Venture capital ("VC") has built a solid reputation for spurring innovation and economic growth, thus emerging as a crown jewel of the U.S. economy since the 1980s. The development of the U.S. VC market has benefited from the enabling nature of U.S. (Delaware) corporate law, which allows parties...

Venture capital ("VC") has built a solid reputation for spurring innovation and economic growth, thus emerging as a crown jewel of the U.S. economy since the 1980s. The development of the U.S. VC market has benefited from the enabling nature of U.S. (Delaware) corporate law, which allows parties...

How do different characteristics of pay-for-performance schemes affect fairness perceptions? In two studies, we systematically consider three major classes of incentive schemes: continuous piece rate incentives, discrete bonus schemes, and tournament incentives. We find that pay inequality has a...

For workers facing uncertain output, fixed-wage contracts provide implicit insurance compared to self-employment or performance-based pay. But like any insurance product, these contracts are prone to market distortions through moral hazard and adverse selection. Using a model of wage contracts...

In this study, we examine two adjudication methods designed to resolve disputes between principals and agents concerning bonus payments in relationships characterized by moral hazard and where the parties have been forced to use soft, imprecise, and subjective information to align incentives....

This study examines the association between firm-level investments in automation technologies and employment outcomes, drawing on a panel dataset of approximately 10,450 Italian firms. We focus on the proliferation of non-standard labour contracts introduced by labour market reforms in the...

Ziel des Projektes war die Analyse der makroökonomischen Effekte unterschiedlicher Szenarien auf der Grundlage der langfristigen Gaslieferverträge von Österreich mit Russland. Die makroökonomischen Effekte der einzelnen Szenarien wurden mit dem WIFO-Modell ADAGIO (A DynAmic Global Input...

In the EV supply chain, R&D cooperation for key components between the manufacturer and tier 2 supplier is common. This paper primarily explores the effects of cross-echelon R&D cooperation and overconfidence on the quality and price of key components, as well as the profits of the manufacturer...

We examine the impact of the war in Ukraine on long-term contracts in energy markets. We find that traded contract volumes fall by 65 percent in the first months of the war. A collapse in bilateral trading contributes most to this decline. To protect themselves from price shocks, firms...

Compared to permanent employment contracts, fixed-term contracts are less attractive. However, a recent IAB study shows that fixed-term contracts are not necessarily disadvantageous, even if permanent contracts are preferable from the employees' point of view. The decisive factors are less...

As healthcare systems face mounting pressure to modernise payment infrastructure, fintech innovations have emerged as potential tools to improve affordability and efficiency. However, the adoption of these technologies in clinical settings remains limited. This study investigated the perceptions...

If designed and implemented well, public-private partnership (PPP) projects can fill the gaps in the public provision of infrastructure facilities and social services at the subnational level. The more than three decades of implementing subnational PPPs in the Philippines brought to the fore...

While previous research on head coach dismissals finds that team performance and managerial characteristics impact employment survival, these studies ignore the impact of contract modifications. Using an accelerated failure time survival model with hand-collected college head football coach...

We study a moral hazard model in which the output is stochastically determined by both the agent's hidden effort and an uncertain state of the world. We investigate how the contractibility of the ex-post realization of the state affects the principal's incentive to provide information. While...

The economic literature has remarked on the stability of the German labor market, despite the severe impact of the pandemic induced recession. So, what factors contributed to this stability? The literature stresses the use of internal flexibility on firm level - reducing working hours and...