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Spagnolo, Giancarlo; Lippert, Steffen - Econometric Society - 2004

In this paper, we model networks of relational contracts. We explore sanctioning power within these networks under different information technologies depending on the shape of the network. The value of the relational network lies in the enforcement of cooperative agreements which would not be...

Persistent link: https://www.econbiz.de/10005329020

Organizational Learning: An Experimental Study

Franco, April; Blume, Andreas; Duffy, John - Econometric Society - 2004

In this paper we experimentally investigate decentralized, organizational learning. The main objective is to understand how learning members of an organization cope with the confounding effects of the simultaneous learning of others. We use versions of a simple "success-or-failure" game due to...

Persistent link: https://www.econbiz.de/10005342236

Specialization, Agency Cost and Firm Size

Cho, Sungbin - Econometric Society - 2004

This paper extends the principal-agent model to determine the size of the firm as measured by the number of agent hired. Hiring more agents results in benefits and costs to the principal. The benefits are gains from specialization: higher productivity can be achieved if, as the number of agents...

Persistent link: https://www.econbiz.de/10005342377

Holdup with Subsidized Investment

Hanazono, Makoto - Econometric Society - 2004

a bargaining position ex post. Even with the subsidization opportunity, the holdup inefficiency is still present, except … in the special cases in which one party has all the bargaining power. The adoption of a contract, however, allows full …

Persistent link: https://www.econbiz.de/10005086412

Allocation of Decision-Making Authority with Principal's Reputation Concerns

Tsai, Tsung-Sheng; Tamada, Yasunari - Econometric Society - 2004

This paper analyzes the allocation of decision-making authority when the principal has reputation concerns. The principal can either keep the authority and consult the agent (an expert), or delegate the authority to the agent; however, the outside evaluator cannot observe the allocation of...

Persistent link: https://www.econbiz.de/10005130229

Institutions, Credit rationing and housing development

Garcia, Fernando; Brollo, Fernanda - Econometric Society - 2004

One of the basic principles that allow a smooth operation of the markets is the equilibrium between supply and demand. According to this principle, when demand exceeds supply, the price mechanism will try to bring the system back into equilibrium. When this thinking is applied to the housing...

Persistent link: https://www.econbiz.de/10005063549

The Organization of Supply: a Vertical Equilibrium Analysis

Levy, Nadav - Econometric Society - 2004

In this paper I study how the make-or-buy decision of a firm depends on the organization of its peers. I consider a multi-firm framework in which firms choose whether to integrate into the supply of an intermediate input or to outsource its production, and choose the size of their supplier...

Persistent link: https://www.econbiz.de/10005702679

Explicit and Latent Authority in Hierarchical Organizations

Brink, Rene van den; Gilles, Robert P. - Econometric Society - 2004

In this paper we consider the problem of the control of access to a firm's productive asset, embedding the relevant decision makers into a general structure of formal authority relations. Within such an authority structure, each decision maker acts as a principal to some decision makers, while...

Persistent link: https://www.econbiz.de/10005702681

Asymmetric FDI and Tax-Treaty Bargaining: Theory and Evidence

Davies, Ron; Chisik, Richard - Econometric Society - 2004

for bargaining over the treatyâ€™s terms. This paper makes a first attempt at modeling the conflicting goals in treaty … formation by analyzing a cooperative bargaining model of tax determination. In a simple framework, we develop hypotheses about …. We find that treaty-specified withholding taxes vary in a systematic way that is consistent with our simple bargaining …

Persistent link: https://www.econbiz.de/10005328861

Valuation in Dynamic Bargaining Markets

duffie - Econometric Society - 2004

We study the impact on asset prices of illiquidity associated with search and bargaining in an economy in which agents …

Persistent link: https://www.econbiz.de/10005328973