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Financial Constraints and Moral Hazard: The Case of Franchising

Fan, Ying; Kühn, Kai-Uwe; Lafontaine, Francine - CESifo - 2013

Financial constraints are an important impediment to the growth of small businesses. We study theoretically and empirically how the financial constraints of agents affect their decisions to exert effort, and, hence the organizational decisions and growth of principals, in the context of...

Persistent link: https://www.econbiz.de/10010877784

The Impact of City Contracting Set-Asides on Black Self-Employment and Employment

Chatterji, Aaron K.; Chay, Kenneth Y.; Fairlie, Robert W. - CESifo - 2013

In the 1980s, many U.S. cities initiated programs reserving a proportion of government contracts for minority-owned businesses. The staggered introduction of these set-aside programs is used to estimate their impacts on the self-employment and employment rates of African-American men. Black...

Persistent link: https://www.econbiz.de/10010636597

A Micro Data Approach to the Identification of Credit Crunches

Rottmann, Horst; Wollmershäuser, Timo - CESifo - 2010

This paper presents a micro data approach to the identification of credit crunches. Using a survey among German firms which regularly queries the firms’ assessment of the current willingness of banks to extend credit we estimate the probability of a restrictive credit supply policy by time...

Persistent link: https://www.econbiz.de/10008498992

Handing Out Guns at a Knife Fight: Behavioral Limitations of Subgame-Perfect Implementation

Fehr, Ernst; Powell, Michael; Wilkening, Tom - CESifo - 2014

The assumption that payoff-relevant information is observable but not verifiable is important for many core results in contract, organizational and institutional economics. However, subgame-perfect implementation (SPI) mechanisms - which are based on off-equilibrium arbitration clauses that...

Persistent link: https://www.econbiz.de/10010889984

Leaders as Role Models for the Voluntary Provision of Public Goods

Gaechter, Simon; Renner, Elke - CESifo - 2014

We investigate the link between leadership, beliefs and pro-social behavior. This link is interesting because field evidence suggests that people’s behavior in domains like charitable giving, tax evasion, corporate culture and corruption is influenced by leaders (CEOs, politicians) and beliefs...

Persistent link: https://www.econbiz.de/10010948862

An Experimental AK Model of Growth

Ponzano, Ferruccio; Ricciuti, Roberto - CESifo - 2012

In this paper we test the AK model of growth with laboratory experiments. In each period, agents produce and trade …

Persistent link: https://www.econbiz.de/10009651181

Preferences for Consistency

Falk, Armin; Zimmermann, Florian - CESifo - 2011

strength. We then present three experiments that study main predictions and implications of the model. The first is a simple …

Persistent link: https://www.econbiz.de/10009228620

Who Cares for Social Image? Interactions between Intrinsic Motivation and Social Image Concerns

Friedrichsen, Jana; Engelmann, Dirk - CESifo - 2013

We consider the interaction of intrinsic motivation and concerns for social approval in a laboratory experiment. We elicit a proxy for Fairtrade preferences before the experiment in which we elicit willingness to pay for conventional and Fairtrade chocolate. Treatments vary whether this can be...

Persistent link: https://www.econbiz.de/10010723530

Peer Effects and Social Preferences in Voluntary Cooperation

Thöni, Christian; Gaechter, Simon - CESifo - 2014

Social preferences and social influence effects (“peer effects”) are well documented, but little is known about how peers shape social preferences. Settings where social preferences matter are often situations where peer effects are likely too. In a gift-exchange experiment with independent...

Persistent link: https://www.econbiz.de/10010757729

An Experimental Investigation of Risk Sharing and Adverse Selection

Tausch, Franziska; Potters, Jan; Riedl, Arno - CESifo - 2013

Does adverse selection hamper the effectiveness of voluntary risk sharing? How do differences in risk profiles affect … vary how risk profiles differ between individuals. We find strong evidence for adverse selection if individuals risk … profiles can be ranked according to first-order stochastic dominance and only little evidence for adverse selection if risk …

Persistent link: https://www.econbiz.de/10010639422