Showing 1 - 10 of 17
This paper deals with the forest owner's attitude towards risk and the harvesting decision in several ways. First, we propose to characterize and quantify the forest owner's attitude towards risk. Second, we analyze the determinants of the forest owner's risk attitude. Finally, we determine the...
Persistent link: https://www.econbiz.de/10010821119
This paper deals with the forest owner's attitude towards risk and the harvesting decision in several ways. First, we propose to characterize and quantify the forest owner's attitude towards risk. Second, we analyze the determinants of the forest owner's risk attitude. Finally, we determine the...
Persistent link: https://www.econbiz.de/10010821474
This article is an attempt to shed light on the specification and identification of inefficiency in stochastic frontiers. We consider the case of a regulated firm or industry. Applying a simple principal-agent framework that accounts for informational asymmetries to this context, we derive the...
Persistent link: https://www.econbiz.de/10009294703
Cet article analyse la renégociation des contrats de gestion déléguée dans le secteur du transport en France. Nous décrivons tout d'abord brièvement le secteur, puis nous présentons dans ses grandes lignes un modèle théorique de renégociation des contrats expliquant les évolutions...
Persistent link: https://www.econbiz.de/10009294704
Les économètres ont estimé des frontières de coût et de production afin d'évaluer l'inefficacité des entreprises. En parallèle, les économistes ont considéré des problèmes d'information asymétrique dans les relations contractuelles entre des principaux et des agents. Cet article...
Persistent link: https://www.econbiz.de/10009294705
This paper is aimed at assessing the empirical relevance of the new theory of regulation. It relies on a principal-agent framework for studying the regulatory schemes used in the French urban transport industry. Taking the current regulatory schemes as given, the model of supply and demand...
Persistent link: https://www.econbiz.de/10009294710
We consider a framework of contractual interactions between public transport authorities and transport operators. We estimate simultaneously the contract choice by the authorities and the effect of regulation on the cost-reducing activity of the operators. We test whether the current regulatory...
Persistent link: https://www.econbiz.de/10009294730
The renegotiation of regulatory contracts is known to prevent regulators from achieving the full commitment efficient outcome in dynamic contexts. However, assessing the cost of such renegotiation remains an open issue from an empirical viewpoint. To address this question, we fit a structural...
Persistent link: https://www.econbiz.de/10009294732
Economic theory claims that contracts renegotiation prevents from reaching the informationally constrained efficient solution that could have been obtained under full commitment. Assessing the cost of renegotiation compared to the full commitment scenario still remains an open issue from an...
Persistent link: https://www.econbiz.de/10010751038
This article is aimed at deepening our understanding of the functioning of competition in the local bus transportation industry and to evaluate its effectiveness. It provides an overview of the competitive constraints that are at work in the industry as discussed in the economic literature, and...
Persistent link: https://www.econbiz.de/10010898378