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Lazear, Edward P. - 1986

Persistent link: https://www.econbiz.de/10012477157

A Comparison of Tournaments and Contracts

Green, Jerry R. - 1982

Tournaments, reward structures based on rank order, are compared with individual contracts in a model with one risk-neutral principal and many risk-averse agents. Each agents' output is a stochastic function of his effort level plus an additive shock term that is common to all the agents. The...

Persistent link: https://www.econbiz.de/10012478271

Venture Capital Contracts

Ewens, Michael - 2019

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 … certain contract terms benefits entrepreneurs and enables low-quality entrepreneurs to finance their startups more quickly …

Persistent link: https://www.econbiz.de/10012480061

Inventor Moral Hazard in University Licensing : The Role of Contracts

Dechenaux, Emmanuel - 2008

We examine commonly observed forms of payment, such as milestones, royalties, or consulting contracts as ways of engaging inventors in the development of licensed inventions. Our theoretical model shows that when milestones are feasible, royalties are not optimal unless the licensing firm is...

Persistent link: https://www.econbiz.de/10012464422

Contract Renegotiation in Agency Problems

Edlin, Aaron S. - 1997

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

Persistent link: https://www.econbiz.de/10012472728

Short-Term Contracts as a Monitoring Device

Rey, Patrick - 1993

This paper focuses on two separate problems. The first is that frequently, the most profitable use of funds involves long-term investments, which militiates for long-term debt contracts. The second problem is to monitor the investor's use of funds, as exemplified by the U.S. S&L saga, and we...

Persistent link: https://www.econbiz.de/10012474431

Competition in or for the Field : Which is Better?

Engel, Eduardo - 2002

In many circumstances, a principal, who wants prices to be as low as possible, must contract with agents who would like … to charge the monopoly price. This paper compares a Demsetz auction, which awards an exclusive contract to the agent …

Persistent link: https://www.econbiz.de/10012469846

Marketing Agencies and Collusive Bidding in Online Ad Auctions

Decarolis, Francesco - 2017

The transition of the advertising market from traditional media to the internet has induced a proliferation of marketing agencies specialized in bidding in the auctions that are used to sell ad space on the web. We analyze how collusive bidding can emerge from bid delegation to a common...

Persistent link: https://www.econbiz.de/10012453751

Information Favoritism and Scoring Bias in Contests

Deng, Shanglyu; Fang, Hanming; Fu, Qiang; Wu, Zenan - National Bureau of Economic Research - 2023

Two potentially asymmetric players compete for a prize of common value, which is initially unknown, by exerting efforts. A designer has two instruments for contest design. First, she decides whether and how to disclose an informative signal of the prize value to players. Second, she sets the...

Persistent link: https://www.econbiz.de/10014247957

Screening Adaptive Cartels

Ortner, Juan M.; Chassang, Sylvain; Kawai, Kei; … - National Bureau of Economic Research - 2022

We propose an equilibrium theory of data-driven antitrust oversight in which regulators launch investigations on the basis of suspicious bidding patterns and cartels can adapt to the statistical screens used by regulators. We emphasize the use of asymptotically safe tests, i.e. tests that are...

Persistent link: https://www.econbiz.de/10013334437

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