Piece-rate compensation schemes, where workers are paid for each completed task regardless of the time spent on it, are common in practice. Detecting a potential negative impact on firm performance associated with their use adds to the literature on challenges of piece-rate compensation schemes....

We consider a decentralized supply chain consisting of a supplier and a retailer facing price- and lead-time-sensitive demand. The decision process is modelled by a Stackelberg game where the supplier, as a leader, determines the capacity and the wholesale price, and the retailer, as a follower,...

Recent cases of product adulteration by foreign suppliers have compelled many manufacturers to rethink approaches to deterring suppliers from cutting corners, especially when manufacturers cannot fully monitor and control the suppliers' actions. In this paper, we study three mechanisms for...

Economic systems produce robust statistical patterns in key sate variables including prices and incomes. Statistical equilibrium methods explain the distributional proper- ties of state variables as arising from specific institutional and behavioral postulates. Two traditions have developed in...