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The Existence of Self-Enforcing Implicit Contracts

Clive Bull^1,2

¹ New York University · ² Webber International University

Implicit contracts are nontrivial Nash equilibria to the post-hiring trading game between a worker and the employer. These are supported by intrafirm, rather than labor market, reputations. The existence of an implicit contract that supports efficient trade is proved in a simple model.

DOI

10.2307/1884685

Volume

102 (1)

Pages

147

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BibTeX

Sources

crossref openalex