relationship is defined only by the allocation of responsibility via contingent contracts. Within this framework, we show that the …

relationship is defined only by the allocation of responsibility via contingent contracts. Within this framework, we show that the …

derive implications for legal policy, most theoretical papers, however, take public enforcement as exogenous, i.e. non-compliance … criminal behavior, self-disclosure, and policing. In this paper, we model corporate compliance as a three-person inspection … is more vulnerable to the reallocation of punishments by the agents through contracts or civil litigation. Moreover, we …

hazard context. Incentive contracts that are optimal when there are only selfish actors become inferior when some agents are … concerned about fairness. Conversely, contracts that are doomed to fail when there are only selfish actors provide powerful … why many contracts are left deliberately incomplete. …