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I model the optimal semi-collusive strategy of firms using forward contracts in volatile markets. It has been shown that forward contracts can be used to stabilize a collusive agreement under deterministic (Liski and Montero, 2006) as well as under stochastic market conditions (Aichele, 2012)....
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This paper analyzes intertemporal effort provision in two-stage tournaments. A principal with a fixed budget for prizes faces two risk-neutral agents. He observes noisy signals of effort in both periods. His goal is to maximize either total efforts (perfect substitutes) or the product of first-...
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history of performance. With implicit incentives, influence perceptions and effort incentives decrease over time. Rotating … also reduces the time horizon, and thus reduces rents from working and also incentives. In this trade-off, we derive …
Persistent link: https://www.econbiz.de/10010489899
. Simulation of several reform scenarios shows that a stronger emphasis on financial incentives in the pension system (the …
Persistent link: https://www.econbiz.de/10010483218