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contracts. These remedies are reciprocity, repeated game effects, social embeddedness, and incentive contracts. In our baseline … treatment we find that reciprocity is a powerful contract enforcement device. A second experiment establishes that repeated game … effects interact with reciprocity in a complementary way, i.e., efficiency is increased compared to our baseline. Adding …
Persistent link: https://www.econbiz.de/10014036197
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/10012711004
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
, it is not the consequence of a stronger level of reciprocity by agents, but of the retrenchment of sanctioning options on …
Persistent link: https://www.econbiz.de/10009526176
, it is not the consequence of a stronger level of reciprocity by agents, but of the retrenchment of sanctioning options on …
Persistent link: https://www.econbiz.de/10009533989
, it is not the consequence of a stronger level of reciprocity by agents, but of the retrenchment of sanctioning options on …
Persistent link: https://www.econbiz.de/10013108598
, it is not the consequence of a stronger level of reciprocity by agents, but of the retrenchment of sanctioning options on …
Persistent link: https://www.econbiz.de/10009737428
What determines reciprocity in employment relations? We conducted a controlled field experiment to measure the extent … reciprocity if the employer invests more time and effort into the gift's presentation. -- field experiment ; reciprocity ; gift …
Persistent link: https://www.econbiz.de/10008991365
exchange ; reciprocity …
Persistent link: https://www.econbiz.de/10009722410
Under relative performance pay, other-regarding workers internalize the negative externality they impose on other workers. In one form -increased own effort reduces others' payoffs- this results in other-regarding individuals depressing efforts. In another form punishment reduces the payoff of...
Persistent link: https://www.econbiz.de/10010224781