, 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 …

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 …

stochastic contracts, like uncertain arbitration procedures or payments in stock options. These contracts incentivize employees …