Showing 1 - 10 of 41
Persistent link: https://www.econbiz.de/10005146965
Persistent link: https://www.econbiz.de/10005747050
The Industrial Revolution is often characterized as the culmination of a process of commercialisation; however, the precise nature of such a link remains unclear. This paper models and analyses one such link: the impact of a higher degree of anonymity of market transactions on relative factor...
Persistent link: https://www.econbiz.de/10010758444
main …ndings are that in the U.S. labor wedges account for roughly half of the drop in output while efficiency and … more than one-third of the output drop and efficiency, government and investment wedges are responsible for the remaining …
Persistent link: https://www.econbiz.de/10010758513
We conduct an experiment to measure the relative importance of key factors that influence the efficiency of household … investment decisions. We find that, both for men and women, their spouse's access to information does not affect efficiency …. However, they are willing to sacrifice much ef¬ficiency for greater personal control over household income. Intriguingly, even …
Persistent link: https://www.econbiz.de/10010758534
Does improving creditor coordination by strengthening CACs lead to efficiency gains in the functioning of sovereign …’s incentives are taken into account, we demonstrate the robust possibility of a conflict between ex ante and interim efficiency. We …
Persistent link: https://www.econbiz.de/10010862688
Is the result that equilibrium trading outcomes are efficient in markets without frictions robust to a scenario where agents' beliefs and plans aren't already aligned at their equilibrium values? In this paper, starting from a situation where agents' beliefs and plans aren't already aligned at...
Persistent link: https://www.econbiz.de/10008503137
Persistent link: https://www.econbiz.de/10005368626
This paper examines the irreversible adoption of a technology whose returns are uncertain, when there is an advantage to being the first adopter, but a network advantage to adopting when others also do so. Two patterns of adoption emerge: sequential, in which the leader aggressively preempts its...
Persistent link: https://www.econbiz.de/10005368785
literature, local amenities enhance capital’s productivity. Prior literature, however, focuses on under-provision of public goods. …
Persistent link: https://www.econbiz.de/10005583025