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Incomplete-Information Models of Large Economies with Anonymity: Existence and Uniqueness of Common Priors
Hellwig, Martin - Max-Planck-Institut zur Erforschung von … - 2011
The paper provides a speci?cation of belief systems for models of large economies with anonymity in which aggregate states depend only on cross-section distributions of types. For belief systems satisfying certain conditions of mutual absolute continuity, the paper gives a necessary and...
Persistent link: https://www.econbiz.de/10009021688
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Procrastination in Teams, Contract Design and Discrimination
Weinschenk, Philipp - Max-Planck-Institut zur Erforschung von … - 2011
We study a dynamic model of team production with moral hazard. We show that the players begin to invest effort only shortly before the time limit when the reward for solving the task is shared equally. We explore how the team can design contracts to mitigate this form of procrastination and show...
Persistent link: https://www.econbiz.de/10009226922
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Win Shift Lose Stay - An Experimental Test of Non-Compete Clauses
Bünstorf, Guido; Engel, Christoph; Fischer, Sven; … - Max-Planck-Institut zur Erforschung von … - 2013
We experimentally test the effect of enforceable non-compete clauses on working efforts. The employee can invest into the probability of making a profitable innovation. After a successful innovation (Win) the employee may want to leave the firm (Shift) whereas after an innovation failure (Lose)...
Persistent link: https://www.econbiz.de/10010698195
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An incomplete contracts perspective on the provision and pricing of excludable public goods
Bierbrauer, Felix - Max-Planck-Institut zur Erforschung von … - 2010
We study whether a firm that produces and sells access to an excludable public good should face a self-financing requirement, or, alternatively, receive subsidies that help to cover the cost of public-goods provision. The main result is that the desirability of a self-financing requirement is...
Persistent link: https://www.econbiz.de/10008536043
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On the legitimacy of coercion for the financing of public goods
Bierbrauer, Felix - Max-Planck-Institut zur Erforschung von … - 2009
The literature on public goods has shown that efficient outcomes are impossible if participation constraints have to be respected. This paper addresses the question whether they should be imposed. It asks under what conditions efficiency considerations justify that individuals are forced to pay...
Persistent link: https://www.econbiz.de/10008567935
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How Voice Shapes Reactions to Impartial Decision Makers: An Experiment
Kleine, Marco; Langenbach, Pascal; Zhurakhovska, Lilia - Max-Planck-Institut zur Erforschung von … - 2013
We study how participation in decision processes shapes people's behavior towards impartial authorities. In an incentivized laboratory experiment, an impartial decision maker at first decides about the allocation of money between two subordinates. Treatments differ in the opportunity for one...
Persistent link: https://www.econbiz.de/10010740227
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Fairness and Persuasion. How Stakeholder Communication Affects Impartial Decision Making
Kleine, Marco; Langenbach, Pascal; Zhurakhovska, Lilia - Max-Planck-Institut zur Erforschung von … - 2014
We study experimentally whether and to what extent impartial decision makers are influenced by stakeholders’ fairness … opinions in an allocation decision. The setting allows for different focal fairness rules to be considered. We compare … the driving force behind this result: impartial decision makers deviate from their initial fairness judgment and follow …
Persistent link: https://www.econbiz.de/10010751924
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Inequity Aversion, Reciprocity, and Appropriateness in the Ultimatum-Revenge Game
Nicklisch, Andreas - Max-Planck-Institut zur Erforschung von … - 2008
differentiate between fairness that is stimulated by intentional based motives, distributional motives, and fairness considerations …
Persistent link: https://www.econbiz.de/10005772765
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Fairness Spillovers – The Case of Taxation
Cornelißen, Thomas; Himmler, Oliver; Koenig, Tobias - Max-Planck-Institut zur Erforschung von … - 2012
that such 'fairness spillovers' can incur large economic costs: A belief that there is unfairness in taxation in the sense …
Persistent link: https://www.econbiz.de/10010567953
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Umbrella Branding and External Certification
Hakenes, Hendrik; Peitz, Martin - Max-Planck-Institut zur Erforschung von … - 2008
We study the interdependence of optimal tax and expenditure policies. An optimal policy requires that information on preferences is made available. We first study this problem from a general mechanism design perspective and show that efficiency is possible only if the individuals who decide on...
Persistent link: https://www.econbiz.de/10005272717