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Expectation damages and bilateral cooperative investments

Gollery, Daniel - 2012

investment by a buyer and a seller. Contracts may specify a required quality level and an upper bound to the cost of production … damages ; Cadillac contracts ; incomplete contracts ; cooperative investments …

Persistent link: https://www.econbiz.de/10009671789

Efficient contracting and fair play in a simple principal-agent experiment

Anderhub, Vital; Gächter, Simon; Königstein, Manfred - 1999

evidence on offered contracts and effort choices in a simple agency game. In line with principal-agent theory we find that in … our experiments many contracts proposed by principals are 'incentive compatible' and most agents behave optimally given … contracts' and that (ii) given acceptance, their effort choices are to some extent driven by reciprocity. It seems that contract …

Persistent link: https://www.econbiz.de/10009581090

Psychological foundations of incentives

Fehr, Ernst; Falk, Armin - 2002

During the last two decades economists have made much progress in understanding incentives, contracts and organisations …

Persistent link: https://www.econbiz.de/10011409795

Psychological foundations of incentives

Fehr, Ernst; Falk, Armin - 2002

During the last two decades economists have made much progress in understanding incentives, contracts and organisations …

Persistent link: https://www.econbiz.de/10011411627

Can reputation discipline the gig economy? : experimental evidence from an online labor market

Benson, Alan; Sojourner, Aaron J.; Umyarov, Akhmed - 2015

In two experiments, we examine the effects of employer reputation in an online labor market (Amazon Mechanical Turk) in which employers may decline to pay workers while keeping their work product. First, in an audit study of employers by a blinded worker, we find that working only for good...

Persistent link: https://www.econbiz.de/10011387537

Early Contract Renegotiation : An Analysis of U.S. Labor Contracts from 1970 to 1995

Rich, Robert W. - 2012

This paper examines the ex post flexibility of U.S. labor contracts during the 1970-95 period by investigating whether … episodes of increased inflation uncertainty, our results suggest that these contracts are flexible both ex ante and ex post to …

Persistent link: https://www.econbiz.de/10013113913

Efficiency and Fairness in Revenue Sharing Contracts

Karakostas, Alexandros - 2014

being fair in the Paretian sense that on average agents are not worse off than in the other contracts. Furthermore, the … distribution of earnings is only mildly skewed towards the principal. We conclude that under revenue sharing contracts concerns for …

Persistent link: https://www.econbiz.de/10013064172

Double-Sided Moral Hazard in Job Displacement Insurance Contracts

Parsons, Donald O. - 2014

Job displacement insurance typically includes both unemployment benefits and lump-sum severance pay, and each has provoked policy concerns. Unemployment insurance concerns have centered on distorted job search/offer acceptance decisions by the worker, severance-induced firing cost concerns on...

Persistent link: https://www.econbiz.de/10013067317

Contract Compliance Under Biased Expectations

Grosch, Kerstin - 2020

Contract compliance is key for economic growth. However, determinants affecting contract breach are not yet well understood. In this paper, we focus on contract situations with a potential hold-up problem, such as contract farming agreements which are prevalent in many developing countries. We...

Persistent link: https://www.econbiz.de/10012836375

Overtime Working and Contract Efficiency

Hart, Robert A. - 2019

We present a wage-hours contract designed to minimize costly turnover given investments in specific training combined with firm and worker information asymmetries. It may be optimal for the parties to work ‘long hours' remunerated at premium rates for guaranteed overtime hours. Based on...

Persistent link: https://www.econbiz.de/10012905336