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Optimal Student Loans and Graduate Tax under Moral Hazard and Adverse Selection

Gary-Bobo, Robert J.; Trannoy, Alain - CESifo - 2013

We completely characterize the set of second-best optimal “menus”of student-loan contracts in a simple economy with risky labour-market outcomes, adverse selection, moral hazard and risk aversion. The model combines structured student loans and an elementary optimal income-tax problem à la...

Persistent link: https://www.econbiz.de/10010668475

Optimal Student Loans and Graduate Tax under Moral Hazard and Adverse Selection

Gary-Bobo, Robert J.; Trannoy, Alain - C.E.P.R. Discussion Papers - 2013

We completely characterize the set of second-best optimal "menus" of student-loan contracts in a simple economy with risky labour-market outcomes, adverse selection, moral hazard and risk aversion. The model combines structured student loans and an elementary optimal income-tax problem à la...

Persistent link: https://www.econbiz.de/10011084475

Risk Aversion and Human Capital Investment: A Structural Econometric Model

Brodaty, Thomas; Gary-Bobo, Robert J.; Prieto, Ana - C.E.P.R. Discussion Papers - 2006

We propose to model individual educational investments as a rational decision, maximizing expected utility, conditional on some characteristics observed by the student, under the combined risks affecting future wages and schooling duration. Assuming that students' attitudes toward risk can be...

Persistent link: https://www.econbiz.de/10005123629

Birth Order and Sibship Sex Composition as Instruments in the Study of Education and Earnings

Gary-Bobo, Robert J.; Picard, Natalie; Prieto, Ana - C.E.P.R. Discussion Papers - 2006

This paper presents an empirical study of birth-order and sibship sex-composition effects on educational achievement, and uses these variables as instruments to estimate returns to education, with the help of a rich set of individual data. Our sample includes more than 12,000 men and 10,000...

Persistent link: https://www.econbiz.de/10005124292

Efficient Tuition & Fees, Examinations and Subsidies

Gary-Bobo, Robert J.; Trannoy, Alain - C.E.P.R. Discussion Papers - 2005

when they maximize rents. If capital markets are perfect, and if test results are public knowledge, then, there is no …

Persistent link: https://www.econbiz.de/10005136530

Carl Menger and Friedrich von Wieser on the role of knowledge and beliefs

Festré, Agnès - HAL - 2012

Persistent link: https://www.econbiz.de/10010820555

Knowledge and individual behaviour in the Austrian tradition of business cycles: von Mises vs. Hayek

Festré, Agnès - HAL - 2003

in Mises and Hayek's explanations of the different hases of the trade cycle, by underlying the role played by knowledge …

Persistent link: https://www.econbiz.de/10008790672

Macroeconomic analysis and individual economic rationality: some lessons from Wicksell to Schumpeter and von Mises

Arena, Richard; Festré, Agnès - HAL - 2005

The purpose of this contribution is to investigate the problem of the room attributed to individual economic rationality by circulation approaches. Our investigation will not privilege however the modern contributions of this approach but will instead utilize the works of some economists of the...

Persistent link: https://www.econbiz.de/10008790813

Introduction

Arena, Richard; Festré, Agnès - HAL - 2006

This book surveys how economists engage with knowledge and beliefs in various fields of economic analysis, such as … perspective on the meaning, as well as the role, of knowledge and beliefs in economics in the future. Possible lines of future … action are discussed.A platform for future research and investigation into the role of knowledge and beliefs in economics …

Persistent link: https://www.econbiz.de/10008791568

Carl Menger and Friedrich von Wieser on the role of knowledge and beliefs

Festré, Agnès - HAL - 2009

Persistent link: https://www.econbiz.de/10008794026