Search Results
Showing results 1 to 3 of approximately 3.
(refine search)
Working Paper
The distributional effects of contractual norms: the case of cropshare agreements
According to principal-agent theory, a share contract strikes an optimal balance between risk-sharing and incentive provision when it is difficult to gauge the agent's contribution. This theory predicts that the size of the share should vary with economic fundamentals. In practice, however, the share divisions that are specified often cluster around "usual and customary" levels ? even when there is substantial heterogeneity among principal - agent pairs. Using Illinois farm-level data observed between 1980 and 1994 that include soil productivity ratings, tenant net income, and crop yields, ...
Speech
Getting to the Core of Culture
Remarks at Working Together; An Interdisciplinary Approach to Organisational Culture, London School of Economics and Political Science, London, U.K.
Speech
Enhancing financial stability by improving culture in the financial services industry
Remarks at the Workshop on Reforming Culture and Behavior in the Financial Services Industry, Federal Reserve Bank of New York, New York City.