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Formal and informal risk sharing in LDCs : theory and empirical evidence
Dubois, Pierre (contributor); Jullien, Bruno (contributor);  … - 2008
Persistent link: https://www.econbiz.de/10003630524
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The information content of dividends : safer profits, not higher profits
Michaely, Roni; Rossi, Stefano; Weber, Michael - 2017 - This version: October 2017
Contrary to the central prediction of signaling models, changes in profits do not empirically follow changes in dividends. We show both theoretically and empirically that dividends signal safer, rather than higher, future profits. Using the Campbell (1991) decomposition, we are able to estimate...
Persistent link: https://www.econbiz.de/10011754236
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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
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Active courts and menu contracts
Anderlini, Luca (contributor); Felli, Leonardo (contributor) - 2006
Persistent link: https://www.econbiz.de/10003456217
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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
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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
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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 … credit market. In the presence of credit rationing, efficiency and utility equalization are guaranteed only by a legally … enforceable contract. Separate-property marriage may reduce and community-property marriage actually eliminate inefficiency, but …
Persistent link: https://www.econbiz.de/10010227229
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Formal contracts, relational contracts, and the holdup problem
Itō, Hideshi (contributor); Morita, Hodaka (contributor) - 2006
Persistent link: https://www.econbiz.de/10003364841
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Relational contracts and trust in a high-tech industry
Calzolari, Giacomo; Felli, Leonardo; Koenen, Johannes; … - 2021
We study how informal buyer-supplier relationships in the German automotive industry affect procurement. Using unique data from a survey focusing on these, we show that more trust, the belief that the trading partner acts to maintain the mutual relationship, is associated with both higher...
Persistent link: https://www.econbiz.de/10012649766
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Stochastic contracts and subjective evaluations
Lang, Matthias - 2021
Subjective evaluations are widely used, but call for different contracts from traditional moral-hazard settings. Previous literature shows that contracts require payments to third parties, which real-world contracts rarely use. I show that the implicit assumption of deterministic contracts makes...
Persistent link: https://www.econbiz.de/10012697032