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The present paper aims to contribute to the literature on the foundations of incomplete contracts by providing conditions under which simple delegation of authority is the solution to the complete-contracting problem of the parties. We consider a hold-up framework where both parties profit from...
Persistent link: https://www.econbiz.de/10002352332
Persistent link: https://www.econbiz.de/10001893839
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 …
Persistent link: https://www.econbiz.de/10003323165
recent increase in natural gas supply led to displacement of coal-fired electricity by cleaner natural gas-fired generation …. Using detailed spatial panel data comprising the near universe of US power plants, we find that coal generation decreased by …
Persistent link: https://www.econbiz.de/10011528151
due to the burning of bituminous coal for heat. We estimate the effects of this bituminous coal consumption on mortality … rates in the U.S. during the mid-20th century. Coal consumption varied considerably during the 20th century due to coal … of confounding factors, we use a triple-differences identification strategy that relies on variation in coal consumption …
Persistent link: https://www.econbiz.de/10010250025
There has been a widespread displacement of coal by natural gas as space heating and cooking technology in Turkey in …
Persistent link: https://www.econbiz.de/10011520955
Historically coal has offered both benefits and costs to urban areas. Benefits include coal's role in fueling industry … Rosen-Roback style model to examine how differences in local coal availability affect equilibrium city employment. Drawing … on the model, the paper surveys papers that examine the net effects of coal on the growth in city population and air …
Persistent link: https://www.econbiz.de/10014290397
We revisit the incentive effects of elimination tournaments with a fresh approach to identification, the results of which strongly support that performance improves under the threat of elimination and does so, but only in part, due to increases in risk taking. Where we can separately identify...
Persistent link: https://www.econbiz.de/10011731884
The relevance of sunk costs in decision making is one of the major sources of disagreement between neoclassical economists and behavioral economists. We test the importance of sunk costs by examining the role of a player's draft position on his playing time in the National Basketball...
Persistent link: https://www.econbiz.de/10010226087
The labor economics literature has shown that the "efficient bargaining" model, in which wage and employment are negotiated simultaneously, is less frequently used on unionized markets than the less efficient "right-to-manage" model, in which wage is determined via bargaining and employment...
Persistent link: https://www.econbiz.de/10003115148