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Governance of Adjustments
Wernerfelt, Birger - 2003
The article proposes a research program to compare game forms in terms of their ability to govern ex post adjustments to ex ante contracts. The comparisons can be based on direct implementation-costs or the extent to which desirable adjustments are not implemented. In several examples of the...
Persistent link: https://www.econbiz.de/10014031253
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Governance of adjustments
Wernerfelt, Birger - In: The journal of business : B 77 (2004) 2,Suppl., pp. S3-S24
Persistent link: https://www.econbiz.de/10002095305
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Empirical Effects of Performance Contracts : Evidence from China
Shirley, Mary M. - 2010
Performance contracts (PCs) - contracts signed between the government and state enterprise managers - have been used widely in developing countries. China's experience with such contracts was one of the largest experiments with contracting in the public sector, affecting hundreds of thousands of...
Persistent link: https://www.econbiz.de/10012761938
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Empirical Effects of Performance Contracts : Evidence from China
Shirley, Mary M.; Xu, Lixin Colin - 2010
Performance contracts (PCs) -- contracts signed between the government and state enterprise managers -- have been used widely in developing countries. China's expertise with such contracts was one of the largest experiments with contracting in the public sector, affecting hundreds of thousands...
Persistent link: https://www.econbiz.de/10014141103
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Robust Incentive Contracts
Wernerfelt, Birger - 2007
ante, we compare two contracting regimes; one with commitment to an ex ante negotiated contract, and one with an ex interim … negotiated contract. The ex ante contract can not have too strong incentives, but attempts to negotiate a stronger ex interim … contract may result in bargaining failure. The relative efficiency of the two contracting regimes therefore depends on …
Persistent link: https://www.econbiz.de/10014029266
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Designing Contracts for Complex Services
Malatesta, Deanna - 2015
perspective relevant to understanding contract design? Examining 130 professional service contracts awarded by state government … better understand contract governance …
Persistent link: https://www.econbiz.de/10013036639
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The value of decentralization using the blockchain
Reuter, Marco - 2022
Although blockchain technology and cryptocurrencies have grown in popularity over the past years, there does not seem to be a consensus if they bring any value to economic interactions. In this paper, I argue that a fundamental value the blockchain provides is commitment. I develop a model of an...
Persistent link: https://www.econbiz.de/10013460355
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Chapter 9. Governance and Stakeholders
Mehrotra, Vikas; Morck, Randall - 2017
Economic models routinely assume firms maximize shareholder wealth; however common law legal systems only require that officers and directors pursue the interests of the corporation, leaving this ill-defined. Economic arguments for shareholder wealth maximization derived from shareholders'...
Persistent link: https://www.econbiz.de/10014023372
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Promise, trust and betrayal : costs of breaching an implicit contract
Levy, Daniel C.; Young, Andrew T. - 2020
Persistent link: https://www.econbiz.de/10012317594
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Promise, trust and betrayal: costs of breaching an implicit contract
Levy, Daniel C.; Young, Andrew T. - 2020 - Last revision: November 20, 2020
We study the cost of breaching an implicit contract in a goods market. Young and Levy (2014) document an implicit … contract between the Coca-Cola Company and its consumers. This implicit contract included a promise of constant quality. We … followed New Coke's introduction was a response to the implicit contract breach. …
Persistent link: https://www.econbiz.de/10012319210