학술저널
This study explores how institutional ambiguity in arbitration affects performance-based compensation for legal professionals. Using a principal-agent model with ambiguity-averse agents, it finds that uncertainty leads to lower effort, less outcome-sensitive contracts, and reduced expected profits for firms. The findings extend contract theory and offer practical guidance for legal service contracting under uncertain arbitration outcomes.
Ⅰ. Introduction
Ⅱ. Theoretical Background and Literature Review
Ⅲ. The Model
Ⅳ. Equilibrium Contract
Ⅴ. Ambiguity Effects
Ⅵ. Conclusion
References
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