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The cost of contract renegotiation: Evidence from the local public sector

Gagnepain, Philippe; Ivaldi, Marc; Martimort, David - C.E.P.R. Discussion Papers - 2010

The renegotiation of regulatory contracts is known to prevent regulators from achieving the full commitment efficient outcome in dynamic contexts. However, assessing the cost of such renegotiation remains an open issue from an empirical viewpoint. To address this question, we fit a structural...

Persistent link: https://www.econbiz.de/10008684689

Debt Contracts, Collapse and Regulation as Competition Phenomena

Gersbach, Hans; Uhlig, Harald - C.E.P.R. Discussion Papers - 1997

lenders, which may make lending altogether unprofitable. Second, banks can have an incentive to offer a debt contract and … additional equity contracts to intermediate debtors, which is in turn dominated by a simple debt contract, only attractive for … seek to avoid the contract with the highest chance of delivery: that contract attracts all bad entrepreneurs. …

Persistent link: https://www.econbiz.de/10005661861

Appropriating the Commons - A Theoretical Explanation

Falk, Armin; Fehr, Ernst; Fischbacher, Urs - C.E.P.R. Discussion Papers - 2001

In this Paper we show that a simple model of fairness preferences explains major experimental regularities of common …

Persistent link: https://www.econbiz.de/10005123667

The Behavioural Effects of Minimum Wages

Falk, Armin; Fehr, Ernst; Zehnder, Christian - C.E.P.R. Discussion Papers - 2005

The prevailing labour market models assume that minimum wages do not affect the labour supply schedule. We challenge this view in this paper by showing experimentally that minimum wages have significant and lasting effects on subjects’ reservation wages. The temporary introduction of a minimum...

Persistent link: https://www.econbiz.de/10005124189

Pricing Patents for Licensing in Standard Setting Organisations: Making Sense of FRAND Commitments

Layne-Farrar, Anna; Padilla, Atilano Jorge; … - C.E.P.R. Discussion Papers - 2007

We explore potential methods for assessing whether licensing terms for intellectual property declared essential within a standard setting organization can be considered fair, reasonable, and non-discriminatory (FRAND). We first consider extending Georgia-Pacific to a standard setting context. We...

Persistent link: https://www.econbiz.de/10005504215

Do Consumers Care About How Prices Are Set?

Courty, Pascal; Pagliero, Mario - C.E.P.R. Discussion Papers - 2007

Using a survey approach, we ask consumers to reveal their preferences over pricing schemes that may differ in terms of the average price of consumption, the amount of price variation, and the probability of being rationed. We find that consumers dislike pricing schemes that vary prices more but...

Persistent link: https://www.econbiz.de/10005504691

Fairness and the Optimal Allocation of Ownership Rights

Fehr, Ernst; Kremhelmer, Susanne; Schmidt, Klaus M. - C.E.P.R. Discussion Papers - 2005

We report on several experiments on the optimal allocation of ownership rights. The experiments confirm the property rights approach by showing that the ownership structure affects relationship-specific investments and that subjects attain the most efficient ownership allocation despite starting...

Persistent link: https://www.econbiz.de/10005504775

Cardiovascular Consequences of Unfair Pay

Falk, Armin; Menrath, Ingo; Siegrist, Johannes; Verde, … - C.E.P.R. Discussion Papers - 2011

particular cardiovascular health, and fairness of pay. …

Persistent link: https://www.econbiz.de/10009144731

The Curse of Inflation

Eyster, Erik; Madarász, Kristóf; Michaillat, Pascal - C.E.P.R. Discussion Papers - 2014

, higher hours worked, and higher output. Whereas an increase in money supply is expansionary, it decreases the fairness of …

Persistent link: https://www.econbiz.de/10011096101

Fairness and Incentives in a Multi-Task Principle-Agent Model

Fehr, Ernst; Schmidt, Klaus M. - C.E.P.R. Discussion Papers - 2004

either offer a piece-rate contract or a (voluntary) bonus to the agent. Bonus contracts strongly outperform piece rate … efforts on both tasks. In contrast, almost all agents with a piece-rate contract focus on the first task and disregard the …-interest theory but is consistent with theories of fairness. …

Persistent link: https://www.econbiz.de/10005114195