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absence of legal enforcement and reputation formation opportunities the credit market breaks down almost completely while if … reputation formation is possible a stable credit market emerges even in the absence of legal enforcement of debt repayment … markets ; relationship lending ; reputation formation ; legal enforcement …
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price rigidity. Reputation powerfully amplifies the positive effects of social preferences on contract enforcement by … interactions, suggesting that it may aggravate price rigidities. Surprisingly, reputation in fact weakens the wage and price …. -- Reputation ; reciprocity ; relational contracts ; price rigidity ; wage rigidity …
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absence of legal enforcement and reputation formation opportunities the credit market breaks down almost completely while if … reputation formation is possible a stable credit market emerges even in the absence of legal enforcement of debt repayment …
Persistent link: https://www.econbiz.de/10013157034
price rigidity. Reputation powerfully amplifies the positive effects of social preferences on contract enforcement by … interactions, suggesting that it may aggravate price rigidities. Surprisingly, reputation in fact weakens the wage and price …
Persistent link: https://www.econbiz.de/10010268857
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In recent decades, many firms offered more discretion to their employees, often increasing the productivity of effort but also leaving more opportunities for shirking. These "high-performance work systems" are difficult to understand in terms of standard moral hazard models. We show...
Persistent link: https://www.econbiz.de/10011600906
In recent decades, many firms offered more discretion to their employees, often increasing the productivity of effort but also leaving more opportunities for shirking. These “high-performance work systems” are difficult to understand in terms of standard moral hazard models. We show...
Persistent link: https://www.econbiz.de/10010427573