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incompleteness and relational nature of most employment contracts and (ii) the existence of reference-dependent fairness concerns … among a substantial share of the population into account. Theory shows and experiments confirm, that even if fairness … fairness on effort, derive predictions from our approach for entry-level wages and incumbent workers' wages, confront these …
Persistent link: https://www.econbiz.de/10003793473
the fairness and unfairness of allocations in three different scenarios (a Dictator game, an Ultimatum game, and a Trust … same session we elicit again their principles regarding the fairness and unfairness of allocations in the same three …, norms that appear abstract and universal take into account the bargaining power of the two sides. The strong side bends the …
Persistent link: https://www.econbiz.de/10009545257
Simple bargaining games are the foundation of more complex social interactions necessary for healthy relationships and … classic simple bargaining games (ultimatum, dictator, and trust games). Specifically, we experimentally manipulate sleep …
Persistent link: https://www.econbiz.de/10011450381
In many kinds of bilateral negotiations the resolution of the issues at stake has an impact which extends beyond the remits of the parties directly involved (e.g. labour negotiations in sectors of public interest, where a strike would impact on the public at large). Once this is recognised,...
Persistent link: https://www.econbiz.de/10011405864
particular, we analyze how horizontal fairness concerns affect performance and efficiency in an environment characterized by …
Persistent link: https://www.econbiz.de/10003863658
; long-run Phillips curve ; fairness ; inequity aversion …
Persistent link: https://www.econbiz.de/10009530187
International climate negotiations have been troubled by mutual mistrust. At the same time, a hope seems to prevail that once enough countries moved forward, others would follow suit. If the abatement game faced by climate negotiators is a Prisoners' Dilemma, and countries are narrowly...
Persistent link: https://www.econbiz.de/10010488278
We experimentally investigate multiple notions of equity in ultimatum bargaining with asymmetric outside options …
Persistent link: https://www.econbiz.de/10010191262
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
In a recent paper, Hart and Moore (2008) introduce new behavioral assumptions that can explain long term contracts and important aspects of the employment relation. However, so far there exists no direct evidence that supports these assumptions and, in particular, Hart and Moore's notion that...
Persistent link: https://www.econbiz.de/10003793317