We propose a theory of ex post inefficient renegotiation that is based on loss aversion. When two parties write a long-term contract that has to be renegotiated after the realization of the state of the world, they take the initial contract as a reference point to which they compare gains and...

We consider a simple trading relationship between an expectation-based loss-averse buyer and profit-maximizing sellers. When writing a long-term contract the parties have to rely on renegotiations in order to ensure materially efficient trade ex post. The type of the concluded long-term contract...

We propose a theory of inefficient renegotiation that is based on loss aversion. When two parties write a long-term contract that has to be renegoti- ated after the realization of the state of the world, they take the initial contract as a reference point to which they compare gains and losses...

We implement a laboratory experiment in which a principal has to decide on monitoring intensity and pay to investigate whether they are complements or substitutes. Wage level, monitoring intensity, and consequently the desired enforceable effort level are jointly determined by the maximization...

This paper examines job polarization at the level of local labor markets in Germany over a 30-year period. The major explanation of job polarization is skill biased technological change (SBTC): new technologies are complementary to high paying jobs but substitute workers in routine manual jobs...

Vieles von dem, was die Fähigkeiten und das Wissen einer Person ausmacht, wurde nicht in Schulen oder Institutionen erworben und ist auch nicht zertifiziert. "Der Erfahrung einen Wert geben! Neue Wege in den Gesundheits- und Sozialberufen" war daher der Titel einer Fachtagung der Abteilung...

Mit dem Band "Qualifikationsbedarf der Zukunft I - Früherkennung und Darstellung von Qualifikationsbedarf " legt das AMS Österreich im Rahmen der Publikationsreihe AMS report einen Sammelband vor, der - ausgehend von der Fachtagung "Qualifikationsbedarf der Zukunft - Prognoseinstrumente und...