| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP3514 |
| DP3514 Firms' Decisions on Where to Incorporate | |
| Lucian Arye Bebchuk; Alma Cohen | |
| 发表日期 | 2002-08-20 |
| 出版年 | 2002 |
| 语种 | 英语 |
| 摘要 | We explore the role of firms in insuring risk-averse workers. As a device that allows workers to commit to the delivery of their output, the firm arises endogenously as an alternative to the spot market if workers are sufficiently risk averse and the firm can base incentive payments on good information. Competition, however, may allow the spot market and explicit contracts to crowd out implicit insurance provided by the firm, even though the latter yields higher welfare. We explain why different governance structures coexist in quite homogeneous industries. |
| 主题 | Public Economics |
| 关键词 | Insurance Implicit contracts Moral hazard Principal agent Commitment Shirking |
| URL | https://cepr.org/publications/dp3514 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/532528 |
| 推荐引用方式 GB/T 7714 | Lucian Arye Bebchuk,Alma Cohen. DP3514 Firms' Decisions on Where to Incorporate. 2002. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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