The following is a model of psychological contracting with unmonitorable performance, implicit offers, and screening for non-performance by the announcement of the expectation of performance. It is motivated by the $250 billion prescription drug industry, which spends $19 billion per year on...

The following is a model of psychological contracting with unmonitorable performance, implicit offers, and screening for non-performance by the announcement of the expectation of performance. It is motivated by the $250 billion prescription drug industry, which spends $19 billion per year on...

The following is a model of psychological contracting with unmonitorable performance, implicit offers, and screening for non-performance by the announcement of the expectation of performance. It is motivated by the $250 billion prescription drug industry, which spends $19 billion per year on...

Lignite mine and power plant can operate as two separate entities, two entities in one holding or joint venture and as the one vertically integrated energy producer. Each of these solutions has the influence on operation of this tandem including realization of its individual and joint...

Gifts are often used where the institutions of contracting do not exist, or are underdeveloped, as in emerging markets, or otherwise unenforceable, as with illicit transactions in developed markets. The following is an analysis of gifts in the context of belief preferences with unobservable...

The application of Nash bargaining solution to profit division in negotiation between opencast lignite mine and power plant has been discussed. Different proposals of status quo point usage and ways of its determination for profit sharing both in strategic and tactical/operational negotiation...

We consider an adverse selection model in which the agent can gather private information before the principal offers the contract. There are two scenarios. In scenario I, information gathering is a hidden action, while in scenario II, the principal observes the agent's information gathering...

Principal-agent models in which the agent has access to private information before a contract is signed are a cornerstone of contract theory. We have conducted an experiment with 720 participants to explore whether the theoretical insights are reflected by the behavior of subjects in the...

Different structures of lignite mines and power stations, which have appeared on the Polish market as a result of its transformation and the privatisation, were discussed. The attention is focused on the fact that the practice is overtaking the theory because there is lack of models of...

For methods of the profit division in the bilateral monopoly of the mine and the power station sug-gested in the first part of this paper the formulae for lignite price and shares in the joint profit of the mine and the power station are calculated. The proposed profit division contain: the...