We devise an experiment to explore the effect of different degrees of bargaining power on the design and the selection … agents affect outcomes and efficiency. Informational asymmetries generate inefficiency. In an environment where principals … principals. In contrast, when agents compete to be hired, efficiency improves dramatically, and it increases in the relative …

We devise an experiment to explore the effect of different degrees of competition on optimal contracts in a hidden … principals. We first show theoretically how these different degrees of competition affect outcomes and efficiency. Informational … inefficiencies remain. In contrast, when agents compete to be hired, efficiency improves dramatically, and it increases in the …

We devise an experiment to explore the effect of different degrees of competition on optimal contracts in a hidden … principals. We first show theoretically how these different degrees of competition affect outcomes and efficiency. Informational … inefficiencies remain. In contrast, when agents compete to be hired, efficiency improves dramatically, and it increases in the …

This paper investigates the impact of ownership structure and contractual choices on technical efficiency in the French … urban public transport sector. The central proposition, which relies on classical contract theory arguments, is that … frontier methodology.The econometric results corroborate our proposition: the technical efficiency of urban public transport …

banking crisis, the post-crisis period should be the time for recovering efficiency. Moreover, traditional banking theory …Drawing together the concepts of inefficiency and banking crisis is directly inspired by business cycles theory where a … interesting pattern, opposed to what theory predicts : we find that inefficiency increase after the crises in both banking sectors. …

efficiency and local uniqueness of the competitive equilibrium hold. On the contrary, for lower values of the share of first …

maximize output and adjusted net saving. The indicator suggested dwell on the new growth theory with multiple equilibria …

We study the impact of crossholdings on the efficiency of the standard auction formats. The ascending auction is not …

Improving the efficiency of water use is usually presented as an opportunity for large water savings, particularly in … rush for efficiency gains. This article, based on the energy sector, shows that the concept helps to identify possible … unintended consequences of increasing efficiency and shows how efficiency gains are shared in society. However, it might be …