W. Bentley MacLeod
Reputations, Relationships and the Enforcement of Incomplete Contracts
ol:OL31758699M
aarecords_metadata
by W. Bentley MacLeod
HD5701
Title from PDF file as viewed on 2/16/2006.

Includes bibliographical references.

Also available in print.

System requirements: Adobe Acrobat Reader.

Mode of access: World Wide Web.
book_unknown
Discussion paper -- no. 1978, Discussion paper (Forschungsinstitut zur Zukunft der Arbeit : Online) -- no. 1978, Bonn, Germany, Germany, 2006
2006615312
OL31758699M OL24060453W
en
en
IZA
"This paper discusses the literature on the enforcement of incomplete contracts. It compares legal enforcement to enforcement via relationships and reputations. A number of mechanisms, such as the repeat purchase mechanism (Klein and Leffler (1981)) and efficiency wages (Shapiro and Stiglitz (1984)), have been offered as solutions to the problem of enforcing an incomplete contract. It is shown that the efficiency of these solutions is very sensitive to the characteristics of the good or service exchanged. In general, neither the repeat purchase mechanism nor efficiency wages is the most efficient in the set of possible relational contracts. In many situations, total output may be increased through the use of performance pay and through increasing the quality of law"--Forschungsinstitut zur Zukunft der Arbeit web site.
Reputations, relationships and the enforcement of incomplete contracts
2006
ol:OL31758699M
aarecords_metadata
OL31758699M
external_download meta_explore
book_unknown
en
ol
Reputations, relationships and the enforcement of incomplete contracts
by W. Bentley MacLeod
by W.  Bentley MacLeod
Discussion paper -- no. 1978, Discussion paper (Forschungsinstitut zur Zukunft der Arbeit : Online) -- no. 1978, Bonn, Germany, Germany, 2006
Discussion paper -- no.  1978, Discussion paper (Forschungsinstitut zur Zukunft der Arbeit :  Online) -- no.  1978, Bonn, Germany, Germany, 2006
IZA

ol:OL31758699M
ol: OL31758699M
OL31758699M ol:OL31758699M
OL24060453W ol:OL24060453W
2006615312 lccn:2006615312
HD5701 lcc:HD5701
2006