Contracting in the Absence of Specific Investments and Moral Hazard: Understanding Carrier-Driver Relations in U.S. Trucking

This paper considers functions of contracting other than the protection of relationship-specific investments and the provision of marginal incentives, and applies the theory to explain variation in the form of compensation of over-the-road truck drivers in the U.S. Specifically, we argue that contracts in this industry serve to economize on the costs of price determination for heterogeneous transactions. We show that the actual terms of those contracts vary systematically with the nature of hauls in a way that is consistent with the theory. By contrast, we find that vehicle ownership, which defines a driver's status as an owner operator or company driver, depends on driver, but not trailer or haul, characteristics.

Authority and Commitment: Why Universities, Like Legislatures, Are Not Organized as Firms

Peer Reviewedhttp://deepblue.lib.umich.edu/bitstream/2027.42/71954/1/j.1530-9134.2006.00113.x.pd

On the Evolution of Collective Enforcement Institutions: Communities and Courts

We analyze the capacities of communities (or social networks) and courts to secure cooperation among heterogeneous, impersonal transactors. We find that communities and courts are complementary in that they tend to support cooperation for different types of transactions but that the existence of courts weakens the effectiveness of community enforcement. Our findings are consistent with the emergence of the medieval Law Merchant and its subsequent supersession by state courts as changes in the costs and risks of long-distance trade, driven in part by improvement in shipbuilding methods, altered the characteristics of merchant transactions over the course of the Commercial Revolution in Europe. We then contrast the European experience with the evolution of enforcement institutions in Asia over the same period.http://deepblue.lib.umich.edu/bitstream/2027.42/89968/1/1169_Masten.pdfhttp://deepblue.lib.umich.edu/bitstream/2027.42/89968/4/1169_Masten_Sept12.pdfhttp://deepblue.lib.umich.edu/bitstream/2027.42/89968/6/1169_masten_apr13.pdfhttp://deepblue.lib.umich.edu/bitstream/2027.42/89968/8/1169_Masten_Feb14.pd

Ethics vs. economics: The issue of free trade with Mexico

The authors, one an ethicist and the other an economist, look at the issue of free trade with Mexico and other low wage rate countries from the viewpoints of their disciplines. The conclusion of the paper is that these disciplines differ on their priorities and analytical methods, not on their objectives.Peer Reviewedhttp://deepblue.lib.umich.edu/bitstream/2027.42/42515/1/10551_2004_Article_BF00871899.pd

Vertical integration and firm boundaries : the evidence

Since Ronald H. Coase's (1937) seminal paper, a rich set of theories has been developed that deal with firm boundaries in vertical or input–output structures. In the last twenty-five years, empirical evidence that can shed light on those theories also has been accumulating. We review the findings of empirical studies that have addressed two main interrelated questions: First, what types of transactions are best brought within the firm and, second, what are the consequences of vertical integration decisions for economic outcomes such as prices, quantities, investment, and profits. Throughout, we highlight areas of potential cross-fertilization and promising areas for future work

Cancer during Adolescence: Negative and Positive Consequences Reported Three and Four Years after Diagnosis

Persons diagnosed with cancer during adolescence have reported negative and positive cancer-related consequences two years after diagnosis. The overall aim was to longitudinally describe negative and positive cancer-related consequences reported by the same persons three and four years after diagnosis. A secondary aim was to explore whether reports of using vs. not using certain coping strategies shortly after diagnosis are related to reporting or not reporting certain consequences four years after diagnosis. Thirty-two participants answered questions about coping strategies shortly after diagnosis and negative and positive consequences three and four years after diagnosis. Answers about consequences were analysed with content analysis, potential relations between coping strategies and consequences were analysed by Fisher's exact test. The great majority reported negative and positive consequences three and four years after diagnosis and the findings indicate stability over time with regard to perceived consequences during the extended phase of survival. Findings reveal a potential relation between seeking information shortly after diagnosis and reporting a more positive view of life four years after diagnosis and not using fighting spirit shortly after diagnosis and not reporting good self-esteem and good relations four years after diagnosis. It is concluded that concomitant negative and positive cancer-related consequences appear stable over time in the extended phase of survival and that dialectical forces of negative and positive as well as distress and growth often go hand-in-hand after a trauma such as cancer during adolescence

Positive Psychology in Sales: Integrating Psychological Capital

As positive psychology moves into the workplace, researchers have been able to demonstrate the desirable impact of positive organizational behavior. Specifically, psychological capital (PsyCap) improves employee attitudes, behaviors, and performance. Advancing PsyCap in sales research is important given the need for a comprehensive positive approach to drive sales performance, offset the high cost of salesperson turnover, improve cross-functional sales interfaces, and enrich customer relationships. The authors provide an integrative review of PsyCap, discuss its application in sales, and advance an agenda for future research. Research prescriptions are organized according to individual-level, intra-organizational, and extra-organizational outcomes pertinent to the sales field