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We construct an individual-level data set of partnership contracts in late-nineteenth-century Rio de Janeiro to study the determinants of contract terms. Partners with limited liability contribute...
We consider a multi-period variation of the network utility maximization problem that includes delivery constraints. We allow the flow utilities, link capacities and routing matrices to vary over time...
A large literature identifies unique organizational capabilities as a potent source of competitive advantage, yet our knowledge of why capabilities fail to diffuse more rapidly-particularly in situati...
Under the principal-agent framework, the first essay studies and compares different compensation schemes commonly adopted by hedge fund and mutual fund managers. We find that the option-like performan...
Human resource practices influence the psychological contract between employee and employer and, ultimately, organisational performance.
We examine a general multi-factor model for commodity spot prices and futures valuation. We extend the multi-factor long-short model in [1] and [2] in two important aspects: firstly we allow for both...
In an equilibrium model of the labor market, workers and firms enter into dynamic contracts that can potentially last forever, but are subject to optimal terminations. Upon termination, the firm hires...
International outsourcing to lower cost countries such as China and India can best be understood through the enrichment of trade models to include concepts from industrial organization and contract th...
INTRODUCTION Employment law in America generally operates under the presumption that employment for an unspecified or indefinite term is considered “at-will.”1 This means that employment can be ter...
This article examines a self-enforcing contract between a risk-neutral principal and a risk-averse agent who is able to hold up values ex post. It shows that risk aversion and variance can only partly...

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