Showing 1 - 10 of 14
We consider the cost of providing incentives through tournaments when workers are inequity averse and performance … envy depending on the costs of assessing performance. More envious employees are preferred when these costs are high, less …
Persistent link: https://www.econbiz.de/10005696268
The first generation models of currency crises have often been criticized because they predict that, in the absence of very large triggering shocks, currency attacks should be predictable and lead to small devaluations. This paper shows that these features of first generation models are not...
Persistent link: https://www.econbiz.de/10005136490
The rst generation models of currency crises have often been criticized because they predict that, in the absence of very large triggering shocks, currency attacks should be predictable and lead to small devaluations. This paper shows that these features of rst generation models are not robust...
Persistent link: https://www.econbiz.de/10010547109
The first generation models of currency crises have often been criticized because they predict that, in the absence of very large triggering shocks, currency attacks should be predictable and lead to small devaluations. This paper shows that these features of first generation models are not...
Persistent link: https://www.econbiz.de/10010547265
A vast body of empirical studies lends support to the incentive effects of rank-order tournaments. Evidence comes from … tournaments may bias these non-experimental studies, whereas short task duration or lack of distracters may limit the external … where students selected themselves into tournaments with different prizes. Within each tournament the best performing …
Persistent link: https://www.econbiz.de/10005136509
A large theoretical literature shows that competition reduces banks' franchise values and induces them to take more risk. Recent research contradicts this result: When banks charge lower rates, their borrowers have an incentive to choose safer investments, so they will in turn be safer. However,...
Persistent link: https://www.econbiz.de/10005124382
We characterize how public insurance schemes are constrained by hidden financial transactions. When non-exclusive private insurance entails increasing unit transaction costs, public transfers are only partly offset by hidden private transactions, and can influence consumption allocation. We show...
Persistent link: https://www.econbiz.de/10008682880
How damaging is competition between bank regulators? This paper models regulators that compete because they want to supervise more banks. Both banks' risk profiles and their access to wholesale funding are endogenous, leading to rich interactions. The sensitivity of regulatory standards to bank...
Persistent link: https://www.econbiz.de/10008577817
We discuss the difficult question of measuring the effects of asymmetric information problems on resource allocation. Three problems are examined: moral hazard, adverse selection, and asymmetric learning. One theoretical conclusion, drawn by many authors, is that information problems may...
Persistent link: https://www.econbiz.de/10010570021
We propose a model based on competitive markets in order to analyse an economy with several homogeneous landlords and heterogeneous tenants. We model the landlord- tenant economy as a two-sided matching game and characterise the equilibrium of this market. In equilibrium, contracts are Pareto...
Persistent link: https://www.econbiz.de/10010851498