We introduce opportunities for pre-play communication and to enter binding or non-binding contracts in trust games, and … find (a) communication increases trusting and trustworthiness, (b) contracts are unnecessary for trusting and trustworthy …

We let subjects interact with anonymous partners in trust (investment) games with and without one of two kinds of pre …-play communication: numerical (tabular) only, and verbal and numerical. We find that either kind of pre-play communication increases … trusting, trustworthiness, or both, in inter-subject comparisons, but that the inclusions of verbal communication generates …

prior to issuing additional debt. For realistic values of issuance costs and debt maturity, the no-commitment policy … generates tax benefits that are similar to those obtained by a benchmark policy with commitment. For positive but arbitrarily …

's choices with commitment or in the moment are "better". This impasse can be overcome in settings in which dynamically …

optimal contracts with and without commitment and derive an exclusion restriction that is useful to identify the relevant … commitment scenario. The empirical analysis takes advantage of a data set from Spanish soccer player contracts. Our test rejects … the commitment hypothesis, which entails the acceptance of the existence of contractual incompleteness in the data. We …

is driven by exogenous technology shocks. We first consider the commitment case, and characterize the Ramsey equilibrium … positively correlated with production. Then, we relax the commitment assumption, and we show how to determine numerically whether …, Commitment, Time-consistency, Ramsey equilibrium, Markov perfect equilibria, Sustainable equilibria. …

consumers from self-control and extracts consumers' commitment surplus. When some consumers are tempted by cheaper, lower …This paper studies optimal nonlinear pricing for a monopolist when consumers' preferences exhibit temptation and self-control … as in Gul and Pesendorfer (2001a). Consumers are subject to temptation inside the store but exercise self-control, and …

used as commitment devices when it is impossible to commit not to renegotiate them. We characterize renegotiation …