Showing 1 - 10 of 16
; it examines the distinction between instrument rules and targeting rules; and briefly investigates operationality issues …
Persistent link: https://www.econbiz.de/10005667101
A democratic society in which the distribution of wealth is unequal elects political parties which tend to represent the interests of the poor. The clientele of such governments favour unanticipated inflation taxes to erode the real value of debt service and redistribute income from the rich to...
Persistent link: https://www.econbiz.de/10005792370
Inflation target regimes (like those of Canada, Finland, New Zealand, Sweden and the United Kingdom) are interpreted as having explicit inflation targets and implicit output/unemployment targets. Without output/unemployment persistence, delegation of monetary policy to a discretionary...
Persistent link: https://www.econbiz.de/10005136422
Detailed notes on weekly meetings of the sugar-refining cartel show how communication helps firms collude, and so highlight the deficiencies in the current formal theory of collusion. The Sugar Institute did not fix prices or output. Prices were increased by homogenizing business practices to...
Persistent link: https://www.econbiz.de/10005504565
essential for the rationalization of (efficiency-enhancing) tournaments. In this Paper we propose an alternative rationalization … of tournaments focusing on a fully informed principal whose objective is to maximize a weighted average of the …
Persistent link: https://www.econbiz.de/10005792409
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
Money managers behave strategically when competing for fund flows within relatively small groups. We study strategic interaction between two risk-averse managers in continuous time, characterizing analytically their unique equilibrium dynamic investments. Driven by chasing and contrarian...
Persistent link: https://www.econbiz.de/10009144728
We exploit an incentive change in professional soccer leagues aimed at encouraging more attacking and goal scoring to obtain evidence on the effect of stronger incentives on productive and destructive effort. Using as control the behavior of the same teams in a competition that experienced no...
Persistent link: https://www.econbiz.de/10005114301
In sport tournaments, the rules are presumably structured in a way that any team cannot be better off (e.g., to advance … of several round-robin tournaments, monotonic aggregating rules always leave open such a possibility. Then we consider … that the existing national rules of awarding places for the UEFA Champions Leagues and the UEFA Europa League, which are …
Persistent link: https://www.econbiz.de/10011083284
composition. We present evidence from a field experiment designed to evaluate the impact of rank incentives and tournaments on the … productivity and composition of teams. Strengthening incentives, either through rankings or tournaments, makes workers more likely … incentives only reduce the productivity of teams at the bottom of the productivity distribution, and monetary prize tournaments …
Persistent link: https://www.econbiz.de/10011083724