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. -- Reputation ; reciprocity ; relational contracts ; price rigidity ; wage rigidity …
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We study the impact of reputational incentives in markets characterized by moral hazard problems. Social preferences have been shown to enhance contract enforcement in these markets, while at the same time generating considerable wage and price rigidity. Reputation powerfully amplifies the...
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We study the impact of reputational incentives in markets characterized by moral hazard problems. Social preferences have been shown to enhance contract enforcement in these markets, while at the same time generating considerable wage and price rigidity. Reputation powerfully amplifies the...
Persistent link: https://www.econbiz.de/10013325011
This paper presents a formal theory of reciprocity. Reciprocity means that people reward kind actions and punish unkind …
Persistent link: https://www.econbiz.de/10011398368