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An Active-Contracting Perspective on Equilibrium Selection in Relational Contracts

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  • Miller, David A
  • Watson, Joel

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  • Miller, David A & Watson, Joel, 2023. "An Active-Contracting Perspective on Equilibrium Selection in Relational Contracts," University of California at San Diego, Economics Working Paper Series qt2dg817mv, Department of Economics, UC San Diego.
    • Handle: RePEc:cdl:ucsdec:qt2dg817mv
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    References listed on IDEAS

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    1. Matthias Fahn, 2017. "Minimum Wages and Relational Contracts," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 33(2), pages 301-331.
    2. Watson, Joel, 2021. "Theoretical Foundations of Relational Incentive Contracts," University of California at San Diego, Economics Working Paper Series qt19f9w2xf, Department of Economics, UC San Diego.
    3. Klimenko, Mikhail & Ramey, Garey & Watson, Joel, 2008. "Recurrent trade agreements and the value of external enforcement," Journal of International Economics, Elsevier, vol. 74(2), pages 475-499, March.
    4. Hart, Oliver & Moore, John, 1990. "Property Rights and the Nature of the Firm," Journal of Political Economy, University of Chicago Press, vol. 98(6), pages 1119-1158, December.
    5. Mortensen, Dale & Pissarides, Christopher, 2011. "Job Creation and Job Destruction in the Theory of Unemployment," Ekonomicheskaya Politika / Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 1, pages 1-19.
    6. Jonathan Levin, 2003. "Relational Incentive Contracts," American Economic Review, American Economic Association, vol. 93(3), pages 835-857, June.
    7. Bergin James & MacLeod W. Bentley, 1993. "Efficiency and Renegotiation in Repeated Games," Journal of Economic Theory, Elsevier, vol. 61(1), pages 42-73, October.
    8. Ramey, Garey & Watson, Joel, 1999. "Contractual Intermediaries," University of California at San Diego, Economics Working Paper Series qt49p1c23g, Department of Economics, UC San Diego.
    9. Wouter J. Den Haan & Garey Ramey & Joel Watson, 1999. "Contract-theoretic approaches to wages and displacement," Review, Federal Reserve Bank of St. Louis, issue May, pages 55-68.
    10. Ray Debraj, 1994. "Internally Renegotiation-Proof Equilibrium Sets: Limit Behavior with Low Discounting," Games and Economic Behavior, Elsevier, vol. 6(1), pages 162-177, January.
    11. Grout, Paul A, 1984. "Investment and Wages in the Absence of Binding Contracts: A Nash Bargining Approach," Econometrica, Econometric Society, vol. 52(2), pages 449-460, March.
    12. Joel Watson, 2013. "Contract and Game Theory: Basic Concepts for Settings with Finite Horizons," Games, MDPI, vol. 4(3), pages 1-40, August.
    13. Asheim, Geir B., 1991. "Extending renegotiation-proofness to infinite horizon games," Games and Economic Behavior, Elsevier, vol. 3(3), pages 278-294, August.
    14. Garey Ramey & Joel Watson, 2002. "Contractual Intermediaries," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 18(2), pages 362-384, October.
    15. Douglas Bernheim, B. & Ray, Debraj, 1989. "Collective dynamic consistency in repeated games," Games and Economic Behavior, Elsevier, vol. 1(4), pages 295-326, December.
    16. Heidi Gjertsen & Theodore Groves & David A Miller & Eduard Niesten & Dale Squires & Joel Watson, 2021. "Conservation Agreements: Relational Contracts with Endogenous Monitoring [“Toward a Theory of Discounted Repeated Games with Imperfect Monitoring]," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 37(1), pages 1-40.
    17. Abrea Dilip & Pearce David & Stacchetti Ennio, 1993. "Renegotiation and Symmetry in Repeated Games," Journal of Economic Theory, Elsevier, vol. 60(2), pages 217-240, August.
    18. Joel Watson, 2021. "Theoretical Foundations of Relational Incentive Contracts," Annual Review of Economics, Annual Reviews, vol. 13(1), pages 631-659, August.
    19. Kostadinov, Rumen, 2021. "Renegotiation of long-term contracts as part of an implicit agreement," Theoretical Economics, Econometric Society, vol. 16(4), November.
    20. Gjertsen, Heidi & Groves, Theodore & Miller, David A & Niesten, Eduard & Squires, Dale & Watson, Joel, 2021. "Conservation Agreements: Relational Contracts with Endogenous Monitoring," University of California at San Diego, Economics Working Paper Series qt6zq3g110, Department of Economics, UC San Diego.
    21. David A. Miller & Joel Watson, 2013. "A Theory of Disagreement in Repeated Games With Bargaining," Econometrica, Econometric Society, vol. 81(6), pages 2303-2350, November.
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    Keywords

    Economics; Applied Economics; Economic Theory; equilibrium selection; active contracting; bargaining power; relationships; Applied economics; Economic theory;
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