Results 21 to 30 of about 13,585 (267)
Constitutions as incomplete social contracts
Politica economica, 2017 Besides sharing a common cultural background, Italy and Spain also share a similar institutional framework. Both are unitary states in the European Union that have devolved responsibilities of mandatory services to be provided nationwide at the sub-national level within rules set at the Constitutional level.
Montolio, D, Turati, G
openaire +2 more sources
Incomplete Contracting and AI Alignment [PDF]
SSRN Electronic Journal, 2018 We suggest that the analysis of incomplete contracting developed by law and economics researchers can provide a useful framework for understanding the AI alignment problem and help to generate a systematic approach to finding solutions. We first provide an overview of the incomplete contracting literature and explore parallels between this work and the
Dylan Hadfield-Menell +1 more
openaire +3 more sources
Noncontractible Investments and Reference Points
Games, 2013 We analyze noncontractible investments in a model with shading. A seller can make an investment that affects a buyer’s value. The parties have outside options that depend on asset ownership.
Oliver Hart
doaj +1 more source
Incomplete Contract and Divisional Structures [PDF]
SSRN Electronic Journal, 2009 In this paper we want to analyze the internal divisional structure within an organi-zation in the framework of incomplete contract theory. We use the framework of Aghionand Tirole (1997) and define the managerial control structure as \sequence of search".A key feature of this paper which differentiate it from other works in the literature isthat we add
Bao, T., Wang, Y.
openaire +4 more sources
Journal of Business Economics and Management, 2011 This study examines the results of a field survey on international outsourcing conducted in 2009 in the Netherlands. The research sample is composed of 156 Dutch enterprises from various industries. Empirical evidence shows that reduction of labor costs,
Süleyman Tuluğ Ok
doaj +1 more source
THE THEORIES OF INCOMPLETE CONTRACTS IN ANALYZING THE COMPANY [PDF]
Annals of the University of Oradea: Economic Science, 2012 Incomplete contracts theories have developed significantly in recent decades, although insistence for rigorous models left little room for empirical research.
Pacala Anca
doaj
Solution Concepts of Principal-Agent Models with Unawareness of Actions
Games, 2013 In numerous economic scenarios, contracting parties may not have a clear picture of all the relevant aspects. A contracting party may be unaware of what she and/or others are entitled to determine. Therefore, she may reject a contract that is too good to
Xiaojian Zhao, Ying-Ju Chen
doaj +1 more source
Bounded rationality and incomplete contracts [PDF]
Research in Economics, 2004 This paper explores the link between boundedly rational behavior and incomplete contracts. The bounded rationality of the agents in our world is embodied in a constraint that the contracts they write must be algorithmic in nature. We start with a definition of contract incompleteness that seems both ap- pealing and widely applicable.
Anderlini L., Felli L.
openaire +4 more sources
Contract Design: Financial Options and Risk
International Journal of Integrated Care, 2018 Introduction: Integrated care systems as well as accountable care organisations (ACOs) in the US and similar concepts in other countries are advocated as an effective method of improving the performance of healthcare systems.
Axel C. Mühlbacher +2 more
doaj +1 more source
Delegation with Incomplete and Renegotiable Contracts [PDF]
SSRN Electronic Journal, 2008 It is well known that delegating the play of a game to an agent via incentive contracts may serve as a commitment device and hence provide a strategic advantage. Previous literature has shown that any Nash equilibrium outcome of an extensive-form principals-only game can be supported as a sequential equilibrium outcome of the induced delegation game ...
Levent Koçkesen, Emanuele Gerratana
openaire +3 more sources