Showing 1 - 10 of 34
This paper revisits the tragedy of the commons when agents have different capabilities in both production and encroachment activities, and can allocate their time between them. Under fairly general assumptions on production and encroachment technologies, an individual's expected income is convex...
Persistent link: https://www.econbiz.de/10005100787
total factor productivity (TFP) in the Quebec manufacturing sector during the 1985-88 period. Our results show that … productivity growth, while the presence of mandatory prevention programs and of fines for infractions to OSH rules have led to an … increase in productivity growth. Interestingly, this is, to our knowledge, the first result showing that OSH regulation may …
Persistent link: https://www.econbiz.de/10005100631
This paper measures factor productivities (and hence total factor productivity growth) directly on the basis of the …
Persistent link: https://www.econbiz.de/10005101009
The paper addresses the effect of technological progress on the frontiers of the firm, building on transaction cost theory and agency theory. The model incorporates four types of costs: production, coordination, management, and transaction costs. The market has lower production costs, but higher...
Persistent link: https://www.econbiz.de/10005838747
We present a model where the probability distribution over the space of an agent's achievements depends not only on her ability and effort, but also on the goals set for her. The agent chooses her effort according to her utility net of perceived cost of effort. This cost is inversely...
Persistent link: https://www.econbiz.de/10005100585
Our objective in this paper is to illustrate and better understand the unavoidable arbitrage between incentives and flexibility in contexts of asymmetric information and to characterize the general features of an appropriate response to this challenge. We show that procedures and institutions in...
Persistent link: https://www.econbiz.de/10005100623
In this general equilibrium model, justice and police institutions are treated as a mechanism that induces individuals to extend some desirable productive effort. This determines individual encroachment activities which in turn determine the proportion of aggregate production that fails to be...
Persistent link: https://www.econbiz.de/10005100938
We study the interactions between equity financing and strategic technological flexibility choices of firms facing a threat of costly bankruptcy. We show that a firm's level of financial hardship is an important determinant of the level and type of investment it chooses to make, either a less...
Persistent link: https://www.econbiz.de/10005100993
This paper looks at sui generis rights claimed for the protection of folklore. Since rights should not be created in any which way if one is to avoid privileges and rent-seeking, it is important to be clear about design constraints stemming from such rights being species of property rights,...
Persistent link: https://www.econbiz.de/10009148048
This description, produced within the CIRANO research program on productivity, seeks to unearth the innovative economic …
Persistent link: https://www.econbiz.de/10005079402