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incomplete contract theory. We use the framework of Aghionand Tirole (1997) and define the managerial control structure as …
Persistent link: https://www.econbiz.de/10010325682
We provide evidence that long-term relationships between trading parties emerge endogenously in the absence of third party enforcement of contracts and are associated with a fundamental change in the nature of market interactions. Without third party enforcement, the vast majority of trades are...
Persistent link: https://www.econbiz.de/10010261611
. This is not caused by monetary incentives per se since under both wage schemes it is profit-maximizing for agents to exert …
Persistent link: https://www.econbiz.de/10010277484
incentives as well as the puzzling incompleteness of many economic contracts. …
Persistent link: https://www.econbiz.de/10010261958
each other. The contract may contain two types of incentives for the agent to work hard: a bonus and a threat of dismissal …
Persistent link: https://www.econbiz.de/10010326344
each other. The contract may contain two types of incentives for the agent to work hard: a bonus and a threat of dismissal …
Persistent link: https://www.econbiz.de/10010282065
. Our results are consistent with the theory of strategic ambiguity of Bernheim and Whinston (1998) and can be rationalized …
Persistent link: https://www.econbiz.de/10010268218
disproportionate contributions to environmental harms or bads. I further argue that a theory of justice, which will recognize this fact …Environmental justice has become a major issue in the discourses of environment. The calls for environmental equity and … justice are now part of major environmental negotiations like the UNFCCC and the Kyoto Protocol, to give some examples. In …
Persistent link: https://www.econbiz.de/10010319028
paper presents a model of killing versus enslaving Caesar, based on a new theory which unifies justice, status, and power … of societies - justice-nonmaterialistic, status, and power-nonmaterialistic. Results cover members' gains, effects of own … killed only in a justice-nonmaterialistic society, and from the noblest of motives - to achieve equal gains for members. …
Persistent link: https://www.econbiz.de/10010268571
implicitly assume that countries have a universal understanding of justice. But this assumption is rather questionable. With … regard to the existing cultural differences in the understanding of justice the transferability of elements of health care … systems is not always given. A transfer usually requires a thorough examination of the ideas of justice in each country. This …
Persistent link: https://www.econbiz.de/10010300530