(1995), into which collusion and renegotiation possibilities among agents are incorporated. In this model, we prove that … there exists a linear and stationary optimal compensation scheme which is also immune to collusion and renegotiation. …

a refinement of subgame-perfection, known as renegotiation proofness, and the second is an aspiration-based learning …

frequent renegotiation of concessions observed in practice. This paper shows that the fixed-term nature of contracts is the key … auction mechanism reduces the probability of selection errors and contract renegotiation, and it is simple enough to …

possibility of renegotiation, a signal’s usefulness in incentive contracting depends on its information quality, not simply on …

new, matches and Pareto efficient spot renegotiation of mandated severance pay. Severance pay matters only if real wage … destruction and increase job creation and social efficiency, under very mild conditions. Efficient renegotiation implies that …

Renegotiation is a common practice in procurement auctions which allows for post-auction price adjustments and is …. Using a combination of theory and experiments, we examine the effectiveness of renegotiation at solving this problem. Our … findings demonstrate that renegotiation is rarely successful at solving the problem of sellers misestimating costs. The primary …