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Trust in the shadow of the courts if judges are no better
Brennan, Geoffrey; Güth, Werner; Kliemt, Hartmut - 1997
theory ; Intrinsic motivation ; Court system ; Legal litigation ; Hobbesian problem of social order …
Persistent link: https://www.econbiz.de/10009657895
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Long-term work contracts versus sequential spot markets : experimental evidence on firm-specific investment
Anderhub, Vital; Königstein, Manfred; Kübler, Dorothea - 1999
Dismissal rules, i.e. legally enforced long term contracts, have beem defended against criticism for, among other things, providing efficient incentives to invest in relationship specific skills. However, in many situations efficient investment can also be attained by spot contracts. We...
Persistent link: https://www.econbiz.de/10009580472
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Efficient contracting and fair play in a simple principal-agent experiment
Anderhub, Vital; Gächter, Simon; Königstein, Manfred - 1999
Modern 'principal-agent theory' has made a lot of progress in proposing theoretical Solutions to agency problems. This … evidence on offered contracts and effort choices in a simple agency game. In line with principal-agent theory we find that in … design has to regard an equity constraint that has so far been neglected by contract theory. In fact, most contract offers …
Persistent link: https://www.econbiz.de/10009581090
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Sequential versus independent commitment : an indirect evolutionary analysis of bargaining rules
Güth, Werner - 1998 - Rev.
Rational bargaining behavior depends crucially on the rules of bargaining, especially on whether parties decide sequentially or independently. Whereas in ultimatum bargaining the proposer can exploit the responder, independent commitments result in more balanced payoffs. To limit the scope of...
Persistent link: https://www.econbiz.de/10009574886
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Stabilization policy and business cycle phases in Europe : a Markov Switching VAR analysis
Beine, Michel; Candelon, Bertrand; Sekkat, Khalid - 1999
Most of the empirical studies dealing with international business cycles have disregarded the credibility issues that …
Persistent link: https://www.econbiz.de/10009582416
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Using private job agencies : optimal screening or cream skimming?
Kübler, Dorothea - 1997
In a model with private information of the worker about her ability and unobservable effort choice, the role of public and private employment services is analyzed. The coexistence of an inefficient employment exchange and an efficient private agency may lead to optimal screening with first best...
Persistent link: https://www.econbiz.de/10009658470
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On the regulation of social norms
Kübler, Dorothea - 2000
A model is developed to understand how norms can be influenced by "norm entrepreneurs", e.g. lawmakers, government agencies, unions etc. Two instruments of influencing the dynamics of normfollowing behavior are analyzed, namely transforming the (monetary) incentives and changing the meaning or...
Persistent link: https://www.econbiz.de/10009583884
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Structural vector autoregressive models and monetary policy analysis
Holtemöller, Oliver - 2002
possibility is to adopt restrictions from economic theory. The purpose of this paper is to investigate the implications of the …
Persistent link: https://www.econbiz.de/10009620773
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Was there a regime change in the German monetary transmission mechanism in 1983?
Candelon, Bertrand; Lütkepohl, Helmut - 2000
Recent investigations of the transmission mechanism of German monetary policy arrive at quite different conclusions regarding its stability during the period of monetary targeting by the Bundesbank. In this study small dynamic models for the monetary sector of the German economy are analyzed in...
Persistent link: https://www.econbiz.de/10009583433
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Lag selection in subset VAR models with an application to a US monetary system
Brüggemann, Ralf; Lütkepohl, Helmut - 2000
Alternative modeling strategies for specifying subset VAR models are considered. It is shown that under certain conditions a testing procedure based on t-ratios is equivalent to sequentially eliminating lags that lead to the largest improvement in a prespecified model selection criterion. A...
Persistent link: https://www.econbiz.de/10009583885