Implicit contracts can mitigate moral hazard in labor, credit and product markets. The enforcement mechanism underlying an implicit contract is the threat of exclusion: the agent fears that he will lose future income if the principal breaks off the relationship. This threat may be very weak in...

We investigate the impact of empathy and impulsiveness on charitable giving using a real donation experiment. We confirm that greater empathy predicts greater charitable giving. Contrary to recent literature, however, we find a significant negative relationship between impulsiveness and donation...