contract framing effect in either condition: effort provision is statistically indistinguishable under bonus and penalty … treatments subjects know at the time of effort provision whether they have achieved the bonus / avoided the penalty. In another …

increasingly been headline daily news. In the present paper, a principal-agent model is applied to argue that the impatience of a …

information operate as information-forcing, penalty default rules. Informed buyers are not required to disclose their positive …

. By exploiting the real-option approach, we examine how the inability to force sellers to meet the contract time … when the contract does not provide for any compensation for late-delivery. -- Public Procurement ; Fixed-Price Contracts …

. By exploiting the real-option approach, we examine how the inability to force sellers to meet the contract time … when the contract does not provide for any compensation for late-delivery …

An outside stakeholder’s commitment to bail out a levered investment fund mightencourage the fund manager to take … extreme risks. But what if the bailout were harsh?The loan would have a penalty rate and the manager would have to sacrifice …

underlying payoffs are identical. However, loss aversion also predicts that workers will demand higher wages to accept penalty … find evidence for the predicted distaste for penalty contracts. In four experiments penalty framing actually increased the … job offer acceptance rate relative to bonus framing. I rule out a number of explanations, most notably self …

underlying payoffs are identical. However, loss aversion also predicts that workers will demand higher wages to accept penalty … find evidence for the predicted distaste for penalty contracts. In four experiments penalty framing actually increased the … job offer acceptance rate relative to bonus framing. I rule out a number of explanations, most notably self …