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Combining Top-down and Bottom-up Accountability: Evidence from a Bribery Experiment

Serra, Danila - Department of Economics, Oxford University - 2008

Monitoring corruption typically relies on top-down interventions aimed at increasing the probability of external … accountable. This paper investigates the effectiveness of an accountability system that combines bottom-up monitoring and top … bribes under: 1) no monitoring; 2) conventional top-down auditing, and 3) an accountability system which gives citizens the …

Persistent link: https://www.econbiz.de/10011004232

Re-Thinking Reputation

Mell, Andrew - Department of Economics, Oxford University - 2011

Economic models of reputation make strong assumptions about the information available to players. In particular, it is assumed that they know the entire history of the game to date. Such models can seldom reproduce the cycling of reputations we observe in the real world. We build a model...

Persistent link: https://www.econbiz.de/10009291911

Monitoring Subcontracting in a Suppliers` Hierachy

Cella, Michela - Department of Economics, Oxford University - 2005

which will then be the object of the monitoring. The monitoring is therefore much less effective then when the principal can …

Persistent link: https://www.econbiz.de/10005090666

Convertible Preferred Stock in Venture Capital Financing

Ippolito, Filippo - Department of Economics, Oxford University - 2006

monitoring is employed by VCs to reduce entrepreneurial moral hazard. When monitoring reveals poor performance, VCs want to … helps reduce this problem. As potential equity holders, VCs are willing to absorb the costs of monitoring because this …

Persistent link: https://www.econbiz.de/10010661352

Capital Structure and Seniority in Entrepreneurial Firms

Ippolito, Filippo - Department of Economics, Oxford University - 2005

entrepreneurial moral hazard problem, which can be partially overcome through monitoring only by informed investors. However …, monitoring is only effective if investors can commit ex ante to liquidate the project after observing a poor signal. We show that …

Persistent link: https://www.econbiz.de/10010661398

Credit Derivatives, Disintermediation and Investment Decisions

Morrison, Alan - Department of Economics, Oxford University - 2001

The credit derivatives market provides a liquid but opaque forum for secondary market trading of banking assets. I show that when entrepreneurs rely upon the certification value of bank debts to obtain cheap bond market insurance, the existance of a credit derivatives market may cause them to...

Persistent link: https://www.econbiz.de/10010661416

Public Sector Motivation and Development Failures

Macchiavello, Rocco - Department of Economics, Oxford University - 2007

This paper provides a theoretical analysis of the relationship between public sector motivation and development. In the model the public sector produces a public good and workers are heterogeneous in terms of public sector motivation (PSM). Wages in the private sector increase with the quality...

Persistent link: https://www.econbiz.de/10005047841

Scandal, Protection, and Recovery in Political Cabinets

Myatt, David P.; Dewan, Torun - Department of Economics, Oxford University - 2005

Empirical evidence suggests that a Prime Minister can benefit from firing ministers who are involved in political scandals. We explore a model in which a minister`s exposure to scandals is positvely related to his policy activism, so that a Prime Minister may wish to protect him from resignation...

Persistent link: https://www.econbiz.de/10005047938

Transparency, Recruitment and Retention in the Public Sector

Leaver, Clare; Albano, Gian Luigi - Department of Economics, Oxford University - 2004

This paper argues that government should pay greater heed to recruitment and retention when designing performance measurement systems for bureaucracies. In the face of pervasive rigidities in public sector pay, internal performance measurement rewards quitters and scars stayers and therefore...

Persistent link: https://www.econbiz.de/10005047977

Job Search in Thick Markets: Evidence from Italy

Addario, Sabrina Di - Department of Economics, Oxford University - 2005

I analyze empirically the effects of both urban and industrial agglomeration on men`s and women`s search behavior and on the efficiency of matching. The analysis is based on the Italian Labor Force Survey micro-data, which covers 520 randomly drawn Local Labor Market Areas (66 per cent of the...

Persistent link: https://www.econbiz.de/10005090633