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Relational Contracts: Recent Empirical Advancements and Open Questions

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  • Rocco Macchiavello
  • Ameet Morjaria

Abstract

Relational contracts - informal self-enforcing agreements sustained by repeated interactions - are ubiquitous both within and across organizational boundaries. This review highlights recent empirical contributions in selected areas. We begin by reviewing some recent work that explicitly takes the dynamic incentive compatibility constraints that underpin relational contract models to the data. We then discuss the relationship between relational contracting and firms' performance. We conclude pointing in directions that we consider to be particularly ripe for future work.

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  • Rocco Macchiavello & Ameet Morjaria, 2023. "Relational Contracts: Recent Empirical Advancements and Open Questions," NBER Working Papers 30978, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:30978
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    Cited by:

    1. Andrea Bafundi & Riccardo Camboni & Edoardo Grillo & Paola Valbonesi, 2023. "Public Procurement and the Risk of Severe Weather Events," "Marco Fanno" Working Papers 0303, Dipartimento di Scienze Economiche "Marco Fanno".
    2. Fahn, Matthias & MacLeod, W. Bentley & Muehlheusser, Gerd, 2023. "Past and Future Developments in the Economics of Relational Contracts," IZA Discussion Papers 16427, Institute of Labor Economics (IZA).

    More about this item

    JEL classification:

    • D86 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Economics of Contract Law
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • L14 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Transactional Relationships; Contracts and Reputation
    • O19 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - International Linkages to Development; Role of International Organizations

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