Abstract
“Implicit Contracts, Incentive Compatibility, and Involuntary Unemployment” (MacLeod and Malcomson, 1989) remains our most highly cited work. We briefly review the development of this paper and of our subsequent related work, and conclude with reflections on the future of relational contract theory and practice.
| Original language | English (US) |
|---|---|
| Pages (from-to) | 470-499 |
| Number of pages | 30 |
| Journal | Journal of Institutional and Theoretical Economics |
| Volume | 179 |
| Issue number | 3-4 |
| DOIs | |
| State | Published - 2023 |
All Science Journal Classification (ASJC) codes
- Economics and Econometrics
Keywords
- incentives
- informal enforcement
- legal enforcement
- private information
- relational contracts