firms' incentives to selectively enroll low-cost individuals, governments frequently "risk-adjust" payments to firms based … on enrollees' characteristics. We model how risk adjustment affects selection and differential payments---the government … that firms reduce selection along dimensions included in the risk-adjustment formula, while increasing selection along …

mechanisms that have been and can be used to combat these failures. Standardized contracts and creditable coverage mandates are … discussed, along with premium support, enrollment mandates, guaranteed issue, and risk adjustment, as remedies for selection … 2010. Enrollment mandates, premium subsidies, and risk adjustment can improve the stability and relative efficiency of the …

contracts between a large managed care organization and leading hospitals for the provision of organ and tissue transplants …. Exploiting "donut holes" in the reimbursement contracts we estimate how the total claims filed by the hospitals depend on the …

; restricted mobility allowed workers to commit to risk-sharing contracts with lower, but less volatile, wages …

nevertheless be achieved if clients, employers, and workers can renegotiate these restrictive employment contracts and make … compensating transfers. If workers cannot finance transfers to employers, however, employers and workers will sign contracts that … of these contracts. With or without liquidity constraints, locations where non-compete contracts are less enforced will …

existing accounting standards allow governments to renegotiate PPP contracts and elude spending limits. Our model of … renegotiations in the early stages of the contract, e.g. during construction. We use data on Chilean renegotiations of PPP contracts … that if PPP investments are counted as current government spending, the incentives to renegotiate contracts to increase …

We evaluate the asset pricing implications of a class of models in which risk sharing is imperfect because of limited … enforcement of intertemporal contracts. Lustig (2004) has shown that in such a model the asset pricing kernel can be written as a … pricing aggregate risk. We find that for high values of the relative risk aversion coefficient, the limited enforcement …

front-loaded contracts respond to newly mandated portability requirements of their old-age provisions. To foster competition …

. This paper is the first to document that these contracts are a risk management tool and have a material impact on corporate … hedging activity. Firms that expand their risk management options following the introduction of steel futures contracts …Purchase obligations are forward contracts with suppliers and are used more broadly than traded commodity derivatives …