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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/10011105069
"Implicit Contracts, incentive compatibility, and involuntary unemployment" (MacLeod and Malcomson, 1989) remains our most highly cited work. We briefly review the development of this paper and of our subsequent related work, and conclude with reflections on the future of relational contract...
Persistent link: https://www.econbiz.de/10014296625
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/10010481610
The global distribution of talent is highly skewed and the resources available to countries to develop and utilize their best and brightest vary substantially. The migration of skilled workers across countries tilts the deck even further. Using newly available data, we first review the landscape...
Persistent link: https://www.econbiz.de/10011584643
Pie-Expansion, Pie-Sharing und Opportunismus -- Automobilhersteller, Abnehmer und Lieferanten -- Lieferanten-Abnehmer Entwicklungspartnerschaften -- Lieferantenbewertung und -auswahl -- Lieferantenentwicklung und -integration
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empirically, about the properties of charity auctions. The small theoretical literature suggests that the all-pay auction should … by the first price auction. Our design also allows us to identify differential participation as the source of the …
Persistent link: https://www.econbiz.de/10010271934
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