منابع مشابه
Bargaining over Incentive Contracts
Standard contract theory assumes that the principal holds all of the bargaining power. By implementing alternating o¤er and strategic delay, we transform the one-shot contracts design game into the in nite-horizon contracts bargaining game. The uninformed principal and the informed agent bargain over multiple dimensions. Our paper presents the following new results. When the di¤erence between t...
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While antitrust law is often hostile to exclusive contracts that say ”you agree not to purchase this product from anyone besides me”, economic theory so far has provided only partial support for such a hostility.1 This paper shows that this hostility can be justified under more general circumstances than has been established so far in the literature: a firm may introduce exclusivity clauses in ...
متن کاملExclusive contracts in health insurance
Competition between insurance companies for employees of a firm often increases the prices and reduces the availability of high-quality health plans offered to employees. An insurance company can reduce competition by signing an exclusive contract, which guarantees that the company is the only insurance provider. The study assesses whether exclusive contracts can alleviate the negative conseque...
متن کاملFinancial Contracts, Bargaining and Security Design∗
We explore how a firm optimally finances multiple projects when profits depend on subsequent negotiations with buyers, a common situation in procurement projects and vertical industries. A tension arises because the agreements reached with buyers depend on how the proceeds from the sales will be divided with investors. A financial contract determines the division. Should the proceeds from multi...
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In an analysis of a model where many workers bargain with a ...rm and sign binding contracts, we show existence of a stationary subgame perfect equilibrium. If the production function satis...es decreasing returns, each worker receives a share of his marginal product (treating all other workers as employed) in equilibrium. Thus, wages are competitive. This is in contrast to Stole and Zweibel (1...
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ژورنال
عنوان ژورنال: Economics Letters
سال: 2017
ISSN: 0165-1765
DOI: 10.1016/j.econlet.2016.11.021