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While some argue that incomplete incentive contracts facilitate the self-enforcement of informal dealings, other authors submit that they substitute for or "crowd out" social norms supporting informal arrangements. We use experimental evidence to test these theories by manipulating the extent to...
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While some argue that incomplete incentive contracts facilitate the self-enforcement of informal dealings, other authors submit that they substitute for or 'crowd out' social norms supporting informal arrangements. We use experimental evidence to test these theories by manipulating the extent to...
Persistent link: https://www.econbiz.de/10014071069
When there are constantly new, valuable opportunities to transact with alternative partners a situation we refer to as exchange value uncertainty long-term or committed transactions among the same individuals are discouraged. But when opportunism creates exchange hazards, which escalate in...
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Empirical studies commonly confirm that small firms enjoy efficiency advantages in generating innovation. However, the origin of this advantage remains poorly understood. This study explores the hypothesis that small firms enjoy advantages over large firms in crafting effective,...
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