... on a common aspect of real-world contracts: payoff ambiguity. With payoff ambiguity, employees provide effort without knowing how much pay they will receive for a given level of performance. According to our theory, this ambiguity opens the door for employee optimism, which has contrasting effects under each...

... in Appendix A. Editor's note: Accepted by Laurence van Lent, under the Senior Editorship of Mary E. Barth. 1 4 2020 1 4 2021 2022 weather-induced mood optimism management earnings forecasts Reason is, and ought to be, the slave of the passions, and can never pretend...