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Equilibrium Exchange Rate Policies: Complicit Renegotiation-Proof Outcomes

Mella-Barral, Pierre; Vitale, Paolo - C.E.P.R. Discussion Papers - 2001

Countries can repeatedly and opportunistically renegotiate the terms of agreements to which they can only complicitly assent. Therefore, when attempting to coordinate exchange rate policies, they continuously play partnership games. We develop a reduced form model of exchange rate management...

Persistent link: https://www.econbiz.de/10005662214

Equalizing Wage Differences and Bargaining Power: Evidence from a Panel of French Firms

Cahuc, Pierre; Gianella, Christian; Goux, Dominique; … - C.E.P.R. Discussion Papers - 2002

In this paper, we develop a dynamic model of firm-level bargaining, along the lines of Manning (1993). In this context, we provide a firm level wage equation that explicitly accounts for firm heterogeneity. This wage equation explains inter-firm wage differentials by differences in labour...

Persistent link: https://www.econbiz.de/10005124297

Venture Capital Financing: The Role of Bargaining Power and the Evolution of Informational Asymmetry

Koskinen, Yrjö; Rebello, Michael; Wang, Jun - C.E.P.R. Discussion Papers - 2006

We model a situation where the entrepreneur has an informational advantage during the early stages of an investment project while the venture capitalist has the informational advantage during the later stages. We examine how this evolution of informational asymmetry affects venture investment...

Persistent link: https://www.econbiz.de/10005067345

Debt Concentration and Bargaining Power: Large Banks, Small Banks, and Secondary Prices

Fernández, Raquel; Ozler, Sule - C.E.P.R. Discussion Papers - 1997

Commercial bank debts of developing countries are held by a heterogenous group of banks. Here we focus on the distinction between large international money-centre banks and smaller domestic banks. In particular we investigate the role of debt concentration – the amount of a country’s debt...

Persistent link: https://www.econbiz.de/10005656170

What's the monetary value of distributive justice?

Corneo, Giacomo; Fong, Christina - C.E.P.R. Discussion Papers - 2005

This paper develops a simple theoretical model that can be implemented to estimate the willingness to pay for distributive justice. We derive a formula that allows one to recover the willingness to pay for distributive justice from the estimated coefficients of a probit regression and fiscal...

Persistent link: https://www.econbiz.de/10005792214

Auctions vs Negotiations in Public Procurement: Which Works Better?

Lalive, Rafael; Schmutzler, Armin - C.E.P.R. Discussion Papers - 2011

Public agencies rely on two key modes to procure goods and services: auctions and direct negotiations. The relative … passenger railway services in Germany, where regional agencies can use auctions and negotiations to procure regional passenger … legal framework. We first characterize the decisions of the agency in a simple reduced form framework of negotiations and …

Persistent link: https://www.econbiz.de/10009275960

The Pit and the Pendulum: Arbitration in the British Coal Industry, 1893-1914

Treble, John - C.E.P.R. Discussion Papers - 1989

and show how the induced game can be used to explain certain features of the wage negotiations for which the conciliation …

Persistent link: https://www.econbiz.de/10005666512

Auctions vs. Negotiations

Bulow, Jeremy I.; Klemperer, Paul - C.E.P.R. Discussion Papers - 1994

Which is the more profitable way to sell a company: a public auction or an optimally structured negotiation with a smaller number of bidders? We show that under standard assumptions the public auction is always preferable, even if it forfeits all the seller's negotiating power, including the...

Persistent link: https://www.econbiz.de/10005666938

An Economic Model of Child Custody

Francesconi, Marco; Muthoo, Abhinay - C.E.P.R. Discussion Papers - 2003

This Paper develops a model of child custody based on an incomplete-contract approach to the allocation of property rights. Because of the presence of transaction costs in marriage, altruistic parents cannot contract upon the investments they make into their children, but can reduce the...

Persistent link: https://www.econbiz.de/10005788987

Stable Coalitions

Carraro, Carlo; Marchiori, Carmen - C.E.P.R. Discussion Papers - 2002

This Paper examines recent theoretical developments in the theory of coalition stability. It focuses on the relationship between the incentives to defect from a coalition, the size of the resulting equilibrium coalition structure and the different assumptions on membership rules, coalition...

Persistent link: https://www.econbiz.de/10005791385