GP contract settlement under threat

Settlement Risk under Gross and Net Settlement

Previous comparative analyses of gross and net settlement have focused on the credit risk of the central counterparty in net settlement arrangements, and on the incentives for participants to alter the risk of the portfolio under net settlement. By modeling the trading economy that generates the demand for payment services, we are able to show some largely unexplored advantages of net settlemen...

Settlement under the threat of conflict – The cost of asymmetric information

I study a situation where two players disagree on the division of a good. In the first of two stages, the players can divide the good peacefully between them by signing a contract. If either or both players reject the contract, they must engage in a costly contest over the good. One of the players' valuation is assumed to be private information. The feasibility of a contract that divides the go...

Effect of the new GP contract on child health clinics.

Margaret McCartney: Scottish GP contract-responsibility without power?

The proposed Scottish GP contract is clearly intended to shore up GPs and support primary care, and there’s much in it to like. It effectively underwrites premises so that younger GPs won’t be dissuaded from joining a practice that owns its buildings. It includes a minimum income expectation for 40 hour full time GP equivalents, some 20% of whom in Scotland earn less than the proposed minimum o...

Joint Contract under Inequity Aversion

The standard contract theory adopts the traditional hypothesis of pure self-interest. However, a series of game experiments have proven that people are not any self-interest but also inequity averse. Then, how will the inequity aversion influence the optimal contract for multiple agents? This paper attempts to obtain new theoretical insights by incorporating inequity aversion into the standard ...