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Observable strategies, commitments, and contracts

Wärneryd, Karl Erik - 2014

We consider rules (strategies, commitments, contracts, or computer programs) that make behavior contingent on an opponent's rule. The set of perfectly observable rules is not well defined. Previous contributions avoid this problem by restricting the rules deemed admissible. We instead limit the...

Persistent link: https://www.econbiz.de/10010437999

Contract enforcement and institutions among the Maghribi traders : refuting Edwards and Ogilvie

Greif, Avner (contributor) - 2008

Edwards and Ogilvie (2008) dispute the empirical basis for the view (Greif, e.g., 1989, 1994, 2006) that multilateral reputation mechanism mitigated agency problems among the eleventh-century Maghribi traders. They assert that the relations among merchants and agents were law-based. This paper...

Persistent link: https://www.econbiz.de/10003730316

Active courts and menu contracts

Anderlini, Luca (contributor); Felli, Leonardo (contributor) - 2006

Persistent link: https://www.econbiz.de/10003456217

Information markets, elections and contracts

Gersbach, Hans; Müller, Markus - 2011

Politicians may pander to public opinion and may renounce undertaking beneficial long-term projects. To alleviate this problem, we introduce a triple mechanism involving political information markets, reelection threshold contracts, and democratic elections. An information market is used to...

Persistent link: https://www.econbiz.de/10009009663

A game-theoretic foundation for the Wilson equilibrium in competitive insurance markets with adverse selection

Mimra, Wanda; Wambach, Achim - 2011

can be withdrawn after observation of competitors' contract offers.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 … entry. -- casymmetric information ; competitive insurance market ; contract withdrawal …

Persistent link: https://www.econbiz.de/10009011830

Let's talk : how communication affects contract design

Brandts, Jordi; Charness, Gary; Ellman, Matthew - 2012

perceptions). We offer an explanation based on social norms. -- contract design ; communication ; experiments …

Persistent link: https://www.econbiz.de/10009571048

Contracts, biases and consumption of access services

Leider, Stephen G.; Sahin, Ozge - 2012

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 presells access units at a very small discount; this strategy increases revenue …

Persistent link: https://www.econbiz.de/10009489036

Insurance contracts and securitization

Doherty, Neil A.; Schlesinger, Harris - 2001

High correlations between risks can increase required insurer capital and/orreduce the availability of insurance. For such insurance lines, securitizationis rapidly emerging as an alternative form of risk transfer. The ultimatesuccess of securitization in replacing or complementing traditional...

Persistent link: https://www.econbiz.de/10011400246

Communicating subjective evaluations

Lang, Matthias - 2014

Should principals explain and justify their evaluations? Suppose the principal's evaluation is private information, but she can provide justification by sending a costly cheap-talk message. If she does not provide justification, her message space is restricted, but the message is costless. I...

Persistent link: https://www.econbiz.de/10010361447

Is marriage as good as a contract?

Cigno, Alessandro - 2013

Neither marriage nor a legally enforceable contract serves any useful purpose if the parties have access to a perfect … enforceable contract. Separate-property marriage may reduce and community-property marriage actually eliminate inefficiency, but …

Persistent link: https://www.econbiz.de/10010227229