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Even when labour mobility is low, international integration affectslabour markets by making jobs more mobile. This runs via product market integration, which is an essential element of European integration. Increasing job mobility aects the possibilities single countries perceive in pursuing...
Persistent link: https://www.econbiz.de/10005406218
private provision of public goods. We examine whether reciprocity can resolve the associated coordination problem. The …
Persistent link: https://www.econbiz.de/10010812485
contrast, uncertainty about the catastrophic threshold typically causes coordination to collapse. Whether the probability …
Persistent link: https://www.econbiz.de/10010877724
Global Games approach we can solve this coordination problem and eliminate the problem of multiple equilibria. We show how …
Persistent link: https://www.econbiz.de/10005094193
. Whereas agents have a coordination motive to take the same position, at the social level effective market coordination per se …
Persistent link: https://www.econbiz.de/10005765918
We analyze strategic interactions between two competing distributors of an independent TV channel. Consistent with most of the relevant markets, we assume that the distributors set end-user prices while the TV channel sets advertising prices. Within this framework we show that the distributors...
Persistent link: https://www.econbiz.de/10010558688
Corporate scandals, reflected in excessive management compensation and fraudulent accounts, cause considerable damage. Agency theory’s insistence on linking the compensation of managers and directors as closely as possible to firm performance is a major reason for these scandals. They cannot...
Persistent link: https://www.econbiz.de/10005766059
Peer reviews and rankings today are the backbone of research governance, but recently came under scrutiny. They take explicitly or implicitly agency theory as a theoretical basis. The emerging psychological economics opens a new perspective. As scholarly research is a mainly curiosity driven...
Persistent link: https://www.econbiz.de/10008583736
The present note analyzes the Simultaneous Ascending Bid Auction with arbitrarily many bidders with decreasing marginal valuations under complete information. We show that the game is solvable by iterated elimination of weakly dominated strategies if the efficient allocation assigns at least one...
Persistent link: https://www.econbiz.de/10005406019
This paper analyses the formation of international environmental agreements (IEAs) under uncertainty, focusing on the role of learning and risk aversion. It bridges two strands of literature: one focused on the role learning for the success of IEA formation when countries are risk neutral and...
Persistent link: https://www.econbiz.de/10010736746