contracts are prematurely terminated. In the absence of contracting frictions that prevent contractors from redesigning … contracts to accommodate exogenous policy changes, PPLD would not be distortionary or redistributive. If contracting frictions …

talented workers leads to an escalating reliance on performance pay and other high-powered incentives, thereby shifting effort …

talented workers leads to an escalating reliance on performance pay and other high-powered incentives, thereby shifting effort …

contracts are prematurely terminated. In the absence of contracting frictions that prevent contractors from redesigning … contracts to accommodate exogenous policy changes, PPLD would not be distortionary or redistributive. If contracting frictions …

fairness on effort, derive predictions from our approach for entry-level wages and incumbent workers' wages, confront these … incompleteness and relational nature of most employment contracts and (ii) the existence of reference-dependent fairness concerns … concerns on economic outcomes. We also review evidence from laboratory and field experiments examining the role of wages and …

fairness on effort, derive predictions from our approach for entry-level wages and incumbent workers' wages, confront these … incompleteness and relational nature of most employment contracts and (ii) the existence of reference-dependent fairness concerns … concerns on economic outcomes. We also review evidence from laboratory and field experiments examining the role of wages and …

We derive the shape of optimal unemployment insurance (UI) contracts when agents can exert search effort but face … selection problem with repeated moral hazard. Conditions under which the UI agency should always offer separating contracts are …