Contract Length: Expected Surplus, Uncertainty, and Specific Investments
2009/02/10
研討會日期 : 2009-02-10
時間 : 15:30
主講人 : 唐孟祺 先生
地點 : B110
演講者簡介 : 唐孟祺先生為Ph.D. in Economics，Michigan State University (May 2009 expected)。其主要研究領域為Applied Game Theory、Industrial Organization、Applied Econometrics。目前正申請本所研究職務中。
演講摘要 : This paper empirically tests how contract length is affected by expected surplus, uncertainty, and specific investments. Using the contract information from the National Football League and the franchising industry, I find that contract length increases with expected surplus and specific investments. In addition, contract length increases with uncertainty when the seller (player) is more risk averse than the buyer (team), and decreases with uncertainty when the seller (franchisor) is less risk averse than the buyer (franchisee).
