Industry's Commitment

Commitment

A commitment scheme is a two-phase cryptographic protocol between two parties, a sender and a receiver, satisfying the following constraints. At the end of the Commit phase the sender is committed to a specific value (often a single bit) that he cannot change later on (Commitments are binding) and the receiver should have no information about the committed value, other than what he already knew...

Layoff costs and dynamic labor demand: Evidence from the U.S. Auto Industrys job security agreement

This paper studies an observable employment adjustment cost introduced in the domestic motor vehicle industry in 1990. The provision, known as the JOBS program, required …rms to pay full salary to a worker for each week spent on layo¤ beyond an allotment speci…ed in the union contract. The paper presents a model in which JOBS generates an incentive to defer layo¤s: a …rm wants to safeguard its ...

Efficient String-Commitment from Weak Bit-Commitment

We study security amplification for commitment schemes and improve the efficiency of black-box security amplification in the computational setting, where the security holds against PPT active adversaries. We show that ω(log s) black-box calls to a weak bit-commitment scheme with constant security is sufficient to construct a commitment scheme with standard negligible security, where s denotes t...

Bilateral commitment

We consider non-cooperative environments in which two players have the power to commit but cannot sign binding agreements. We show that by committing to a set of actions rather than to a single action, players can implement a wide range of action profiles. We give a complete characterization of implementable profiles and provide a simple method to find them. Profiles implementable by bilateral ...

Hopeful Commitment