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When the mortality rate is high, repeated interaction alone may not sustain cooperation, and religion may play an important role in shaping economic institutions. This insight explains why during the fourteenth century, when plagues decimated populations and the church promoted the doctrine of...
Persistent link: https://www.econbiz.de/10005720575
The spectacular failure of top-rated structured finance products has brought renewed attention to the conflicts of interest of Credit Rating Agencies (CRAs). We model both the CRA conflict of understating credit risk to attract more business, and the issuer conflict of purchasing only the most...
Persistent link: https://www.econbiz.de/10005778634
Quality certification programs help consumers to identify high-quality products or sellers in markets with information …
Persistent link: https://www.econbiz.de/10010950765
-existent, under-developed or emerging regulatory oversight, notably Africa. This paper assesses the quality of 1470 antibiotic and … explanation is that Indian pharmaceutical firms and/or their export intermediaries do indeed differentiate drug quality according …
Persistent link: https://www.econbiz.de/10010950809
This paper proposes that quality differentiation is an important feature of the operations of multi-product firms. We … develop a model in which manufacturers vary product quality across their product range by using inputs of different quality … levels. Firms' core competency is in varieties of superior quality that bring higher sales despite being more expensive …
Persistent link: https://www.econbiz.de/10010951043
We analyze the effectiveness of consumer financial regulation by considering the 2009 Credit Card Accountability Responsibility and Disclosure (CARD) Act in the United States. Using a difference-in- differences research design and a unique panel data set covering over 160 million credit card...
Persistent link: https://www.econbiz.de/10010951059
What are the individual rewards to working in teams? This question extends across many production settings but is of long-standing interest in science and innovation, where the "Matthew Effect" suggests that eminent team members garner credit for great works at the expense of less eminent team...
Persistent link: https://www.econbiz.de/10010951262
If profit maximization is the objective of a firm, new information about quality should affect firm behavior only … well in addition to profit. The introduction of quality "report cards" for cardiac surgery in Pennsylvania provides an …
Persistent link: https://www.econbiz.de/10010951269
influenced by existing reviews, and (3) product quality to change over time. Applying this approach to restaurant reviews from …
Persistent link: https://www.econbiz.de/10010951287
We formally model direct to consumer advertising (DTCA) of prescription drugs and examine factors that determine a … perspective there can be too much or too little private investment in advertising. Welfare is more likely to increase when the …
Persistent link: https://www.econbiz.de/10010951290