Contracts as Reference Points - Experimental Evidence
---- Acknowledgements -----
We would like to thank Philippe Aghion, Bjorn Bartling, Tore Ellingsen, Ray Fisman, Bob Gibbons, Steve Leider, Bentley MacLeod, Al Roth, Klaus Schmidt, and Birger Wernerfelt for helpful comments. We would like to acknowledge financial support from the U.S. National Science Foundation through the National Bureau for Economic Research and the Research Priority Program of the University of Zurich on the "Foundations of Human Social Behavior." The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.