We evaluate the effect of the recently approved transfer system for European professional
football which will replace the current system (implemented by the Bosman judgment in …

We analyze the impact of three different transfer fee systems on payoffs, contract lengths,
training and effort incentives in European football. The different regimes, being used until …

Recent theoretical research has identified many ways how contracts can be used as rent‐
seeking devices vis‐à‐vis third parties, but there is no empirical evidence on this issue so …

Labor turnover creates longer term career concerns incentives that motivate employees in
addition to the short-term monetary incentives provided by the current employer. We analyze …

We highlight a novel trade-off with the use of breakup fees in employment contracts. Under
asymmetric learning about workers' productivity, the market takes job assignments (or …

We show that when the researcher's (observable but not contractible) contribution to
innovation is crucial, a covenant not to compete (CNC) reduces effort and profits under both …

This study explores how bonding contracts improve employee attraction and retention.
These bonds are payment schemes tied to employment duration, such as the vesting of …

Transfer restrictions have a long tradition in professional sports but came under heavy attack
in recent years (eg Bosman ruling, Monti system). Based on a bargaining model with …

Exclusive employment contracts and collusion on wages are alternative mechanisms that
firms may use to extract surplus from highly productive workers (“stars”). Exclusive …

This paper analyzes economic, legal, behavioral and public policy issues pertaining to the
accounting for employee stock options. The paper explains why employee stock options …