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Reputations, relationships and the enforcement of incomplete contracts

MacLeod, W. Bentley - 2006

incomplete contract. It is shown that the efficiency of these solutions is very sensitive to the characteristics of the good or …

Persistent link: https://www.econbiz.de/10010267674

Testing canonical tournament theory: On the impact of risk, social preferences and utility structure

Sheremeta, Roman M.; Wu, Steven Y. - 2012

We use experiments to test comparative statics predictions of canonical tournament theory. Both the roles of principal and agent are populated by human subjects, allowing us to test predictions for both incentive responses and optimal tournament design. Consistent with theory, we observed an...

Persistent link: https://www.econbiz.de/10010282234

Delegation of Authority as an Optimal (In)complete Contract

Roider, Andreas - 2004

consider a hold-up framework where both parties profit from an investment that raises the value of an asset. Delegation turns …) decisions have no investment-independent effect. If overinvestment might be an issue, delegation, however, with restricted …

Persistent link: https://www.econbiz.de/10010262045

Control rights in public-private partnerships

Francesconi, Marco; Muthoo, Abhinay - 2006

impurity is very low as long as one party's investment is more important than the other party's. If the parties' investments …

Persistent link: https://www.econbiz.de/10010268030

What Do Unions Do for Economic Performance?

Hirsch, Barry T. - 2003

in the U.S. private sector affect economic performance - productivity, profitability, investment, and growth. Freeman and … investment and, subsequently, lower employment and productivity growth. There is little evidence that unionization leads to …

Persistent link: https://www.econbiz.de/10010261606

Equilibrium Unemployment and Investment Under Product and Labour Market Imperfections

Kauppi, Heikki; Koskela, Erkki; Stenbacka, Rune - 2004

We study the implications of product market competition and investment for price setting, wage bargaining and thereby …

Persistent link: https://www.econbiz.de/10010261822

Capital Accumulation and Growth : A New Look at the Empirical Evidence

Schiantarelli, Fabio; Leblebicioglu, Asli; Bond, Steve - 2004

We present evidence that an increase in investment as a share of GDP predicts a higher growth rate of output per worker … coefficients. They are robust to model specifications and estimation methods. The evidence that investment has a long-run effect on …

Persistent link: https://www.econbiz.de/10010261921

Dynamics of Labour and Capital Adjustment : A Comparison of Germany and the Netherlands

Polder, Michael; Verick, Sher - 2004

dynamics as investment conditions are similar. Our results are consistent with this hypothesis. Furthermore, there is no …

Persistent link: https://www.econbiz.de/10010261963

Holdup in oligopsonistic labour markets: a new role for the minimum wage

Kaas, Leo; Madden, Paul - 2006

competitors. Because workers participate in the returns on investment while only firms bear the costs, investment is inefficiently … low. A binding minimum wage can achieve the first-best level of investment, both in the short run for a given number of …

Persistent link: https://www.econbiz.de/10010267488

Banks and innovation: microeconometric evidence on Italian firms

Benfratello, Luigi; Schiantarelli, Fabio; Sembenelli, … - 2006

banking development reduces the cash flow sensitivity of fixed investment spending, particularly for small firms, and that it …

Persistent link: https://www.econbiz.de/10010267494