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Is Marriage as Good as a Contract?
Cigno, Alessandro - 2014
Neither marriage nor a legally enforceable contract serves any useful purpose if the parties have access to a perfect credit market. In the presence of credit rationing, efficiency and utility equalization are guaranteed only by a legally enforceable contract. Separate-property marriage may...
Persistent link: https://www.econbiz.de/10013060466
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Unequal Bequests
Francesconi, Marco - 2015
Using data from the Health and Retirement Study (HRS), we make two contributions to the literature on end-of-life transfers. First, we show that unequal bequests are much more common than generally recognized, with one-third of parents with wills planning to divide their estates unequally among...
Persistent link: https://www.econbiz.de/10013027094
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Unequal Bequests
Francesconi, Marco; Pollak, Robert A.; Tabasso, Domenico - CESifo - 2015
Using data from the Health and Retirement Study (HRS), we make two contributions to the literature on end-of-life transfers. First, we show that unequal bequests are much more common than generally recognized, with one-third of parents with wills planning to divide their estates unequally among...
Persistent link: https://www.econbiz.de/10011165504
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The Roommate Problem is More Stable than You Think
Chiappori, Pierre-Andre - 2014
Stable matchings may fail to exist in the roommate matching problem, both when utility is transferable and when it is not. We show that when utility is transferable, the existence of a stable matching is restored when there is an even number of individuals of indistinguishable characteristics...
Persistent link: https://www.econbiz.de/10013056822
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The Roommate Problem - Is More Stable Than You Think
Chiappori, Pierre-André; Galichon, Alfred; Salanié, … - CESifo - 2014
Stable matchings may fail to exist in the roommate matching problem, both when utility is transferable and when it is not. We show that when utility is transferable, the existence of a stable matching is restored when there is an even number of individuals of indistinguishable characteristics...
Persistent link: https://www.econbiz.de/10010877757
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Incomplete Contracting, Renegotiation, and Expectation-Based Loss Aversion
Herweg, Fabian; Karle, Heiko; Müller, Daniel - 2021
provides a rationale for “employment contracts” in the absence of non-contractible investments. Moreover, in an extension with …
Persistent link: https://www.econbiz.de/10013315622
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The Theory of Human Capital Revisited: On the Interaction of General and Specific Investments
Kessler, Anke S.; Lülfesmann, Christoph - CESifo - 2002
Human capital theory distinguishes between training in general-usage and firm-specific skills. In his seminal work, Becker (1964) argues that employers will not be willing to invest in general training when labor markets are competitive. However, they are willing to invest in specific training...
Persistent link: https://www.econbiz.de/10005766086
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Household Relational Contracts for Marriage, Fertility and Divorce
Fahn, Matthias - 2011
This paper applies the theory of relational contracts to a model in which a couple decides whether to marry or cohabit … a stable relationship and credible punishment threats. Within this relational contracts framework, we analyze the …
Persistent link: https://www.econbiz.de/10013117792
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Observable Strategies, Commitments, and Contracts
Warneryd, Karl - 2021
We consider rules (strategies, commitments, contracts, or computer programs) that make behavior contingent on an …
Persistent link: https://www.econbiz.de/10013315559
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Relational Contracts, the Cost of Enforcing Formal Contracts, and Capital Structure Choice - Theory and Evidence
Fahn, Matthias - 2017
This paper shows that the cost of enforcing contracts governing non-financial relationships between firms affects a … firm's financing structure. We analyze the interaction between a firm's capital structure and the type of contracts it uses … an upstream party, and this intermediate good can be of high or low quality. Court-enforceable contracts can be used to …
Persistent link: https://www.econbiz.de/10012950295