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Second-Degree Moral Hazard in a Real-World Credence Goods Market

Balafoutas, Loukas; Kerschbamer, Rudolf; Sutter, Matthias - CESifo - 2013

Empirical literature on moral hazard focuses exclusively on the direct impact of asymmetric information on market outcomes, thus ignoring possible repercussions. We present a field experiment in which we consider a phenomenon that we call second-degree moral hazard – the tendency of the supply...

Persistent link: https://www.econbiz.de/10010706004

What Drives Taxi Drivers? A Field Experiment on Fraud in a Market for Credence Goods

Balafoutas, Loukas; Beck, Adrian; Kerschbamer, Rudolf; … - CESifo - 2011

Credence goods are characterized by informational asymmetries between sellers and consumers that invite fraudulent behavior by sellers. This paper presents the results of a natural field experiment on taxi rides in Athens, Greece, set up to measure different types of fraud and to examine the...

Persistent link: https://www.econbiz.de/10009020798

Does Laboratory Trading Mirror Behavior in Real World Markets? Fair Bargaining and Competitive Bidding on EBay

Bolton, Gary E.; Ockenfels, Axel - CESifo - 2008

We conducted a controlled field experiment on eBay and examined to what extent both social and competitive laboratory … markets. EBay’s natural trading system provides bridges between lab and field environment that can be exploited to explore … reputation building in bilateral bargaining, while buyer competition effectively masks this concern and robustly yields …

Persistent link: https://www.econbiz.de/10005181559

Do Employers Discriminate Less if Vacancies are Difficult to Fill? Evidence from a Field Experiment

Baert, Stijn; Cockx, Bart; Gheyle, Niels; Vandamme, Cora - CESifo - 2013

We empirically test the relationship between hiring discrimination and labour market tightness at the level of the occupation. To this end, we conduct a correspondence test in the youth labour market. In line with theoretical expectations, we find that, compared to natives, candidates with a...

Persistent link: https://www.econbiz.de/10010607469

When Ignorance is Bliss - Information Asymmetries Enhance Prosocial Behavior in Dictator Games

Winschel, Evguenia; Zahn, Philipp - CESifo - 2014

In most laboratory experiments concerning prosocial behavior subjects are fully informed how their decision influences the payoff of other players. Outside the laboratory, however, individuals typically have to decide without such detailed knowledge. To assess the effect of information...

Persistent link: https://www.econbiz.de/10010877838

Donating Time or Money: Are they Substitutes or Complements?

Hartmann, Bastian; Werding, Martin - CESifo - 2012

Decisions to donate time or money for charitable purposes are typically seen as make-or-buy decisions, implying that there should be a clear distinction between individuals engaging in one of these two forms of giving and that this distinction should be somehow linked to opportunity costs. But...

Persistent link: https://www.econbiz.de/10010555695

Public and Private Learning from Prices, Strategic Substitutability and Complementarity, and Equilibrium Multiplicity

Manzano, Carolina; Vives, Xavier - CESifo - 2010

We study a general static noisy rational expectations model, where investors have private information about asset payoffs, with common and private components, and about their own exposure to an aggregate risk factor, and derive conditions for existence and uniqueness (or multiplicity) of...

Persistent link: https://www.econbiz.de/10008511613

Asymmetric Information and Overinvestment in Quality

Belleflamme, Paul; Peitz, Martin - CESifo - 2009

In a standard adverse selection world, asymmetric information about product quality leads to quality deterioration in the market. Suppose that a higher investment level makes the realization of high quality more likely. Then, if consumers observe the investment (but not the realization of...

Persistent link: https://www.econbiz.de/10005000399

Uncertain Bequest Needs and Long-Term Insurance Contracts

Fei, Wenan; Fluet, Claude; Schlesinger, Harris - CESifo - 2008

We examine how long-term life insurance contracts can be designed to incorporate uncertain future bequest needs. An individual who buys a life insurance contract early in life is often uncertain about the future financial needs of his or her family, in the event of an untimely death. Ideally,...

Persistent link: https://www.econbiz.de/10005405924

Income Tax Buyouts and Income Tax Evasion

Goerke, Laszlo - CESifo - 2014

A tax buyout is a contract between tax authorities and a tax payer which reduces the marginal income tax rate in exchange for a lump-sum payment. While previous contributions have focussed on labour supply, we consider the interaction with tax evasion and show that a buyout can increase expected...

Persistent link: https://www.econbiz.de/10010739344

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