Risk Sharing, Sorting, and Early Contracting
نویسندگان
چکیده
منابع مشابه
Risk, Incentives, and Contracting Relationships
The aim of this paper is to understand the impact of optimal provision of both risk and incentives on the choice of contracting partners. I study a risky setting where heterogeneously risk-averse employers and employees must match to be productive. They face a standard onesided moral hazard problem: mean output increases in the noncontractible input of the employee. Better insurance comes at th...
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The allocation of risks among the contracting parties in a contract is an important decision affecting the project success. Some risks in a project are uncontrollable; these are imposed to a project by external factors. Since contracting parties can neither control nor affect the occurrence of such risks, their allocation to a party would be inequitable. Therefore the cost overrun related to un...
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ژورنال
عنوان ژورنال: Journal of Political Economy
سال: 2000
ISSN: 0022-3808,1537-534X
DOI: 10.1086/317675