Physica-Verlag;Berlin/Heidelberg: Springer Berlin Heidelberg
摘要:
摘要： This study empirically investigates how uncertainty and specific investment determine contract duration. Using detailed individual labor contracts of Major League Baseball players, the empirical estimations find that, given that players are more risk-averse than clubs, contract length exhibits a positive relationship with the level of productive uncertainty. This implies that the risk-sharing hypothesis dominates the competing hypothesis of efficient production in individual labor contracts. Moreover, contract length is positively related to specific investment, highlighting that the prediction of the transaction cost theory also holds on individual labor contracts. 其他題名： Empir Econ 出版者： Berlin/Heidelberg: Springer Berlin Heidelberg 出版日期： 2016-05-01 出處： Empirical economics, 2016-05, Vol.50 (3), p.1009-1028 資源來源： EBSCOhost Business Source Premier 版權： Springer-Verlag Berlin Heidelberg 2015 版權： Springer-Verlag Berlin Heidelberg 2016 識別號： ISSN: 0377-7332 識別號： EISSN: 1435-8921 識別號： DOI: 10.1007/s00181-015-0963-6
