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We study whether allowing players to sign binding contracts governing future play leads to reputation effects in …, whether reputation effects emerge in repeated games with contracts depends on details of the prior distribution over …
Persistent link: https://www.econbiz.de/10010573642
In this paper I demonstrate the existence an initial incomplete contract that can subsequently be renegociated to the set of first best allocations in a fairly geneal principal-agent model when the state space is continuous.
Persistent link: https://www.econbiz.de/10005225378
In this paper I demonstrate the existence an initial incomplete contract that can subsequently be renegociated to the set of first best allocations in a fairly geneal principal-agent model when the state space is continuous.
Persistent link: https://www.econbiz.de/10005638888
In this paper a stylized labour contarct model is constructed where it is shown that when contracts are enforced by a … amended by assuming that the court uses an at-will rule to enforce contracts. …
Persistent link: https://www.econbiz.de/10005638901
In this paper a stylized labour contarct model is constructed where it is shown that when contracts are enforced by a … amended by assuming that the court uses an at-will rule to enforce contracts. …
Persistent link: https://www.econbiz.de/10005748028
Persistent link: https://www.econbiz.de/10005775628
Persistent link: https://www.econbiz.de/10005572155
In real markets, price adjustment and the matching of buyers and sellers involve considerable exchange of information …
Persistent link: https://www.econbiz.de/10005634425
Persistent link: https://www.econbiz.de/10005780423
Existing theories typically focus on asymmetric information to explain delays in bargaining. This is not always … surplus; contracts are incomplete; and the parties are wealth constrained. …
Persistent link: https://www.econbiz.de/10005574851