Moral Hazard in Leasing Contracts: Evidence from the New York City Taxi Industry

被引：22
|
作者：
Schneider, Henry [1 ]
机构：
[1] Cornell Univ, Ithaca, NY 14853 USA
来源：
JOURNAL OF LAW & ECONOMICS | 2010年 / 53卷 / 04期
关键词：
ASSET OWNERSHIP; MARKETS; INFORMATION; TRUCKING;
D O I：
10.1086/652423
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
In this study, I investigate the effects of moral hazard in leasing contracts by examining the driving outcomes of all long-term lessees and owner-operators of New York City taxis. I find that moral hazard explains a sizable fraction of lessees' accidents, driving violations, and vehicle inspection failures. To address the possibility of endogenous contract choice, I conduct an instrumental variables analysis of the cross section of all drivers and a panel-data analysis of a subset of drivers who switched from leasing to owning.
引用
收藏
页码：783 / 805
页数：23
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