We investigate how payoff-irrelevant terms can negatively impact relational contracts. In a lab experiment we compare two economically equivalent contracts – a fixed-term renewable and an open-ended at-will contract. Each contract provides partners with full flexibility regarding the length...

We investigate how payoff-irrelevant terms can negatively impact relational contracts. In a lab experiment we compare two economically equivalent contracts - a fixed-term renewable and an open-ended at-will contract. Each contract provides partners with full flexibility regarding the length and...

In this study we use import penetration as a proxy for foreign competition in order to empirically analyze (1) the impact of foreign competition on managerial compensation, (2) differences in the impact between Germany and the U.S and (3) whether the impact of import penetration is driven by...

German Abstract: Der Beitrag wendet sich an Rechtswissenschaftler*innen, die verhaltensökonomische Forschung einordnen und rezipieren möchten. Um diese Schritte zu erleichtern, erläutert er aus juristischer Sicht systematisch Anliegen und Methode der experimentellen Ökonomik. Ökonomische...

In our laboratory experiment, we conducted a comparison between two economically equivalent contracts: a fixed-term renewable contract and an open-ended at-will contract. Both contracts granted the partners complete flexibility in determining the duration and termination of their interaction....