information of local jurisdictions. Contractual federalism is defined as a strategy-proof contract among the members of the …

's (1976) model of competitive insurance. I allow for stochastic contract offers by insurance firms and show that a unique …

. According to standard results in contract theory an optimal incentive contract should be conditional on all verifiable … on few contingencies and often no explicit contract is signed at all. This paper argues that the proposal of a … sophisticated complete contract including fines for misbehavior and other explicit incentives signals distrust to the partner. A …

important concepts of organizational economics and contracting. In a first part, students take the role of a principal and … design a contract that consists of a fixed payment and an incentive component. In the second part, students take the role of … contracting …

We study contracting when both principal and agent have to exert noncontractible effort for production to take place …. An analyst is uncertain about what actions are available and evaluates a contract by the expected payoffs it guarantees …