Implicit Contracts, Incentive Compatibility, and Involuntary Unemployment: Thirty Years On

W. Bentley Macleod and James Malcomson

No 15881, IZA Discussion Papers from Institute of Labor Economics (IZA)

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.

Keywords: incentives; legal enforcement; informal enforcement; relational contracts; private information (search for similar items in EconPapers)
JEL-codes: D21 D23 D82 D86 L14 L22 L23 L24 (search for similar items in EconPapers)
Pages: 41 pages
Date: 2023-01
New Economics Papers: this item is included in nep-cta, nep-his, nep-hrm and nep-lma
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

Published - published in: Journal of Institutional and Theoretical Economicsi (JITE), 2023, 179 (3), 470 - 499

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Related works:
Journal Article: Implicit Contracts, Incentive Compatibility, and Involuntary Unemployment: Thirty Years On (2023)
Working Paper: Implicit contracts, incentive compatibility, and involuntary unemployment: thirty years on (2023)
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