The DOI matches its Crossref record; 141 of the 141 references it cites were found in a registry or an index.
Behavioral Contract Theory
Abstract
This review provides a critical survey of psychology-and-economics (“behavioral-economics”) research in contract theory. First, I introduce the theories of individual decision making most frequently used in behavioral contract theory, and formally illustrate some of their implications in contracting settings. Second, I provide a more comprehensive (but informal) survey of the psychology-and-economics work on classical contract-theoretic topics: moral hazard, screening, mechanism design, and incomplete contracts. I also summarize research on a new topic spawned by psychology and economics, exploitative contracting, that studies contracts designed primarily to take advantage of agent mistakes. (JEL A12, D03, D82, D86)
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Cites
Prospect Theory: An Analysis of Decision under Risk
Kahneman, D., & Tversky, A. (1979) · Econometrica · doi:10.2307/1914185 · Cited by 48,524
Prospect theory: An analysis of decision under risk
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A Theory of Fairness, Competition, and Cooperation
Fehr, E., & Schmidt, K. M. (1999) · The Quarterly Journal of Economics · doi:10.1162/003355399556151 · Cited by 11,264
The Costs and Benefits of Ownership: A Theory of Vertical and Lateral Integration
Grossman, S. J., & Hart, O. D. (1986) · Journal of Political Economy · doi:10.1086/261404 · Cited by 9,352
Moral Hazard and Observability
Holmstrom, B. (1979) · The Bell Journal of Economics · doi:10.2307/3003320 · Cited by 8,311
Journal of Economic Literature
(2019) · AEA Papers and Proceedings · doi:10.1257/pandp.109.633 · Cited by 7,468
Deci, E. L., Koestner, R., & Ryan, R. M. (1999) · Psychological Bulletin · doi:10.1037/0033-2909.125.6.627 · Cited by 7,176
Cited by
Fischer, S., & Grosch, K. (2025) · Games and Economic Behavior · doi:10.1016/j.geb.2025.05.012 · Cited by 1
Metadata
- Authors
- Kőszegi, B.
- Venue
- Journal of Economic Literature
- Publisher
- American Economic Association
- Published
- 2014-12-01
- Volume
- 52
- Issue
- 4
- Pages
- 1075-1118
- ISSN
- 0022-0515 (ISSN-L)
- OpenAlex
- W2145283456
- Cited by
- 317
- References
- 141
- FWCI
- 28.80
- Type
- journal article
- Language
- en
- Open access
- closed
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.