example of how markets, as opposed to private negotiations, can be used to determine efficient contract terms. -- law and … economics ; incomplete contracts ; construction ; agency theory ; industry studies ; outsourcing ; procurement …

extra one-time bonus tied to output. Under the bonus contract, we observe bunching of performance just above the bonus … workers gain experience. At the same time, the bonus contract induces considerable learning-by-doing for workers throughout … bunching. In contrast, under the standard piece rate contract, we find minimal evidence of bunching and only small performance …

two economically equivalent contracts - a fixed-term renewable and an open-ended at-will contract. Each contract provides … partners with full flexibility regarding the length and termination of their interaction. When only one contract type is … contract type. However, when both contracts are available offering a fixed-term instead of an open-ended contract is perceived …