on fruit pickers paid under two distinct compensation contracts: a standard piece rate plan and a piece rate plan with an … 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 …

two economically equivalent contracts - a fixed-term renewable and an open-ended at-will contract. Each contract provides … contract type. However, when both contracts are available offering a fixed-term instead of an open-ended contract is perceived …We investigate how payoff-irrelevant terms can negatively impact relational contracts. In a lab experiment we compare …

the economics literature on contract. The title, Contracts between Legal Persons, limits the review to that part of … ; contract theory ; incomplete contracts …Contract law and the economics of contract have, for the most part, developed independently of each other. In this …

We present a wage-hours contract designed to minimize costly job turnover given investments in on the job training …

Most contracts that individuals enter into are not written from scratch; rather, they depend upon forms and terms that … have been successful in the past. In this paper, we study the structure of form construction contracts published by the … American Institute of Architects (AIA). We show that these contracts are an efficient solution to the problem of procuring …

analytically solve for the optimal contract when the agent has exponential utility. We find that the Pareto frontier shifts out as … accumulates. -- principal-agent model ; optimal contract ; learning ; private information ; reputation ; career …

This paper studies the design of optimal contracts in dynamic environments where agents learn by doing. We derive a … condition under which contracts are fully incentive compatible. A closed-form solution is obtained when agents have CARA utility …

verifiability, subjects overwhelmingly used complete contracts to conduct trades, achieving nearly first best outcomes. In our … heavily on incomplete contracts that omitted even costlessly verifiable terms. However, the efficacy of incomplete contracts … in outperforming available complete contracts depends critically on the continuation probability of repeat trading. With …

We develop a new approach to quantify how patients respond to dynamic incentives in health insurance contracts with a … contracts reset at the beginning of the year, and cost-sharing limits change over the years. Using rich claims-level data from a …