provide powerful incentives and are superior to explicit incentive contracts when there are some fair-minded players. But …, which offer important new insights into the interaction of contract choices, fairness and incentives. … trust contracts that pay a generous wage upfront are less efficient than incentive contracts. The principals understand this …

incentive-based compensation, consistent with theoretical predictions that termination incentives can substitute for incentive …

, we exploit an exogenous change in the contract structure in 2003, the piece rate increasing from 20.2 to 22.9 euros. We …

enforcement power of explicit and implicit incentives. This contract preference is associated with the fact that explicit … contracts in a moral hazard context. Explicit incentive contracts that are optimal according to self-interest theory become … actors provide powerful incentives and become superior when there are some fair-minded players. The principals understand …