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) producing consensus about the facts relevant to a transaction, (2) coding contracts, and (3) autonomously executing transactions …
Persistent link: https://www.econbiz.de/10012214932
state of the world is realized? I show that simple long-term contracts perform better than insinuated in Herweg and Schmidt … performance of long-term contracts. Specific performance contracts perform better than in Herweg and Schmidt but are still … problematic. Option contracts perform much better since only one party has the ex-post trade decision making it much easier to …
Persistent link: https://www.econbiz.de/10012542436
state of the world has realized? I show that simple long-term contracts perform better than insinuated in Herweg and Schmidt … the performance of long-term contracts. Specific performance contracts perform better than in Herweg and Schmidt but are … still problematic since one can not always prevent that the contract is enforced when it should not. Option contracts …
Persistent link: https://www.econbiz.de/10012435543
' control over employees and the content of employment contracts. …
Persistent link: https://www.econbiz.de/10012268393
We study a credence goods problem - that is, a moral hazard problem with non-contractible outcome - where altruistic experts (the agents) care both about their income and the utility of consumers (the principals). Experts' preferences over income and their consumers' utility are convex, such...
Persistent link: https://www.econbiz.de/10012431181
I present a novel experimental design to measure lying and mistrust as continuous variables on an individual level. My experiment is a sender-receiver game framed as an investment game. It features two players: firstly, an advisor with complete information (i.e., the sender) who is incentivized...
Persistent link: https://www.econbiz.de/10012424302
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The most popular virtual currency (bitcoin) has become so popular because it relies on the concept of Distributed Ledger, realized by means of a technology known as BlockChain. This technology removes the need for third parties (such as authorities) that authorize transactions; in fact, it is a...
Persistent link: https://www.econbiz.de/10012221836
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