Related papers: Labor Contract Law -An Economic View
We study a multi-agent contract design problem with moral hazard. In our model, each agent exerts costly effort towards an individual task at which it may either succeed or fail, and the principal, who wishes to encourage effort, has an…
An employer contracts with a worker to incentivize efforts whose productivity depends on ability; the worker then enters a market that pays him contingent on ability evaluation. With non-additive monitoring technology, the interdependence…
In this paper, I investigate the 2017 labor market reform in Benin, which reduced firing costs and allowed firms to renew short-term contracts indefinitely. Using micro-data from the Harmonized Household Living Standards Surveys and a…
We study a set of high-profile scams that were well engineered and have hit people hard in China in recent years. We propose a simple but novel theoretical framework to examine psychological, situational and social fabric factors that have…
In a continuous-time setting where a risk-averse agent controls the drift of an output process driven by a Brownian motion, optimal contracts are linear in the terminal output; this result is well-known in a setting with moral hazard and…
Like any technology, AI systems come with inherent risks and potential benefits. It comes with potential disruption of established norms and methods of work, societal impacts and externalities. One may think of the adoption of technology as…
This study reports on the current state-of-affairs in the funding of entrepreneurship and innovations in China and provides a broad survey of academic findings on the subject. We also discuss the implications of these findings for public…
Okun's law for the biggest developed countries is re-estimated using the most recent data on real GDP per capita and the rate of unemployment. Our results show that the change in unemployment rate can be predicted with a high accuracy. The…
Modern society's reliance on power systems is at risk from the escalating effects of wind-related climate change. Yet, failure to identify the intricate relationship between wind-related climate risks and power systems could lead to serious…
Chinese-style modernization involves the modernization of a large population, requiring top-level design in terms of scale and structure. The population perspective in Xi Jinping's Thought on Socialism with Chinese Characteristics for a New…
The increasing attention given to AI Generated Content (AIGC) has brought a profound impact on various aspects of daily life, industrial manufacturing, and the academic sector. Recognizing the global trends and competitiveness in AIGC…
Occupational segregation is widely considered as one major reason leading to the gender discrimination in labor market. Using large-scale Chinese resume data of online job seekers, we uncover an interesting phenomenon that occupations with…
We suggest that the analysis of incomplete contracting developed by law and economics researchers can provide a useful framework for understanding the AI alignment problem and help to generate a systematic approach to finding solutions. We…
We investigate structural change in the PR China during a period of particularly rapid growth 1998-2014. For this, we utilize sectoral data from the World Input-Output Database and firm-level data from the Chinese Industrial Enterprise…
Large language models (LLMs), including both proprietary and open-source models, have showcased remarkable capabilities in addressing a wide range of downstream tasks. Nonetheless, when it comes to practical Chinese legal tasks, these…
The coronavirus disease 2019 bursted out about two months ago in Wuhan has caused the death of more than a thousand people. China is fighting hard against the epidemics with the helps from all over the world. On the other hand, there appear…
Sex education helps children obtain knowledge and awareness of sexuality, and protects them against sexually transmitted diseases, pregnancy, and sexual abuse. Sex education is not well taught to children in China -- both school-based…
The expression "wage transition" refers to the fact that over the past two or three decades in all developed economies wage increases have levelled off. There has been a widening divergence and decoupling between wages on the one hand and…
Either saying that the market is structured to promote workforce exploitation in some sections or the people who participate there benefit from the existing structure and exploit, exploitation happens - systematically or opportunistically.…
Contract scheduling is a general technique that allows to design a system with interruptible capabilities, given an algorithm that is not necessarily interruptible. Previous work on this topic has largely assumed that the interruption is a…