Arbeitspapier
The interaction of explicit and implicit contracts: A signaling approach
We analyze the interaction of explicit and implicit contracts in a model with selfish and fair principals. Fair principals are willing to honor implicit agreements, whereas selfish principals are not. Principals are privately informed about their types. We investigate a separating equilibrium in which principals reveal their type through the contract o er to the agent. If this equilibrium is played, explicit and implicit contracts are substitutes. Since the agent learns the principal's type, a selfish principal has to rely on explicit incentives. A fair principal, by contrast, can effectively induce implicit incentives and hence does not need to use explicit incentives. Interestingly, if a selfish principal can rely on more effective explicit incentives, a fair principal becomes more likely to be able to separate from the selfish type and, hence, to make better use of implicit incentives. In this sense, there is a strategic complementarity between explicit and implicit incentives.
- Sprache
-
Deutsch
- Erschienen in
-
Series: Working Paper Series ; No. IF38V1
- Klassifikation
-
Wirtschaft
Asymmetric and Private Information; Mechanism Design
Economics of Contract: Theory
Personnel Economics: Compensation and Compensation Methods and Their Effects
- Thema
-
explicit contracts
implicit contracts
separating equilibrium
substitutes
strategic
complementarity
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Gürtler, Marc
Gürtler, Oliver
- Ereignis
-
Veröffentlichung
- (wer)
-
Technische Universität Braunschweig, Institut für Finanzwirtschaft
- (wo)
-
Braunschweig
- (wann)
-
2012
- DOI
-
doi:10.2139/ssrn.2031582
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Gürtler, Marc
- Gürtler, Oliver
- Technische Universität Braunschweig, Institut für Finanzwirtschaft
Entstanden
- 2012
Ähnliche Objekte (12)
Explicit & Implicit Interaction Design for Multi-Focus Visualizations
Implicit Contracts: Two Different Approaches
Involuntary Unemployment and Implicit Contracts
Implicit Labor Contracts to Explain Turnover
Alternating segment explicit-implicit and implicit-explicit parallel difference method for the nonlinear Leland equation
Explicit Evidence on an Implicit Contract
Explicit Evidence of an Implicit Contract
Explicit Evidence on an Implicit Contract
Explicit evidence of an implicit contract
Knowledge annotation: making implicit knowledge explicit
Implicit and Explicit Stances in Logic
Measuring Implicit and Explicit Sequence Learning
Explicit & Implicit Interaction Design for Multi-Focus Visualizations
Implicit Contracts: Two Different Approaches
Involuntary Unemployment and Implicit Contracts
Implicit Labor Contracts to Explain Turnover
Alternating segment explicit-implicit and implicit-explicit parallel difference method for the nonlinear Leland equation
Explicit Evidence on an Implicit Contract
Explicit Evidence of an Implicit Contract
Explicit Evidence on an Implicit Contract
Explicit evidence of an implicit contract
Knowledge annotation: making implicit knowledge explicit
Implicit and Explicit Stances in Logic
Measuring Implicit and Explicit Sequence Learning
Explicit & Implicit Interaction Design for Multi-Focus Visualizations
Implicit Contracts: Two Different Approaches
Involuntary Unemployment and Implicit Contracts
Implicit Labor Contracts to Explain Turnover
Alternating segment explicit-implicit and implicit-explicit parallel difference method for the nonlinear Leland equation
Explicit Evidence on an Implicit Contract
Explicit Evidence of an Implicit Contract
Explicit Evidence on an Implicit Contract
Explicit evidence of an implicit contract
Knowledge annotation: making implicit knowledge explicit
Implicit and Explicit Stances in Logic