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Competition, Hidden Information and Efficiency : An Experiment
Cabrales, Antonio - 2006
We devise an experiment to explore the effect of different degrees of competition on optimal contracts in a hidden … principals. We first show theoretically how these different degrees of competition affect outcomes and efficiency. Informational … relative number of agents because competition reduces the agents' informational monopoly power. However, this environment also …
Persistent link: https://www.econbiz.de/10012779356
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Optimal Contracts with Team Production and Hidden Information : An Experiment
Cabrales, Antonio; Charness, Gary - 2010
devise an experiment to explore optimal contracts in a hidden information context. A principal offers one of three possible …
Persistent link: https://www.econbiz.de/10014151603
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Optimal contracts, adverse selection and social preferences: An experiment
Cabrales, Antonio; Charness, Gary - Department of Economics and Business, Universitat … - 2000
experiment to explore optimal contracts in an adverse-selection context. A principal proposes one of three contract menus, each …
Persistent link: https://www.econbiz.de/10005772130
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Competition, Hidden Information, and Efficiency: an Experiment
Cabrales, Antonio; Charness, Gary; Villeval, Marie-Claire - Groupe d'Analyse et de Théorie Économique Lyon … - 2006
We devise an experiment to explore the effect of different degrees of competition on optimal contracts in a hidden … principals. We first show theoretically how these different degrees of competition affect outcomes and efficiency. Informational … relative number of agents because competition reduces the agents’ informational monopoly power. However, this environment also …
Persistent link: https://www.econbiz.de/10005086286
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Competition, Hidden Information and Efficiency: An Experiment
Cabrales, Antonio; Charness, Gary; Villeval, Marie-Claire - Institute for the Study of Labor (IZA) - 2006
We devise an experiment to explore the effect of different degrees of competition on optimal contracts in a hidden … principals. We first show theoretically how these different degrees of competition affect outcomes and efficiency. Informational … relative number of agents because competition reduces the agents’ informational monopoly power. However, this environment also …
Persistent link: https://www.econbiz.de/10005703707
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Competition, hidden information and efficiency : an experiment
Cabrales, Antonio (contributor); Charness, Gary (contributor) - 2006
"We devise an experiment to explore the effect of different degrees of competition on optimal contracts in a hidden … principals. We first show theoretically how these different degrees of competition affect outcomes and efficiency. Informational … relative number of agents because competition reduces the agents' informational monopoly power. However, this environment also …
Persistent link: https://www.econbiz.de/10003373398
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Competition, hidden information, and efficiency : an experiment
Cabrales, Antonio (contributor); Charness, Gary (contributor) - 2007
Persistent link: https://www.econbiz.de/10003573529
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Promises & Partnership
Charness, Gary; Dufwenberg, Martin - Nationalekonomiska institutionen, Stockholms Universitet - 2003
We examine, experimentally and theoretically, how communication within a partnership may mitigate the problem (highlighted in contract theory) of hidden action. What is the form and content of the communication? Which model of decision-making can capture the impact of communication? We consider...
Persistent link: https://www.econbiz.de/10005645507
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Strategic incomplete contracts : theory and experiments
Erkal, Nisvan; Wu, Steven Y.; Roe, Brian - 2014
We develop a model of strategic contractual incompleteness that identifies conditions under which principals might omit even costlessly verifiable terms. We then use experiments to test comparative statics predictions of the model. While it is well known that verifiability imperfections can...
Persistent link: https://www.econbiz.de/10010457849
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Intention and Stochastic Outcomes : An Experimental Study
Charness, Gary; Levine, David I. - 2006
Do people care about intentions - even when good intentions do not produce good results? In our experiments we find that rates of punishment and reward react strongly to intentions (the wage a firm decides to pay) and more modestly to distributional outcomes (the higher or lower wage actually...
Persistent link: https://www.econbiz.de/10014075734