Klaus M. Schmidt

Ludwig Maximilian University of Munich (LMU) - Faculty of Economics

Professor

Ludwigstrasse 28

Munich, D-80539

Germany

CESifo (Center for Economic Studies and Ifo Institute)

Poschinger Str. 5

Munich, DE-81679

Germany

http://www.CESifo.de

Centre for Economic Policy Research (CEPR)

Fellow

London

United Kingdom

SCHOLARLY PAPERS

37

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503

CROSSREF CITATIONS

603

Scholarly Papers (37)

Theories of Fairness and Reciprocity - Evidence and Economic Applications

Number of pages: 59 Posted: 09 Feb 2001
Ernst Fehr and Klaus M. Schmidt
University of Zurich - Department of Economics and Ludwig Maximilian University of Munich (LMU) - Faculty of Economics
Downloads 1,584 (22,458)
Citation 69

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Behavioral Economics, Fairness, Reciprocity, Altruism, Experiments, Incentives, Contracts, Competition

Theories of Fairness and Reciprocity - Evidence and Economic Applications

Number of pages: 63 Posted: 26 Mar 2001
Ernst Fehr and Klaus M. Schmidt
University of Zurich - Department of Economics and Ludwig Maximilian University of Munich (LMU) - Faculty of Economics
Downloads 81 (586,227)
Citation 80
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Altruism, behavioural economics, competition, contracts, experiments, fairness, incentives, reciprocity

2.
Downloads 1,481 (25,268)
Citation 64

Convertible Securities and Venture Capital Finance

Number of pages: 35 Posted: 18 Jun 2001
Klaus M. Schmidt
Ludwig Maximilian University of Munich (LMU) - Faculty of Economics
Downloads 1,481 (24,819)
Citation 64

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Convertible securities, venture capital, corporate finance, double moral hazard, incomplete contracts

Convertible Securities and Venture Capital Finance

Posted: 14 Sep 2003
Klaus M. Schmidt
Ludwig Maximilian University of Munich (LMU) - Faculty of Economics

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Use and Abuse of Authority: A Behavioral Foundation of the Employment Relation

Number of pages: 37 Posted: 16 Nov 2012 Last Revised: 19 Nov 2012
Björn Bartling, Ernst Fehr and Klaus M. Schmidt
University of Zurich - Department of Economics, University of Zurich - Department of Economics and Ludwig Maximilian University of Munich (LMU) - Faculty of Economics
Downloads 664 (76,176)
Citation 7

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theory of the firm, transaction cost economics, authority, power abuse, employment relation, fairness, reputation

Use and Abuse of Authority - A Behavioral Foundation of the Employment Relation

CESifo Working Paper Series No. 4068
Number of pages: 38 Posted: 30 Jan 2013
Björn Bartling, Ernst Fehr and Klaus M. Schmidt
University of Zurich - Department of Economics, University of Zurich - Department of Economics and Ludwig Maximilian University of Munich (LMU) - Faculty of Economics
Downloads 84 (573,199)

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theory of the firm, transaction cost economics, authority, power abuse, employment relation, fairness, reputation

Use and Abuse of Authority: A Behavioral Foundation of the Employment Relation

IZA Discussion Paper No. 7029
Number of pages: 39 Posted: 09 Dec 2012
Björn Bartling, Ernst Fehr and Klaus M. Schmidt
University of Zurich - Department of Economics, University of Zurich - Department of Economics and Ludwig Maximilian University of Munich (LMU) - Faculty of Economics
Downloads 41 (818,632)
Citation 3

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theory of the firm, transaction cost economics, authority, power abuse, employment relation, fairness, reputation

Use and Abuse of Authority: A Behavioral Foundation of the Employment Relation

CEPR Discussion Paper No. DP9231
Number of pages: 40 Posted: 01 Feb 2013
Björn Bartling, Ernst Fehr and Klaus M. Schmidt
University of Zurich - Department of Economics, University of Zurich - Department of Economics and Ludwig Maximilian University of Munich (LMU) - Faculty of Economics
Downloads 6 (1,177,585)
Citation 2
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authority, employment relation, fairness, power abuse, reputation, theory of the firm, transaction cost economics

4.

Contracts, Fairness, and Incentives

Number of pages: 51 Posted: 24 May 2004
Ernst Fehr, Alexander Klein and Klaus M. Schmidt
University of Zurich - Department of Economics, Ludwig Maximilian University of Munich (LMU) - Faculty of Economics and Ludwig Maximilian University of Munich (LMU) - Faculty of Economics
Downloads 631 (82,332)

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Moral hazard, incentives, bonus contract, fairness, inequity aversion

Pay What You Want as a Marketing Strategy in Monopolistic and Competitive Markets

Forthcoming in Management Science
Number of pages: 39 Posted: 21 Dec 2012 Last Revised: 03 Mar 2014
Klaus M. Schmidt, Martin Spann and Robert Zeithammer
Ludwig Maximilian University of Munich (LMU) - Faculty of Economics, Ludwig Maximilian University of Munich (LMU) and University of California, Los Angeles (UCLA) - Anderson School of Management
Downloads 402 (140,934)
Citation 10

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customer-driven pricing mechanisms, pay what you want, revenue management, price discrimination, social preferences

Pay What You Want as a Marketing Strategy in Monopolistic and Competitive Markets

CESifo Working Paper Series No. 5069
Number of pages: 40 Posted: 02 Dec 2014
Klaus M. Schmidt, Martin Spann and Robert Zeithammer
Ludwig Maximilian University of Munich (LMU) - Faculty of Economics, Ludwig Maximilian University of Munich (LMU) and University of California, Los Angeles (UCLA) - Anderson School of Management
Downloads 149 (375,844)
Citation 3

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customer-driven pricing mechanisms, pay what you want, price discrimination, revenue management, social preferences

6.
Downloads 475 (117,034)
Citation 4

Fairness, Incentives and Contractual Incompleteness

Number of pages: 42 Posted: 01 Mar 2001
Ernst Fehr, Alexander Klein and Klaus M. Schmidt
University of Zurich - Department of Economics, Ludwig Maximilian University of Munich (LMU) - Faculty of Economics and Ludwig Maximilian University of Munich (LMU) - Faculty of Economics
Downloads 453 (122,443)
Citation 15

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Incentive Contracts, Moral Hazard, Fairness, Reciprocity, Incomplete Contracts

Fairness, Incentives and Contractual Incompleteness

Number of pages: 46 Posted: 10 May 2001
Ernst Fehr, Alexander Klein and Klaus M. Schmidt
University of Zurich - Department of Economics, Ludwig Maximilian University of Munich (LMU) - Faculty of Economics and Ludwig Maximilian University of Munich (LMU) - Faculty of Economics
Downloads 22 (993,507)
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Fairness, incentive contracts, incomplete contracts, moral hazard, reciprocity

Screening, Competition, and Job Design: Economic Origins of Good Jobs

Number of pages: 41 Posted: 18 Jan 2010 Last Revised: 10 Mar 2011
Björn Bartling, Ernst Fehr and Klaus M. Schmidt
University of Zurich - Department of Economics, University of Zurich - Department of Economics and Ludwig Maximilian University of Munich (LMU) - Faculty of Economics
Downloads 311 (186,810)
Citation 5

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job design, high-performance work systems, screening, competition, work attitude, reputation, trust, control, complementarities

Screening, Competition, and Job Design: Economic Origins of Good Jobs

IZA Discussion Paper No. 4710
Number of pages: 46 Posted: 01 Feb 2010
Björn Bartling, Ernst Fehr and Klaus M. Schmidt
University of Zurich - Department of Economics, University of Zurich - Department of Economics and Ludwig Maximilian University of Munich (LMU) - Faculty of Economics
Downloads 139 (397,519)
Citation 1

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job design, high-performance work systems, screening, reputation, competition, trust, control, social preferences, complementarities

Screening, Competition, and Job Design: Economic Origins of Good Jobs

CEPR Discussion Paper No. DP7658
Number of pages: 47 Posted: 08 Feb 2010
Björn Bartling, Ernst Fehr and Klaus M. Schmidt
University of Zurich - Department of Economics, University of Zurich - Department of Economics and Ludwig Maximilian University of Munich (LMU) - Faculty of Economics
Downloads 5 (1,189,225)
Citation 20
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competition, complementarities, control, high-performance work systems, job design, reputation, screening, social preferences, trust

Public Subsidies for Open Source? Some Economic Policy Issues of the Software Market

Number of pages: 37 Posted: 22 Aug 2002
Klaus M. Schmidt and Monika Schnitzer
Ludwig Maximilian University of Munich (LMU) - Faculty of Economics and University of Munich - Department of Economics
Downloads 397 (143,023)
Citation 23

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Software Market, Open Source, Public Goods, Innovation Incentives, Public Subsidies

Public Subsidies for Open Source? Some Economic Policy Issues of the Software Market

Number of pages: 41 Posted: 15 Apr 2003
Klaus M. Schmidt and Monika Schnitzer
Ludwig Maximilian University of Munich (LMU) - Faculty of Economics and University of Munich - Department of Economics
Downloads 34 (876,424)
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Software market, open source, innovation incentives, public goods, public subsidies

9.

Fairness, Incentives, and Contractual Choices

Institute for Empirical Research in Economics Working Paper No. 20
Number of pages: 15 Posted: 20 Feb 2000
Ernst Fehr and Klaus M. Schmidt
University of Zurich - Department of Economics and Ludwig Maximilian University of Munich (LMU) - Faculty of Economics
Downloads 400 (143,109)
Citation 79

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10.
Downloads 366 (158,042)
Citation 16

Fairness and the Optimal Allocation of Ownership Rights

Number of pages: 34 Posted: 27 Jan 2005
Ernst Fehr, Susanne Kremhelmer and Klaus M. Schmidt
University of Zurich - Department of Economics, University of Munich - Department of Economics and Ludwig Maximilian University of Munich (LMU) - Faculty of Economics
Downloads 343 (168,228)
Citation 1

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Ownership rights, double moral hazard, fairness, reciprocity, incomplete contracts

Fairness and the Optimal Allocation of Ownership Rights

CEPR Discussion Paper No. 5369
Number of pages: 34 Posted: 13 Feb 2006
Ernst Fehr, Susanne Kremhelmer and Klaus M. Schmidt
University of Zurich - Department of Economics, University of Munich - Department of Economics and Ludwig Maximilian University of Munich (LMU) - Faculty of Economics
Downloads 23 (982,588)
Citation 2
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Ownership rights, double moral hazard, fairness, reciprocity, incomplete contracts

Licensing Complementary Patents and Vertical Integration

Number of pages: 33 Posted: 11 Nov 2006
Klaus M. Schmidt
Ludwig Maximilian University of Munich (LMU) - Faculty of Economics
Downloads 316 (183,664)
Citation 7

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Complementary patents, licensing, IP rights, vertical integration

Licensing Complementary Patents and Vertical Integration

CEPR Discussion Paper No. 5987
Number of pages: 35 Posted: 01 Feb 2007
Klaus M. Schmidt
Ludwig Maximilian University of Munich (LMU) - Faculty of Economics
Downloads 15 (1,073,218)
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Complementary patents, licensing, IP rights, vertical integration

12.

The Role of Equality, Efficiency, and Rawlsian Motives in Social Preferences: A Reply to Engelmann and Strobel

Zurich IEER Working Paper No. 179
Number of pages: 15 Posted: 02 Jul 2004
Ernst Fehr and Klaus M. Schmidt
University of Zurich - Department of Economics and Ludwig Maximilian University of Munich (LMU) - Faculty of Economics
Downloads 327 (178,481)
Citation 23

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Social Preferences, Inequity Aversion, Efficiency preferences

13.

Conditional Allocation of Control Rights in Venture Capital Finance

Number of pages: 20 Posted: 30 Jun 2006
Georg Gebhardt and Klaus M. Schmidt
Ludwig Maximilian University of Munich (LMU) - Seminar for Theoretical Economics and Ludwig Maximilian University of Munich (LMU) - Faculty of Economics
Downloads 319 (183,208)
Citation 4

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Corporate Finance, Venture Capital, Control Rights, Convertible Securities

14.

Reference Points, Social Norms, and Fairness in Contract Renegotiations

Forthcoming: Journal of the European Economic Association
Number of pages: 39 Posted: 03 Aug 2012 Last Revised: 18 Mar 2014
Björn Bartling and Klaus M. Schmidt
University of Zurich - Department of Economics and Ludwig Maximilian University of Munich (LMU) - Faculty of Economics
Downloads 308 (190,144)
Citation 10

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renegotiation, bargaining, reference points, contracts, competition

15.

Fairness and Incentives in a Multi-Task Principal-Agent Model

Number of pages: 25 Posted: 24 May 2004
Ernst Fehr and Klaus M. Schmidt
University of Zurich - Department of Economics and Ludwig Maximilian University of Munich (LMU) - Faculty of Economics
Downloads 302 (194,188)
Citation 26

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Incentives, moral hazard, multiple tasks, fairness, experiments

16.

Discrete-Time Approximations of the Holmstrom-Milgrom Brownian-Motion Model of Intertemporal Incentive Provision

Number of pages: 57 Posted: 16 Aug 2001
Martin F. Hellwig and Klaus M. Schmidt
Max Planck Institute for Research on Collective Goods and Ludwig Maximilian University of Munich (LMU) - Faculty of Economics
Downloads 254 (231,604)
Citation 10

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Principal-agent problems, linear incentive schemes, intertemporal incentive provision, Brownian motion

17.

Delegating Pricing Power to Customers: Pay What You Want or Name Your Own Price?

Number of pages: 47 Posted: 09 May 2015 Last Revised: 21 Jan 2017
Florentin Krämer, Klaus M. Schmidt, Martin Spann and Lucas Stich
Ludwig Maximilian University of Munich (LMU) - Faculty of Economics, Ludwig Maximilian University of Munich (LMU) - Faculty of Economics, Ludwig Maximilian University of Munich (LMU) and University of Würzburg - Business Administration & Economics
Downloads 239 (245,929)
Citation 1

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Customer-driven pricing mechanisms, Pay What You Want, Name Your Own Price, Competitive Strategies, Marketing, Laboratory Experiment

18.

Loss Aversion and Ex Post Inefficient Renegotiation

CESifo Working Paper Series No. 4031
Number of pages: 48 Posted: 03 Jan 2013
Fabian Herweg and Klaus M. Schmidt
University of Bayreuth - Faculty of Law, Business and Economics and Ludwig Maximilian University of Munich (LMU) - Faculty of Economics
Downloads 161 (352,250)
Citation 17

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renegotiation, incomplete contracts, reference points, employment contracts, behavioral contract theory

19.
Downloads 158 (357,796)
Citation 23

You Owe Me

CESifo Working Paper Series No. 4007
Number of pages: 53 Posted: 05 Dec 2012
Ulrike Malmendier and Klaus M. Schmidt
University of California, Berkeley - Department of Economics and Ludwig Maximilian University of Munich (LMU) - Faculty of Economics
Downloads 123 (437,811)

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gift exchange, externalities, lobbyism, corruption, reciprocity, social preferences

You Owe Me

NBER Working Paper No. w18543
Number of pages: 53 Posted: 20 Nov 2012 Last Revised: 03 Mar 2023
Ulrike Malmendier and Klaus M. Schmidt
University of California, Berkeley - Department of Economics and Ludwig Maximilian University of Munich (LMU) - Faculty of Economics
Downloads 32 (894,307)
Citation 1

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You Owe Me

CEPR Discussion Paper No. DP9230
Number of pages: 55 Posted: 01 Feb 2013
Ulrike Malmendier and Klaus M. Schmidt
University of California, Berkeley - Department of Economics and Ludwig Maximilian University of Munich (LMU) - Faculty of Economics
Downloads 3 (1,213,082)
Citation 16
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corruption, externalities, gift exchange, lobbyism, reciprocity, social preferences

20.

Discretion, Productivity, and Work Satisfaction

Number of pages: 21 Posted: 30 Jun 2012
Björn Bartling, Ernst Fehr and Klaus M. Schmidt
University of Zurich - Department of Economics, University of Zurich - Department of Economics and Ludwig Maximilian University of Munich (LMU) - Faculty of Economics
Downloads 145 (383,776)
Citation 1

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high-performance work systems, wages, discretion, gift exchange, job satisfaction

21.
Downloads 144 (385,826)
Citation 16

Complementary Patents and Market Structure

Number of pages: 35 Posted: 06 Oct 2008
Klaus M. Schmidt
Ludwig Maximilian University of Munich (LMU) - Faculty of Economics
Downloads 132 (414,296)
Citation 9

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IP rights, complementary patents, standards, licensing, patent pool, vertical integration

Complementary Patents and Market Structure

CEPR Discussion Paper No. DP7005
Number of pages: 39 Posted: 18 Dec 2008
Klaus M. Schmidt
Ludwig Maximilian University of Munich (LMU) - Faculty of Economics
Downloads 12 (1,107,988)
Citation 3
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complementary patents, IP rights, licensing, patent pool, standards, vertical integration

22.
Downloads 122 (438,860)
Citation 7

Two Tales on Resale

MPI Collective Goods Preprint Paper No. 2007/16
Number of pages: 39 Posted: 17 Dec 2007
Felix Höffler and Klaus M. Schmidt
WHU - Otto Beisheim School of Management and Ludwig Maximilian University of Munich (LMU) - Faculty of Economics
Downloads 121 (443,443)
Citation 1

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Resale regulation, wholesale, spatial product differentiation, non-spatial product

Two Tales on Resale

CEPR Discussion Paper No. DP6248
Number of pages: 39 Posted: 22 May 2008
Felix Höffler and Klaus M. Schmidt
WHU - Otto Beisheim School of Management and Ludwig Maximilian University of Munich (LMU) - Faculty of Economics
Downloads 1 (1,239,785)
Citation 2
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non-spatial product differentiation, resale regulation, spatial product differentiation, vertical restraints, wholesale

23.

Paying for Open Access

Number of pages: 32 Posted: 20 Nov 2020 Last Revised: 08 Aug 2023
Lucas Stich, Martin Spann and Klaus M. Schmidt
University of Würzburg - Business Administration & Economics, Ludwig Maximilian University of Munich (LMU) and Ludwig Maximilian University of Munich (LMU) - Faculty of Economics
Downloads 120 (444,385)
Citation 1

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Open Access, Willingness to Pay, Choice-Based Conjoint Analysis, Pay-What-You-Want, Field Experiment

Auctions vs. Negotiations: The Effects of Inefficient Renegotiation

CESifo Working Paper Series No. 5268
Number of pages: 36 Posted: 09 Apr 2015
Fabian Herweg and Klaus M. Schmidt
University of Bayreuth - Faculty of Law, Business and Economics and Ludwig Maximilian University of Munich (LMU) - Faculty of Economics
Downloads 82 (581,810)
Citation 2

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auctions, negotiations, procurement, renegotiation, adaptation costs, loss aversion, behavioral contract theory

Auctions vs. Negotiations: The Effects of Inefficient Renegotiation

CEPR Discussion Paper No. DP10284
Number of pages: 48 Posted: 08 Dec 2014
Fabian Herweg and Klaus M. Schmidt
University of Bayreuth - Faculty of Law, Business and Economics and Ludwig Maximilian University of Munich (LMU) - Faculty of Economics
Downloads 0
Citation 2
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adaptation costs, auctions, behavioral contract theory, loss aversion, negotiations, procurement, renegotiations

25.

The Role of Experiments for the Development of Economic Theories

Number of pages: 20 Posted: 26 Jan 2009
Klaus M. Schmidt
Ludwig Maximilian University of Munich (LMU) - Faculty of Economics
Downloads 42 (790,795)
Citation 7

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Economic experiments, economic theories, falsification, confirmation, phenomena, models

26.

Conditional Allocation of Control Rights in Venture Capital Firms

CEPR Discussion Paper No. 5758
Number of pages: 22 Posted: 17 Aug 2006
Klaus M. Schmidt and Georg Gebhardt
Ludwig Maximilian University of Munich (LMU) - Faculty of Economics and Ludwig Maximilian University of Munich (LMU) - Seminar for Theoretical Economics
Downloads 30 (886,736)
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Corporate finance, venture capital, control rights, convertible securities

27.

The Role of Equality and Efficiency in Social Preferences

CEPR Discussion Paper No. 5368
Number of pages: 13 Posted: 13 Feb 2006
Ernst Fehr, Michael Naef and Klaus M. Schmidt
University of Zurich - Department of Economics, University of London, Royal Holloway College - Department of Economics and Ludwig Maximilian University of Munich (LMU) - Faculty of Economics
Downloads 21 (973,285)
Citation 6
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Social preferences, inequity aversion, preferences for efficiency

28.

Fairness and Incentives in a Multi-Task Principle-Agent Model

Number of pages: 28 Posted: 05 Aug 2004
Ernst Fehr and Klaus M. Schmidt
University of Zurich - Department of Economics and Ludwig Maximilian University of Munich (LMU) - Faculty of Economics
Downloads 15 (1,037,754)
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Incentives, moral hazard, multiple tasks, fairness, experiments

29.

How to Regulate Carbon Emissions with Climate-Conscious Consumers

CEPR Discussion Paper No. DP16985
Number of pages: 46 Posted: 04 Feb 2022
Fabian Herweg and Klaus M. Schmidt
University of Bayreuth - Faculty of Law, Business and Economics and Ludwig Maximilian University of Munich (LMU) - Faculty of Economics
Downloads 2 (1,177,591)
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Behavioral Industrial Organization, cap-and-trade, Carbon Pricing, carbon tax, climate change

30.

Procurement with Unforeseen Contingencies

CEPR Discussion Paper No. DP12385
Number of pages: 44 Posted: 23 Oct 2017
Fabian Herweg and Klaus M. Schmidt
University of Bayreuth - Faculty of Law, Business and Economics and Ludwig Maximilian University of Munich (LMU) - Faculty of Economics
Downloads 0 (1,201,879)
Citation 1
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Adaptation Costs, auctions, Behavioral Contract Theory, Design Flaws, Procurement, Renegotiation

31.

Delegating Pricing Power to Customers: Pay What You Want or Name Your Own Price

CEPR Discussion Paper No. DP10605
Number of pages: 40 Posted: 19 May 2015
Florentin Krämer, Klaus M. Schmidt, Martin Spann and Lucas Stich
Ludwig Maximilian University of Munich (LMU) - Faculty of Economics, Ludwig Maximilian University of Munich (LMU) - Faculty of Economics, Ludwig Maximilian University of Munich (LMU) and University of Würzburg - Business Administration & Economics
Downloads 0 (1,201,879)
Citation 2
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competitive strategies, consumer-driven pricing mechanisms, name your own price, pay what you want

32.

On Inequity Aversion: A Reply to Binmore and Shaked

Posted: 10 Mar 2009
Ernst Fehr and Klaus M. Schmidt
University of Zurich - Department of Economics and Ludwig Maximilian University of Munich (LMU) - Faculty of Economics

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Experiments, other-regarding preferences, inequity aversion

33.

The Economics of Covenants as a Means of Efficient Creditor Protection

European Business Organization Law Review (EBOR), Vol. 7, 2006
Posted: 19 Feb 2007
Klaus M. Schmidt
Ludwig Maximilian University of Munich (LMU) - Faculty of Economics

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covenants, creditor protection, agency costs of debt, renegotiation

34.

Option Contracts and Renegotiation - a Solution to the Hold-Up Problem

Posted: 22 Sep 2004
Georg Nöldeke, Georg Nöldeke and Klaus M. Schmidt
University of BaselUniversity of Basel and Ludwig Maximilian University of Munich (LMU) - Faculty of Economics

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Incomplete contracts, hold-up problem

35.

Sequential Investments and Options to Own

Posted: 13 Aug 1998
Klaus M. Schmidt, Georg Nöldeke and Georg Nöldeke
Ludwig Maximilian University of Munich (LMU) - Faculty of Economics and University of BaselUniversity of Basel

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36.

Methods of Privatization: Auctions, Bargaining, and Give-Aways

CEPR Discussion Paper Series No. 1541
Posted: 02 Apr 1997
Klaus M. Schmidt and Monika Schnitzer
Ludwig Maximilian University of Munich (LMU) - Faculty of Economics and University of Munich - Department of Economics

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The Political Economy of Mass Privatization and the Risk of Expropriation

CEPR Discussion Paper No. 1542
Posted: 19 Mar 1997
Klaus M. Schmidt
Ludwig Maximilian University of Munich (LMU) - Faculty of Economics

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The Political Economy of Mass Privatization and the Risk of Expropriation

European Economic Review, Vol. 44, No. 2, December 17, 1999
Posted: 02 Feb 2000
Klaus M. Schmidt
Ludwig Maximilian University of Munich (LMU) - Faculty of Economics

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