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Schmidt, Klaus M. ORCID logoORCID: https://orcid.org/0000-0002-5011-0828 und Schnitzer, Monika (1995): The interaction of explicit and implicit contracts. In: Economics Letters, Vol. 48, No. 2: pp. 193-199

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Abstract

We analyze explicit and implicit contracts in a repeated principal-agent model with observable but only partially contractable actions of the agent. It is shown that the set of implementable actions may increase or decrease if additional actions become contractable.

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