Narrow search
Showing 1 - 10 of 524
Cover Image
Uncertainty as Commitment
Ordonez, Guillermo L.; Nosal, Jaromir - National Bureau of Economic Research (NBER) - 2013
Time-inconsistency of no-bailout policies can create incentives for banks to take excessive risks and generate endogenous crises when the government cannot commit. However, at the outbreak of financial problems, usually the government is uncertain about their nature, and hence it may delay...
Persistent link: https://www.econbiz.de/10010969240
Cover Image
Understanding Corporate Governance Through Learning Models of Managerial Competence
Hermalin, Benjamin; Weisbach, Michael S. - National Bureau of Economic Research (NBER) - 2014
A manager's shareholders, board of directors, and potential future employers are continually assessing his ability. A rich literature has documented that this insight has profound implications for corporate governance because assessment generates incentives (good and bad), introduces assorted...
Persistent link: https://www.econbiz.de/10010950722
Cover Image
Adverse Selection and Switching Costs in Health Insurance Markets: When Nudging Hurts
Handel, Benjamin R. - National Bureau of Economic Research (NBER) - 2011
this analysis we develop and estimate a choice model that jointly quantifies switching costs, risk preferences, and ex ante … health risk. We use these estimates to study the welfare impact of an information provision policy that nudges consumers … prices are held fixed. However, when insurance prices change endogenously to reflect updated enrollee risk pools, the same …
Persistent link: https://www.econbiz.de/10009323425
Cover Image
Bank Size and Lending Relationships in Japan
Uchida, Hirofumi; Udell, Gregory F. - National Bureau of Economic Research (NBER) - 2007
Current theoretical and empirical research suggests that small banks have a comparative advantage in processing soft information and delivering relationship lending. The most comprehensive analysis of this view found using U.S. data that smaller SMEs borrow from smaller banks and smaller banks...
Persistent link: https://www.econbiz.de/10005084844
Cover Image
Competition and R&D Financing Decisions: Theory and Evidence from the Biopharmaceutical Industry
Lo, Andrew W.; Thakor, Richard T. - National Bureau of Economic Research (NBER) - 2015
volatility due to higher idiosyncratic risk. While the focus is on the biopharmaceutical industry, the results are broadly …
Persistent link: https://www.econbiz.de/10011159903
Cover Image
Tipping Points and Ambiguity in the Economics of Climate Change
Lemoine, Derek M.; Traeger, Christian P. - National Bureau of Economic Research (NBER) - 2012
We model welfare-maximizing policy in an infinite-horizon setting when the probability of a tipping point, the welfare change due to a tipping point, and knowledge about a tipping point's trigger all depend on the policy path. Analytic results demonstrate how optimal policy depends on the...
Persistent link: https://www.econbiz.de/10010969374
Cover Image
On the Interaction of Memory and Procrastination: Implications for Reminders
Ericson, Keith M Marzilli - National Bureau of Economic Research (NBER) - 2014
I examine the interaction between present-bias and limited memory. Individuals in the model must choose when and whether to complete a task, but may forget or procrastinate. Present-bias expands the effect of memory: it induces delay and limits take-up of reminders. Cheap reminder technology can...
Persistent link: https://www.econbiz.de/10010888676
Cover Image
A Tale of Repetition: Lessons from Florida Restaurant Inspections
Lee, Jungmin; Jin, Ginger Zhe - National Bureau of Economic Research (NBER) - 2014
We examine the role of repetition in government regulation. Using Florida restaurant inspection data from 2003 to 2010, we find that inspectors new to the inspected restaurant report 12.7-17.5% more violations than the second visit of a repeat inspector. This effect is even more pronounced if...
Persistent link: https://www.econbiz.de/10010950881
Cover Image
Continuous-Time Methods for Integrated Assessment Models
Judd, Kenneth L.; Lontzek, Thomas S.; Cai, Yongyang - National Bureau of Economic Research (NBER) - 2012
Continuous time is a superior representation of both the economic and climate systems that Integrated Assessment Models (IAM) aim to study. Moreover, continuous-time representations are simple to express. Continuous-time models are usually solved by discretizing time, but the quality of a...
Persistent link: https://www.econbiz.de/10010950988
Cover Image
Inspection Technology, Detection and Compliance: Evidence from Florida Restaurant Inspections
Lee, Jungmin; Jin, Ginger Zhe - National Bureau of Economic Research (NBER) - 2013
In this article, we show that a small innovation in inspection technology can make substantial differences in inspection outcomes. For restaurant hygiene inspections, the state of Florida has introduced a handheld electronic device, the portable digital assistant (PDA), which reminds inspectors...
Persistent link: https://www.econbiz.de/10010951300