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An experiment on learning with limited information : nonconvergence, experimentation cascades, and the advantage of being slow
Friedman, Eric (contributor) - 2000 - [Elektronische Ressource]
Persistent link: https://www.econbiz.de/10001547477
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Managerial incentives and the efficiency of capital structure
Hughes, Joseph P. (contributor) - 2001 - [Elektronische Ressource], rev
Persistent link: https://www.econbiz.de/10001566302
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Estimating managers' utility-maximizing demand for agency goods
Hughes, Joseph P. (contributor);  … - 2003 - [Elektronische Ressource]
An empirical model of managers' demand for agency goods is derived and estimated using the Almost Ideal Demand System … of Deaton and Muellbauer (AER 1980). As in Jensen and Meckling (JFE 1976), we derive managers' demand for agency goods by … maximizing a managerial utility function where managers allocate the potential value of their firm's assets to the consumption of …
Persistent link: https://www.econbiz.de/10001889146
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Managerial incentives and the efficiency of capital structure in US commercial banking
Hughes, Joseph P.; Lang, William W.; Moon, Chuon-geol; … - 2003 - [Elektronische Ressource]. - Rev.
We extend the literature on the effects of managerial entrenchment to consider how safety-net subsidies and financial distress costs interact with managerial incentives to influence capital structure in U.S. commercial banking. Using cross-sectional data on publicly traded, highest-level U.S....
Persistent link: https://www.econbiz.de/10001889399
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Individual sense of fairness : an experimental study
Karni, Edi (contributor); Salmon, Timothy C. (contributor);  … - 2001 - [Elektronische Ressource]
Persistent link: https://www.econbiz.de/10001629582
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Follow the leader? : Evidence on European and US tax competition
Altshuler, Rosanne (contributor);  … - 2003 - [Elektronische Ressource]. - Rev.
Persistent link: https://www.econbiz.de/10001889511
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Follow the leader? : Evidence on European and US tax competition
Altshuler, Rosanne (contributor);  … - 2004 - [Elektronische Ressource]
One of the fundamental problems of the positive theory of income taxation is explaining why the statutory income tax …
Persistent link: https://www.econbiz.de/10001934380
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Implementation and orderings of public information
Campbell, Colin M. (contributor) - 2003 - [Elektronische Ressource]
We explore the relationship between public information and implementable outcomes in an environment characterized by random endowments and private information. We show that if public signals carry no information about private types, then an exact relationship holds: a more informative public...
Persistent link: https://www.econbiz.de/10001751337
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Backward-looking interest-rate rules, interest-rate smoothing, and macroeconomic instability
Benhabib, Jess (contributor);  … - 2003 - [Elektronische Ressource]
The existing literature on the stabilizing properties of interest-rate feedback rules has stressed the perils of linking interest rates to forecasts of future inflation. Such rules have been found to give rise to aggregate fluctuations due to self-fulfilling expectations. In response to this...
Persistent link: https://www.econbiz.de/10001751344
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Accumulation and productivity growth in industrializing economies
Landon-Lane, John S. (contributor);  … - 2003 - [Elektronische Ressource]
Historically, episodes of rapid growth are accompanied by significant structural change. In this paper we therefore aim to quantify the extent to which factor accumulation induces structural change and productivity growth in industrializing economies. To fix ideas we present an extension of...
Persistent link: https://www.econbiz.de/10001751347