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Deterministic versus stochastic contracts in a dynamic principal-agent model

Mettral, Thomas - 2018

I show that deterministic dynamic contracts between a principal and an agent are always at least as profitable to the … correlation of stochastic contracts across periods that the usual restriction in the literature to deterministic contracts is …

Persistent link: https://www.econbiz.de/10011901976

Stochastic contracts and subjective evaluations

Lang, Matthias - 2022

Subjective evaluations are widely used, but call for different contracts from classical moral-hazard settings. Previous … literature shows that contracts require payments to third parties. I show that the (implicit) assumption of deterministic … contracts makes payments to third parties necessary. This paper studies incentive contracts with stochastic compensation, like …

Persistent link: https://www.econbiz.de/10014458796

Human Resource Management and productivity

Bloom, Nicholas; Van Reenen, John - 2010

"In this handbook of labor economics chapter we examine the relationship between Human Resource Management (HRM) and productivity. HRM includes incentive pay (individual and group) as well as many non-pay aspects of the employment relationship such as matching (hiring and firing) and work...

Persistent link: https://www.econbiz.de/10003969411

Arbeitsrechtliche Hemmnisse für die Anreizwirkung flexibler Entgeltsysteme

Oechsler, Walter A. - 2001

Wage flexibility is often considered to be caused by the highly regulated labor market and the rigid system of labor law existing in Germany, especially in the field of wage determination. In this paper the impact of existing labor agreements on incentive systems in Germany is analyzed. It...

Persistent link: https://www.econbiz.de/10013428402

How do low-income enrollees in the affordable care act marketplaces respond to cost sharing?

Lavetti, Kurt; DeLeire, Thomas C.; Ziebarth, Nicolas R. - 2023

The Affordable Care Act requires insurers to offer cost sharing reductions (CSRs) to low-income consumers on the Marketplaces. We link 2013-2015 All-Payer Claims Data to 2004-2013 administrative hospital discharge data from Utah and exploit policy-driven differences in the actuarial value of CSR...

Persistent link: https://www.econbiz.de/10014440053

Subjective evaluation versus public information

Bester, Helmut; Münster, Johannes - 2013

This paper studies a principal-agent relation in which the principal's private information about the agent's effort choice is more accurate than a noisy public performance measure. For some contingencies the optimal contract has to specify ex post inefficiencies in the form of inefficient...

Persistent link: https://www.econbiz.de/10009752336

Credence goods, costly diagnosis, and subjective evaluation

Bester, Helmut; Dahm, Matthias - 2014

We study contracting between a consumer and an expert. The expert can invest in diagnosis to obtain a noisy signal about whether a low-cost service is sufficient or whether a high-cost treatment is required to solve the consumerś problem. This involves moral hazard because diagnosis effort and...

Persistent link: https://www.econbiz.de/10010429934

Optimal procurement of a credence good under limited liability

Bester, Helmut; Ouyang, Yaofu - 2017

This paper analyzes the optimal contract for a consumer to procure a credence good from an expert when (i) the expert might misrepresent his private information about the consumer’s need, (ii) the expert might not choose the requested service since his choice of treatment is non-observable,...

Persistent link: https://www.econbiz.de/10011781931

Mandated sick pay : coverage, utilization, and welfare effects

Maclean, Catherine; Pichler, Stefan; Ziebarth, Nicolas R. - 2021

This paper evaluates how sick pay mandates operate at the job level in the United States. Using the National Compensation Survey and difference-in-differences models, we estimate their impact on coverage rates, sick leave use, labor costs, and non-mandated fringe benefits. Sick pay mandates...

Persistent link: https://www.econbiz.de/10012671879

Misappropriation of R&D subsidies : estimating treatment effects with one-sided noncompliance

Boeing, Philipp; Peters, Bettina - 2021

In evaluating the effectiveness of R&D subsidies, the literature has focused on potential crowding out effects, while the possibility of misappropriation of public funds that results from moral hazard behavior has been completely neglected. This study develops a theoretical framework with which...

Persistent link: https://www.econbiz.de/10012661468