I compare alternative game forms for situations where a buyer needs a sequence of human asset services. The hierarchy is defined as a game form in which the parties engage in once- and-for-all wage negotiation, the boss describes desired services sequentially, and either party may terminate the...

Attempts to economize on bargaining costs imply that two parties may write a contract which is incomplete in the sense that each party tacitly cedes some decision rights to the other. If decision-makers can be disciplined by the threat of ex post renegotiation of decisions initially delegated to...