منابع مشابه
Flexible contracts
An objective of this work is the study of the consequences of the presence of unforeseen contingencies or other forms of higher order uncertainty in the agents’ decision process for the properties of contractual arrangements. In particular, the presence of unforeseen contingencies or private information over the states of the world are often advocated (e.g. Maskin (2002), p. 726) as one of the ...
متن کاملFlexible Supply Contracts via Options
We develop an option model to quantify and price a flexible supply contract, by which the buyer (a manufacturer), in addition to a committed order quantity, can purchase option contracts and decide whether or not to exercise them after demand is realized. We consider both call and put options, which generalize several widely practiced contracting schemes such as capacity reservation and buy-bac...
متن کاملFlexible Contracts and Subjective Well-being
If workers choose between permanent and flexible contracts, utility should equalize. Estimates of job satisfaction using the British Household Panel Survey reveal the critical role played by unmeasured worker heterogeneity. Accounting for such heterogeneity, shows that flexible contracts are a strong negative determinant of satisfaction with job security but are often a positive determinant of ...
متن کاملFlexible-Term Contracts for Road Franchising
Private participation in road projects is increasing around the world. The most popular franchising mechanism is a concession contract, which allows a private firm to charge tolls to road users during a pre-determined period in order to recover its investments. Concessionaires are usually selected through auctions at which candidates submit bids for tolls, payments to the government, or minimum...
متن کاملFlexible supply contracts under price uncertainty
This article develops supply contracts covering environments with changing prices. We investigate characterization properties of the price processes, while considering costs and discount factors. We determine expressions of the contract’s expected low price and its second moment for a given horizon. We then employ these expected price and second moment values to identify an expected optimum tim...
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ژورنال
عنوان ژورنال: Games and Economic Behavior
سال: 2017
ISSN: 0899-8256
DOI: 10.1016/j.geb.2016.01.013