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In an earlier work, we analyzed how the legal rules governing contractual liability affect the transfer of information between the parties to the contract. In particular, we showed how limitations on contractual liability might lead high valuation buyers to reveal their valuation of performance,...
Persistent link: https://www.econbiz.de/10012471688
In this paper, the choice between public and private provision of goods and services is considered. In practice, both modes of operation involve significant delegation of authority, and thus appear quite similar in some respects. The argument here is that the main difference between the two mod-...
Persistent link: https://www.econbiz.de/10012476874
or responsiveness to financial incentives. In the frontier literature productive efficiency is assumed to be exogenously … with theoretical work on internal theory of the firm, which predicts that productivity compensation schemes will work well … production, as theory has hypothesized. The number of members in a group decreases both the quantity produced and the efficiency …
Persistent link: https://www.econbiz.de/10012476899
The purpose of this paper is to address the role of endogenous default penalties that are contingent upon the intensity of default on the part of the borrowing nation, and to evaluate the effects of contingency plans that make the interest rate dependent upon variables that are correlated with...
Persistent link: https://www.econbiz.de/10012477039
rigid than pay that is not designed to effect incentives. Some have gone so far as to argue that this may explain … differences in unemployment rates across countries. it is shown that there is no direct link between incentives and wage rigidity …. Many compensation schemes that provide incentives have the reverse effect: That is, they tend to make wages more rigid than …
Persistent link: https://www.econbiz.de/10012477796
Before 1979, unemployment insurance (UI) benefits were not treated as taxable income in the United States. Several economists criticized this policy on the ground that not taxing UI benefits while taxing earned income allegedly encourages unemployed persons to conduct longer than socially...
Persistent link: https://www.econbiz.de/10012477837
This paper addresses two questions:(1) Are older persons' retirement ages significantly affected by the opportunities for income from earnings,private pensions, and Social Security and for leisure at alternative retirement ages?; and (2) How large are the estimated responses? Our approach to...
Persistent link: https://www.econbiz.de/10012478006
Many provisions of the Social Security Program distort an individual's labor supply incentives. In particular, the …
Persistent link: https://www.econbiz.de/10012478119
individual employee earnings. The study examines the impact of incentives on the earnings of over 100,000 employees in 500 firms … variance is maintained with the addition of controls for heterogeneity of individual characteristics between the two sectors …
Persistent link: https://www.econbiz.de/10012478232
This paper examines the characteristics of and interactions among measures to effect saving and investment incentives … ("S-I incentives")in the context of an income tax system that is inadequately indexed for inflation. Examples are … incentives are classified into "consumption tax" and "direct grant" types, and it is shown that these differ in their influence …
Persistent link: https://www.econbiz.de/10012478486