costly contracts or expensive reputations. Concurrently, experiments suggest that reciprocity is a potent substitute for law … trust-building contract device: satisfaction guaranteed. We find that satisfaction guaranteed indeed builds trust and …

lifting) matter less when individuals are more patient and altruistic, or exhibit less negative reciprocity. To account for …

We study how reelection concerns affect reciprocity by elected leaders to the voters who elected them. If showing … reciprocity? We present a signalling model of candidate behavior, where we show that candidates may limit intrinsic reciprocity to … for instrumental purposes. We then present an experiment that tests these ideas in the laboratory and finds support for …

procedures. A noisy signal, however, means that the optimal contract will involve terms that courts might view as punitive and so …

We estimate the impact of venture capital (VC) contract terms on startup outcomes and the split of value between the … power to receive more investor-friendly terms compared to the contract that maximizes startup values. Better VCs still …