No–poaching clauses (NPCs) have recently come under scrutiny due to their potentially anti–competitive impact on wages. However they can also enhance efficiency. We use data from the US chain restaurant industry to assess the effect of such clauses on wages and we find robust evidence of a...

We examine theoretical predictions and econometric evidence concerning franchise contracting and sales-force compensation and suggest a number of factors that ought to influence the contracts that are written between principles and agents. For each factor, we construct the simplest theoretical...