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This paper investigates relational incentive contracts with continuous, privately-observed agent types that are persistent over time. With fixed agent types, full separation is not possible when continuation equilibrium payoffs following revelation are on the Pareto frontier of attainable...
Persistent link: https://www.econbiz.de/10011307127
Persistent link: https://www.econbiz.de/10011552234
This paper investigates relational incentive contracts with continuous, privately-observed agent types that are persistent over time. With fixed agent types, full separation is not possible when continuation equilibrium payoffs following revelation are on the Pareto frontier of attainable...
Persistent link: https://www.econbiz.de/10011300994
Persistent link: https://www.econbiz.de/10011385976
Persistent link: https://www.econbiz.de/10012596566
Vocational training systems differ markedly between countries. A model of firm-based human capital investment predicts … general and specific investment may occur, but turnover is low and wage profiles are relatively flat. Multiple equilibria are …
Persistent link: https://www.econbiz.de/10011004405
This paper examines the relationship between firm-specific training and product market competition. A canonical Cournot competition model shows that the profitability of training investments increases as the number of competitors decreases. Empirical evidence from British establishments in 1998,...
Persistent link: https://www.econbiz.de/10010901489
Persistent link: https://www.econbiz.de/10008596124
positively with the level of capital investment. …
Persistent link: https://www.econbiz.de/10010262279
(comprising United Kingdom, Ireland, Netherlands and Sweden) regarding the relationship between investment in employee training …, productivity, net profitability etc. Although the link between investment in human capital and company's performances is evident …, the reciprocal connection - between companies' investment activities and skills of employees was pointed out. …
Persistent link: https://www.econbiz.de/10014496746