When a group of investors with dispersed private information jointly invest in risky project, how should they divide the project's profit? We show that simple contract dividing profits proportion to investors' risk tolerances may facilitate aggregation by altering risk-taking incentives when decide on investment strategies respond information. Our results provide contracting-based approach for ...

This paper contributes to the broad literature on public services contracting in two ways. First, we provide an empirical analysis of contracting decisions in the provision of welfare-to-work (WTW) services. We estimate both the WTW-contracting decisions of Dutch municipalities and their impact on the performance, measured as the fraction of Social Assistance (SA) recipients. Second, we explici...

Inter-organizational business processes often involve contracting. ICT solutions for contracting processes must offer high flexibility in changing the structure of the contracting process. This can be achieved by ‘process-aware’ software components which are configured by an explicit model of the contracting process: the contracting workflow. However, the design of a contracting workflow from s...