Reciprocity as a contract enforcement device: experimental evidence

Article Abstract:

Three experimental conditions of no-reciprocity-treatment (NRT), weak-reciprocity-treatment (WRT), and strong-reciprocity-treatment (SRT), have been undertaken to determine the effect of reciprocal behavior on the enforcement of market contracts. The result showed that in WRT, the intensity of workers' reciprocal behavior is correlated to the incentive offered by firms and is higher than in NRT. It also showed that in SRT, firms gave higher incentives to workers fulfilling the contract, thereby motivating NRT and WRT workers.

Contract Administration, Behavior Theory, Research, Analysis, Interpretation and construction, Contracts, Human behavior, Principal components analysis, Reciprocity (Commerce), Contract management

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Explaining investment dynamics in U.S. manufacturing: a generalized (S,s) approach

Article Abstract:

A time-series model of sectoral investments that builds from the realistic observation that lumpy adjustments play an important role in the investment behavior of firms has been developed. The new model does not require that adjustments be of the same size across adjusting firms and for a firm over time. It also incorporates an important forecasting feature not found in simple linear models. It can reduce the mean-squared-error by a substantial amount in almost every year and sector, particularly for the structures.

Financial Management NEC, Models, Investments, Financial management, Macroeconomics

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