while offering other workers a permanent contract. Match …-specific quality between a worker and a firm determines the type of contract offered. We analytically characterize the firm's hiring …

-invest in early construction, seeking a renegotiation thereafter. We show that, in a renegotiation-proof contract, the marginal …

consumer electronics, and club memberships. We demonstrate that consumption is affected by contract structure (pay-peruse vs …. We also measure subjects' willingness to pay for a contract with free access units, and we find that nearly half of … strategy is therefore to offer a contract that pre-sells access units at a very small discount; this strategy increases revenue …