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Strategic incomplete contracts : theory and experiments

Erkal, Nisvan; Wu, Steven Y.; Roe, Brian - 2014

We develop a model of strategic contractual incompleteness that identifies conditions under which principals might omit even costlessly verifiable terms. We then use experiments to test comparative statics predictions of the model. While it is well known that verifiability imperfections can...

Persistent link: https://www.econbiz.de/10010457849

Can contracts signal social norms? : experimental evidence

Danilov, Anastasia; Sliwka, Dirk - 2013

We investigate whether incentive schemes signal social norms and thus affect behavior beyond their direct economic consequences. A principal-agent experiment is studied in which prior to contract choice principals are informed about past actions of other agents and thus have more information...

Persistent link: https://www.econbiz.de/10009765609

The response to dynamic incentives in insurance contracts with a deductible : evidence from a differences-in-regression-discontinuities design

Klein, Tobias J.; Salm, Martin; Upadhyay, Suraj - 2020

We develop a new approach to quantify how patients respond to dynamic incentives in health insurance contracts with a … large Dutch health insurer we find that individuals are forward-looking. Changing dynamic incentives by increasing the … level. The response to dynamic incentives is an important part of the overall effect of cost-sharing schemes on healthcare …

Persistent link: https://www.econbiz.de/10012199099

Gift exchange and workers' fairness concerns : when equality is unfair

Abeler, Johannes; Altmann, Steffen; Kube, Sebastian; … - 2009

. This is not caused by monetary incentives per se since under both wage schemes it is profit-maximizing for agents to exert …

Persistent link: https://www.econbiz.de/10003863658

Take a chance on ABBA

Cohen-Zada, Danny; Krumer, Alex; Shapir, Offer Moshe - 2017

The order of actions in contests may generate different psychological effects which, in turn, may influence contestants' probabilities to win. The Prouhet-Thue-Morse sequence in which the first 'n' moves is the exact mirror image of the next 'n' moves should theoretically terminate any advantage...

Persistent link: https://www.econbiz.de/10011704206

Reputations, relationships and the enforcement of incomplete contracts

MacLeod, William Bentley (contributor) - 2006

This paper discusses the literature on the enforcement of incomplete contracts. It compares legal enforcement to enforcement via relationships and reputations. A number of mechanisms, such as the repeat purchase mechanism (Klein and Leffler (1981)) and efficiency wages (Shapiro and Stiglitz...

Persistent link: https://www.econbiz.de/10003278957

Testing canonical tournament theory : on the impact of risk, social preferences and utility structure

Sheremeta, Roman M.; Wu, Steven Y. - 2012

We use experiments to test comparative statics predictions of canonical tournament theory. Both the roles of principal and agent are populated by human subjects, allowing us to test predictions for both incentive responses and optimal tournament design. Consistent with theory, we observed an...

Persistent link: https://www.econbiz.de/10009530179

How do informal agreements and renegotiation shape contractual reference points?

Fehr, Ernst; Hart, Oliver D.; Zehnder, Christian - 2011

Previous experimental work provides encouraging support for some of the central assumptions underlying Hart and Moore (2008)'s theory of contractual reference points. However, existing studies ignore realistic aspects of trading relationships such as informal agreements and ex post...

Persistent link: https://www.econbiz.de/10009517867

Employee stock purchase plans : gift or incentive? ; evidence from a multinational corporation

Bryson, Alex; Freeman, Richard B. - 2014

Many large listed firms offer workers the opportunity to buy shares in the firm at discounted rates through employee stock purchase plans (ESPP). The discounted rate creates a gift exchange, where the firm hopes that workers who accept the gift reciprocate with greater loyalty and effort. But...

Persistent link: https://www.econbiz.de/10010414209

Social interaction, co-worker altruism, and incentives

Dur, Robert A. J.; Sol, Joeri - 2009

colleagues, which in turn creates co-worker altruism. We study how financial incentives for productive activities can improve or … damage the work climate. We show that both team incentives and relative incentives can help to create a good work climate …

Persistent link: https://www.econbiz.de/10003909134

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