show how the law of insurance contracts should allow insurers to incentivize policyholders to exert an adequate level of … that hardly explains the many features of an insurance contract. We extend this setup to include the situation that the …

development. Tournament-based contracts can be very effective in eliciting high effort, often outperforming other compensation … contracts, but they can also have negative consequences for both managers and workers. The benefits and disadvantages of …

The paper studies competition for the market in a setting where incumbents (and, to a lesser extent, neighboring …