Repeated moral hazard and contracts with memory: A laboratory experiment

Date: 2011-02
By: Nieken, Petra
Schmitz, Patrick W
URL: http://d.repec.org/n?u=RePEc:cpr:ceprdp:8241&r=net
This paper reports data from a laboratory experiment on two-period moral hazard problems. The findings corroborate the contract-theoretic insight that even though the periods are technologically unrelated, due to incentive considerations principals may prefer to offer contracts with memory.
Keywords: Laboratory experiment; Repeated moral hazard; Sequential hidden actions
JEL: D82
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