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Third Party Monitoring and Golden Parachutes
Iossa, Elisabetta; Legros, Patrick - C.E.P.R. Discussion Papers - 2001
negative externality (higher effort decreases the expected future quality of the asset) case: it is enough for the principal to … commit to reallocate the right to use the asset at the end of the first period. In the positive externality case (when higher …
Persistent link: https://www.econbiz.de/10005504381
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Nudging with information: a randomized field experiment on reminders and feedback
Calzolari, Giacomo; Nardotto, Mattia - C.E.P.R. Discussion Papers - 2011
Can people be helped to stick to their plans with a little help from information? We provide a theoretical and empirical analysis of the effects of reminders and feedback on investment activities involving up-front costs and delayed benefits, such as education and healthy behavior. By means of a...
Persistent link: https://www.econbiz.de/10009322502
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On the Strategic Use of Attention Grabbers
Eliaz, Kfir; Spiegler, Ran - C.E.P.R. Discussion Papers - 2010
When a firm decides which products to offer or put on display, it takes into account the products' ability to attract attention to the brand name as a whole. Thus, the value of a product to the firm emanates from the consumer demand it directly meets, as well as the indirect demand it generates...
Persistent link: https://www.econbiz.de/10008468565
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Consideration Sets and Competitive Marketing
Eliaz, Kfir; Spiegler, Ran - C.E.P.R. Discussion Papers - 2009
We study a market model in which competing firms use costly marketing devices to influence the set of alternatives which consumers perceive as relevant. Consumers in our model are boundedly rational in the sense that they have an imperfect perception of what is relevant to their decision...
Persistent link: https://www.econbiz.de/10008528545
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Reason-Based Choice: A Bargaining Rationale for the Attraction and Compromise Effects
de Clippel, Geoffroy; Eliaz, Kfir - C.E.P.R. Discussion Papers - 2009
This paper proposes a model of boundedly rational choice that explains the well known attraction and compromise effects. Choices in our model are interpreted as a cooperative solution to a bargaining problem among an individual’s conflicting dual selves. We axiomatically characterize a unique...
Persistent link: https://www.econbiz.de/10004976794
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Loss Aversion and the Asymmetric Transmission of Monetary Policy
Gaffeo, Edoardo; Petrella, Ivan; Pfajfar, Damjan; … - C.E.P.R. Discussion Papers - 2014
There is widespread evidence that monetary policy exerts asymmetric effects on output over contractions and expansions in economic activity, while price responses display no sizeable asymmetry. To rationalize these facts we develop a dynamic general equilibrium model where households’ utility...
Persistent link: https://www.econbiz.de/10011084378
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Political Institutions, Environmental Policy and Growth
Marsiliani, Laura; Renström, Thomas I - C.E.P.R. Discussion Papers - 2004
We analyse the impact of micro-founded political institutions on environmental policy and economic growth. We model an overlapping-generations economy, where individuals differ in preferences over the environment (as well as in age). Labour taxation and capital taxation is used to finance a...
Persistent link: https://www.econbiz.de/10005791516
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Second-Best Carbon Taxation in the Global Economy: The Green Paradox and Carbon Leakage Revisited
van der Ploeg, Frederick - C.E.P.R. Discussion Papers - 2015
Unilateral second-best carbon taxes are analysed in a two-period, two-country model with international trade in final … first best to mitigate adverse Green Paradox effects. Unilateral second-best optimal carbon taxes exceed the first …-best taxes due to an import tariff component. The intertemporal terms of trade effects of the future carbon tax increase current …
Persistent link: https://www.econbiz.de/10011262885
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Inequality, Environmental Protection and Growth
Marsiliani, Laura; Renström, Thomas I - C.E.P.R. Discussion Papers - 2003
We analyse how, in representative democracies, income distribution influences the stringency of environmental policy and economic growth. Individuals (who differ in abilities) live for two periods, working when young and owning capital when old. Externalities are caused by a polluting factor....
Persistent link: https://www.econbiz.de/10005791379
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Can Coasean Bargaining Justify Pigouvian Taxation?
Rosenkranz, Stephanie; Schmitz, Patrick W - C.E.P.R. Discussion Papers - 2004
The fact that according to the celebrated Coase theorem rational parties always try to exploit all gains from trade is usually taken as an argument against the necessity of government intervention through Pigouvian taxation in order to correct externalities. We show that the hold-up problem,...
Persistent link: https://www.econbiz.de/10005661662