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We study the role of traders' meeting capacities in decentralized markets with adverse selection. Uninformed customers choose trading mechanisms in order to find a provider for a service. Providers are privately informed about their quality and aim to match with one of the customers. We consider...
Persistent link: https://www.econbiz.de/10013337698
There is an emerging consensus that carbon emissions must be limited. An attractive approach to promoting carbon reductions is to encourage reductions in deforestation. But any such strategy must confront a basic problem: agents that might be induced to reduce their actions which would reduce...
Persistent link: https://www.econbiz.de/10011855609
this environment, I study a direct mechanism and characterize an optimal contract. Additionally, I compare the allocation …
Persistent link: https://www.econbiz.de/10014035633
In many-to-many matching with contracts, the way in which contracts are specified can affect the set of stable equilibrium outcomes. Consequently, agents may be incentivized to modify the set of contracts upfront. We consider one simple way in which agents may do so: unilateral bundling, in...
Persistent link: https://www.econbiz.de/10012013224
contract renegotiation is a powerful tool for incentive provision, despite the stationarity of the environment. Continuation …
Persistent link: https://www.econbiz.de/10012806553
It is well known that delegating the play of a game to an agent via incentive contracts may serve as a commitment device and hence provide a strategic advantage. Previous literature has shown that any Nash equilibrium outcome of an extensive-form principals-only game can be supported as a...
Persistent link: https://www.econbiz.de/10012001777
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 …
Persistent link: https://www.econbiz.de/10012848535
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contract and search literatures …
Persistent link: https://www.econbiz.de/10013235346