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| Página principal > Documentos de investigación > Working papers > Let's talk : |
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| Página principal > Documentos de investigación > Working papers > Let's talk : |
| Fecha: | 2012 |
| Descripción: | 52 p. |
| Resumen: | We study experimentally how the ability to communicate affects the frequency and effectiveness of flexible and inflexible contracts in a bilateral trade context where sellers can adjust trade quality after observing a post-contractual cost shock and a discretionary buyer transfer. In the absence of communication, we find that rigid contracts are more frequent and lead to higher earnings for both buyer and seller. By contrast, in the presence of communication, flexible contracts are much more frequent and considerably more productive, both for buyers and sellers. Also, both buyer and seller earn considerably more from flexible with communication than rigid without communication. Our results show quite strongly that communication, a normal feature in contracting, can remove the potential cost of flexibility (disagreements caused by conflicting perceptions). We offer an explanation based on social norms. |
| Derechos: | Aquest material està protegit per drets d'autor i/o drets afins. Podeu utilitzar aquest material en funció del que permet la legislació de drets d'autor i drets afins d'aplicació al vostre cas. Per a d'altres usos heu d'obtenir permís del(s) titular(s) de drets.  |
| Lengua: | Anglès |
| Colección: | Departament d'Economia i d'Història Econòmica. Unitat de Fonaments de l'Anàlisi Econòmica / Institut d'Anàlisi Econòmica (CSIC). Working papers |
| Colección: | Working papers ; 908.12 |
| Documento: | Working paper |
| Materia: | Communication, contracts, perceptions and cooperation ; Communication ; Contracts ; Perceptions and cooperation |
