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paper focuses on the incentives of private parties to make these offers to begin with. We consider a model where sole …
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The operating agreements of many business ventures include clauses to facilitate the exit of joint owners. In so-called Texas Shootouts, one owner names a single buy-sell price and the other owner is compelled to either buy or sell shares at that named price. Despite their prevalence in...
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paper focuses on the incentives of private parties to make these offers to begin with. We consider a model where sole …
Persistent link: https://www.econbiz.de/10014071266
The operating agreements of many business ventures include clauses to facilitate the exit of joint owners. In so-called Texas Shootouts, one owner names a single buy-sell price and the other owner is compelled to either buy or sell shares at that named price. Despite their prevalence in...
Persistent link: https://www.econbiz.de/10014209385
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tradeoff between risk and incentives. Subjects in our experiments choose their compensation for performing a real-effort task … rate contracts in the presence of output risk, and provide novel insights that reference dependent preferences affect the … from a menu of linear piece rate and fixed payment combinations. As classical principal-agent models predict, more risk …
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