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Business culture : the role of personal and impersonal business relationships on market efficiency
Muñoz-Herrera, Manuel; Reuben, Ernesto - 2019
In this paper, we study the effects of business culture on market efficiency. We exogenously vary the type of business culture between business-is-business cultures, which consist on impersonal relationships where financial matters are paramount, and business-is-family cultures, which comprise...
Persistent link: https://www.econbiz.de/10012022699
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Indenture as a self-enforced contract device: an experimental test
Kritikos, Alexander S.; Tan, Jonathan H. W. - 2009
agent receives the completing half after delivering the service. By forward induction, cooperation is incentive …-compatibly self-enforcing. The indenture performs very well, inducing a significantly higher level of cooperation than that in a three …-stage centipede game, which we use to benchmark the natural rate of cooperation. The difference between cooperation rates in both …
Persistent link: https://www.econbiz.de/10010276832
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Can contracts signal social norms? : experimental evidence
Danilov, Anastasia; Sliwka, Dirk - 2013
We investigate whether incentive schemes signal social norms and thus affect behavior beyond their direct economic consequences. A principal-agent experiment is studied in which prior to contract choice principals are informed about past actions of other agents and thus have more information...
Persistent link: https://www.econbiz.de/10009765609
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Reference points, social norms, and fairness in contract renegotiations : conference paper
Bartling, Björn; Schmidt, Klaus M. - 2013
Do contracts provide reference points that affect ex post behavior? We address this question in a canonical buyer-seller relationship with renegotiation. Our paper provides causal experimental evidence that an initial contract has a highly significant and economically important impact on...
Persistent link: https://www.econbiz.de/10010342843
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Psychological foundations of incentives
Fehr, Ernst; Falk, Armin - 2002
During the last two decades economists have made much progress in understanding incentives, contracts and organisations. Yet, they constrained their attention to a very narrow and empirically questionable view of human motivation. The purpose of this paper is to show that this narrow view of...
Persistent link: https://www.econbiz.de/10011409795
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Indenture as a Self-Enforced Contract Device: An Experimental Test
Kritikos, Alexander S.; Tan, Jonathan H. W. - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2009
"; the agent receives the completing half after delivering the service. By forward induction, cooperation is incentive …-compatibly self-enforcing. The indenture performs very well, inducing a significantly higher level of cooperation than that in a three …-stage centipede game, which we use to benchmark the natural rate of cooperation. The difference between cooperation rates in both …
Persistent link: https://www.econbiz.de/10005069044
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Let's Talk: How Communication Affects Contract Design
Brandts, Jordi; Charness, Gary; Ellman, Matthew - Barcelona Graduate School of Economics (Barcelona GSE) - 2012
shock and a discretionary buyer transfer. In the absence of communication, we find that rigid contracts are more frequent … and lead to higher earnings for both buyer and seller. By contrast, in the presence of communication, flexible contracts … considerably more from flexible with communication than rigid without communication. Our results show quite strongly that …
Persistent link: https://www.econbiz.de/10010851445
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Let's talk: How communication affects contract design
Brandts, Jordi; Charness, Gary; Ellman, Matthew - Departament d'Economia i Història Econòmica, … - 2012
shock and a discretionary buyer transfer. In the absence of communication, we find that rigid contracts are more frequent … and lead to higher earnings for both buyer and seller. By contrast, in the presence of communication, flexible contracts … considerably more from flexible with communication than rigid without communication. Our results show quite strongly that …
Persistent link: https://www.econbiz.de/10010554806
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Do non-enforceable contracts matter? : evidence from an international lab experiment
Cappelen, Alexander W.; Hagen, Rune Jansen; Sørensen, … - In: The review of income and wealth : journal of the … 60 (2014) 1, pp. 100-113
Persistent link: https://www.econbiz.de/10010457545
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Can contracts signal social norms? : experimental evidence
Danilov, Anastasia; Sliwka, Dirk - In: Management science : journal of the Institute for … 63 (2017) 2, pp. 459-476
Persistent link: https://www.econbiz.de/10011647365