Efficiency and equilibria in complimentary teams: a comment
Article Abstract:
An analysis of the moral hazard in the teams problem reveals that there are discontinuities in the marginal product curves, thereby showing that moral hazard problems are not wholly dependent on the assumption that inputs are perfect substitutes. An analysis of Vislie's claim that moral hazards result from assumptions that inputs are perfect substitutes reveals that the discontinuities are non-complimentary and that these allow for ways to avoid the moral hazard problem altogether.
Publication Name: Journal of Economic Behavior & Organization
Subject: Economics
ISSN: 0167-2681
Year: 1997
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The voluntary contributions mechanism with uncertain group payoffs
Article Abstract:
An experimental study introducing an endogenous probability in the voluntary contributions mechanism reveals that uncertainty per se lowers individual but not group contributions, that lagged marginal incentives significantly predict contributions and that individuals significantly react to own-deviations from group contribution averages. The study shows individual responses but may not reflect group responses in voluntary contribution mechanisms.
Publication Name: Journal of Economic Behavior & Organization
Subject: Economics
ISSN: 0167-2681
Year: 1998
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