, competition does not eliminate but rather exacerbates inefficiencies arising from contracting with focused agents. Common contract …

derive the optimal contract for both experimentation and production when the agent has private information about his … asymmetric information is endogenously determined by the length of the experimentation stage. An optimal contract uses the length …

performance measures. We show that such an index contract may indeed be optimal if performance measures are non-verifiable so that … measurements), the optimal self-enforcing (relational) contract between a principal and a multitasking agent is an index contract …. The weights reflect a trade-off between distortion and precision for the measures. The efficiency of the contract improves …

consumer electronics, and club memberships. We demonstrate that consumption is affected by contract structure (pay-peruse vs …. We also measure subjects' willingness to pay for a contract with free access units, and we find that nearly half of … strategy is therefore to offer a contract that pre-sells access units at a very small discount; this strategy increases revenue …

adapt to exogenous shocks. Specifically, we test the hypothesis that basing a relational contract on general principles … actions that are consistent with what their relational contract prescribes. To investigate whether there is a causal link …

Trust between parties should drive the negotiation and design of contract: if parties did not trust each others … over time, we find that lower trust increases contract completeness. Not only contract complexity but also the verifiable …