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Double moral hazard and the energy efficiency gap
Giraudet, Louis-Gaëtan; Houde, Sébastien - HAL - 2014
We investigate how moral hazard problems can cause sub-optimal investment in energy efficiency, a phenomenon known as the energy efficiency gap. We argue that such problems are likely to be important for home energy retrofits, where both the seller and the buyer can take hidden actions. The...
Persistent link: https://www.econbiz.de/10010821504
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Optimal Unemployment Insurance for Older Workers
Hairault, Jean-Olivier; Langot, François; Ménard, … - HAL - 2012
At the end of working life, as well as reducing unemployment benefits, the unemployment-insurance agency could apply …. Finally, even in the special case where search intensity is zero close to retirement, perfect risk-sharing across unemployment …
Persistent link: https://www.econbiz.de/10010821519
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Regular moral hazard economies
Chassagnon, Arnold - HAL - 2007
That paper formalizes the idea that when the magnitude of the moral hazard phenomenon is not important, the distortions like equilibria multiplicity or equilibrium discontinuity relative to the economic fundamentals disappear. We study a two state of nature insurance model, with a risk neutral...
Persistent link: https://www.econbiz.de/10010738744
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Separating selection and incentive effects in health insurance
Gardiol, Lucien; Geoffard, Pierre-Yves; Grandchamp, Chantal - HAL - 2005
This paper provides an analysis of the health insurance and health care consumption. A structural microeconomic model of joint demand for health insurance and health care is developed and estimated using full maximum likelihood method using Swiss insurance claims data for over 60 000 adult...
Persistent link: https://www.econbiz.de/10010738866
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Sharing aggregate risks under moral hazard
Demange, Gabrielle - HAL - 2008
groups affected by the partial insurance against idiosyncratic risks? The design of unemployment insurance schemes in …
Persistent link: https://www.econbiz.de/10010738915
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Heterogeneous Banking Efficiency : Allocative Distortions and Lending Fluctuations
Duprey, Thibaut - HAL - 2013
This paper is a first attempt to connect the heterogeneity in bank efficiency with lending fluctuations and allocation efficiency: there is a trade-off between the two in the presence of heterogeneity in bank monitoring efficiency. The mechanism at hand is twofold. (a) First the rent extracted...
Persistent link: https://www.econbiz.de/10010739116
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Optimal Unemployment Insurance for Older Workers
Hairault, Jean-Olivier; Langot, François; Ménard, … - HAL - 2012
At the end of working life, as well as reducing unemployment benefits, the unemployment-insurance agency could apply …. Finally, even in the special case where search intensity is zero close to retirement, perfect risk-sharing across unemployment …
Persistent link: https://www.econbiz.de/10010775764
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Optimal Monetary Provisions in Plural Form Franchise Systems; A Theoretical Model of Incentives with Two Risk-Averse Agents
Lanchimba, Cintya - HAL - 2013
Empirical studies show that most franchise chains use dual distribution - or a plural form franchise system - characterized by the coexistence of franchised units and company- owned retail units in the same distribution network. Therefore, this paper focuses on dual distribution and considers...
Persistent link: https://www.econbiz.de/10010899336
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Linear Prices Equilibria and Nonexclusive Insurance Market
Loss, Frédéric; Piaser, Gwanaël - HAL - 2013
We consider a competitive insurance market in which agents can privately enter into multicontractual insurance relationships and undertake hidden actions. We study the existence of linear equilibria when insurance companies do not have any restriction on their pricing rules. We provide...
Persistent link: https://www.econbiz.de/10010899521
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Optimal Unemployment Insurance for Older Workers
Hairault, Jean-Olivier; Langot, François; Ménard, … - HAL - 2012
This paper studies the optimal unemployment insurance for older workers in a repeated principal-agent model, where the …). When unemployment benefits are the only available tool, the insurance agency is not able to induce older workers to search … dependent on the length of the unemployment spell. We show that this device performs better than a wage tax after re …
Persistent link: https://www.econbiz.de/10010899974