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Should principals explain and justify their evaluations? Suppose the principal's evaluation is private information, but she can provide justification by sending a costly cheap-talk message. If she does not provide justification, her message space is restricted, but the message is costless. I...
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Consider a three-tier industry with a monopolist supplying an essential input to a manufacturer, which in turn sells its product to final consumers through two differentiated retailers. Throughout the supply chain, contracts are linear and secret. In this setting, upon receiving an...
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This report presents a review of current practices on the disclosure of information on Public-Private Partnership (PPP …-private contracting. The objective of this review is to present emerging practices on the disclosure of information on PPP projects and … transparency. In addition PPPs may require considerations and approaches to disclosure not present in publicly-executed projects …
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. Contract information is now accessible not only to current and prospective donors, but also to rival nonprofit organizations … competing for donations in the fundraising market. Our aim is to investigate the impact of publicly available contract … information on fundraising competition of nonprofit organizations. We argue that, although such provision makes contract …
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about the asset? How do the disclosure rules of contract law influence the investigation decision? Shavell (1994) showed … rule, which requires disclosure of material information, but only after the contract is concluded. We show that this rule … can be more efficient than both voluntary disclosure and mandatory (pre-contract) disclosure …
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Workers do not directly observe their output in many organizational settings. Employers benefit from this, as a less informed worker is cheaper to motivate to repeatedly exert effort. In this environment, monitoring a worker's output is costly if it informs him of his own performance and, thus,...
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