Two types of contractual solutions have been proposed for resolving incentive conflicts in vertical relationships: formal and relational (i.e., enforceable or not by third parties). Much is known about the optimal structure of formal contracts, but relatively little is known about the structure...

Using an original data set matching individual birthdays to Vietnam War draft lottery numbers, I study how wartime draft risk affects representation in a sample of top corporate executives decades after the war's end. I find that men with lottery numbers placing them at risk of induction are...

I study the impact of internal migration in Germany after the fall of the Berlin Wall on wages and employment in western German local labor markets. I use a novel strategy to control for the endogeneity of migrants’ destination choice, instrumenting observed migration with characteristics of...

We identify and test a specific psychological mechanism underlying cross-national differences in preferences for performance-based versus redistributive compensation systems. We posit that individuals’ beliefs in the inherent justness and deservedness of individual outcomes (i.e., just world...