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Compensation and Bargaining with Entrepreneurship as the Outside Option

Author

Listed:
  • Koskela, E.
  • Stenbacka, R.

Abstract

We analyze the impact of entrepreneurship as an outside option on compensation contracts between a principal and an agent with bargaining power. In the first stage the parties bargain over the base wage and the profit share. In the second stage the principal determines the capital investment and the agent decides on effort.

Suggested Citation

  • Koskela, E. & Stenbacka, R., 2000. "Compensation and Bargaining with Entrepreneurship as the Outside Option," University of Helsinki, Department of Economics 479, Department of Economics.
    • Handle: RePEc:fth:helsec:479
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    Cited by:

    1. Omonbude, Ekpen J., 2007. "The transit oil and gas pipeline and the role of bargaining: A non-technical discussion," Energy Policy, Elsevier, vol. 35(12), pages 6188-6194, December.
    2. Richard Fairchild, 2004. "Financial Contracting Between Managers And Venture Capitalists: The Role Of Value‐Added Services, Reputation Seeking, And Bargaining Power," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 27(4), pages 481-495, December.
    3. Rune Stenbacka, 2002. "Microeconomic Policies in the New Economy," Finnish Economic Papers, Finnish Economic Association, vol. 15(2), pages 59-75, Autumn.
    4. Subramanian, Narayanan, 2005. "The economics of intrapreneurial innovation," Journal of Economic Behavior & Organization, Elsevier, vol. 58(4), pages 487-510, December.

    More about this item

    Keywords

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    JEL classification:

    • J33 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Compensation Packages; Payment Methods
    • J41 - Labor and Demographic Economics - - Particular Labor Markets - - - Labor Contracts
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity

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