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Implicit Contracts, Incentive Compatibility, and Involuntary Unemployment: Thirty Years On
MacLeod, W. Bentley; Malcomson, James - 2023
with reflections on the future of relational contract theory and practice. …
Persistent link: https://www.econbiz.de/10014296625
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Relational Incentive Contracts
Malcomson, James - Department of Economics, Oxford University - 2010
This chapter reviews the literature on the theory of relational incentive contracts.  It motivates the discussion by the classic applications of relational contracts to the GM-Fisher Body relationship and the relationships between Japanese automobile manufacturers and their subcontractors.  It...
Persistent link: https://www.econbiz.de/10008671389
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Implicit contracts, incentive compatibility, and involuntary unemployment : thirty years on
MacLeod, William Bentley; Malcomson, James M. - In: Journal of institutional and theoretical economics : JITE 179 (2023) 3/4, pp. 470-499
Persistent link: https://www.econbiz.de/10014487018
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Implicit Contracts, Incentive Compatibility, and Involuntary Unemployment : Thirty Years on
MacLeod, William Bentley; Malcomson, James M. - 2023
with reflections on the future of relational contract theory and practice …
Persistent link: https://www.econbiz.de/10014254947
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Renegotiation of long‐term contracts as part of an implicit agreement
Kostadinov, Rumen - In: Theoretical economics : TE ; an open access journal in … 16 (2021) 4, pp. 1471-1512
contract renegotiation is a powerful tool for incentive provision, despite the stationarity of the environment. Continuation …
Persistent link: https://www.econbiz.de/10012806553
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Reciprocity in dynamic employment relationships
Fahn, Matthias - 2019
This paper explores how a relational contract establishes a norm of reciprocity and how such a norm shapes the … provision of informal incentives. Developing a model of a long-term employment relationship, I show that generous upfront wages … incentives promising a bonus in exchange for effort are more effective. Then, a longer remaining time horizon increases the …
Persistent link: https://www.econbiz.de/10012002999
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Reciprocity in dynamic employment relationships
Fahn, Matthias - 2019
This paper explores the optimal provision of dynamic incentives for employees with reciprocal preferences. Building on … the presumption that a relational contract can establish a norm of reciprocity, I show that generous upfront wages that … his career. I also show that more competition might magnify the use of reciprocity-based incentives, and that a formal …
Persistent link: https://www.econbiz.de/10012126237
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The provision of wage incentives : A structural estimation using contracts variation
D'Haultfœuille, Xavier; Février, Philippe - In: Quantitative economics : QE ; journal of the … 11 (2020) 1, pp. 349-397
, we exploit an exogenous change in the contract structure in 2003, the piece rate increasing from 20.2 to 22.9 euros. We …
Persistent link: https://www.econbiz.de/10012202372
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Contracting to Dis-Incentivize
Lo, Desmond (Ho-Fu); Zanarone, Giorgio; Ghosh, Mrinal - 2018
Research on collaborative ties in business markets has pre-dominantly studied how governance forms balance potential gains and transaction hazards within the relationship. Using an incomplete contracting approach, we examine how the OEM trades off gains obtained within the relationship with its...
Persistent link: https://www.econbiz.de/10014035550
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The 2016 Nobel Memorial Prize in contract theory
Schmidt, Klaus M. - 2017
Nobel for their fundamental contributions to contract theory. This article offers a short summary and discussion of their …
Persistent link: https://www.econbiz.de/10011626725