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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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Quantifying the value of initial investment information
Amendinger, Jürgen; Becherer, Dirk; Schweizer, Martin - 2000
We consider an investor maximizing his expected utility from terminal wealth with portfolio decisions based on the available information flow. This investor faces the opportunity to acquire some additional initial information G.. The subjective fair value of this information for the investor is...
Persistent link: https://www.econbiz.de/10009583881
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Asymptotics of locally interacting Markov chains with global signals
Horst, Ulrich - 2001
convergence result from the theory of random systems with complete connections with a perturbation of the Dobrushin …
Persistent link: https://www.econbiz.de/10009613606
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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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Auctions and corruption
Lengwiler, Yvan; Wolfstetter, Elmar - 2000
In many auctions, the auctioneer is an agent of the seller. This delegation invites corruption. In this paper we propose a model of corruption, examine how corruption affects the auction game, how the anticipation of corruption affects bidding, and how it altogether changes the revenue ranking...
Persistent link: https://www.econbiz.de/10009583882
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Information cascades on the labor market
Kübler, Dorothea; Weizsäcker, Georg - 2001
A model of herding behavior on the labor market is discussed where employers only receive signals with limited precision about the workers' types, but can observe previous employers' decisions. In particular, we study a situation where the employer and the worker can influence the signal...
Persistent link: https://www.econbiz.de/10009616781
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Unpaid overtime in Germany : differences between East and West
Anger, Silke (contributor) - 2003 - [Elektronische Ressource]
Persistent link: https://www.econbiz.de/10001917007
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Quantile hedging
Föllmer, Hans; Leukert, Peter - 1998
In a complete financial market every contingent claim can be hedged perfectly. In an incomplete market it is possible to stay on the safe side by superhedging. But such strategies may require a large amount of initial capital. Here we study the question what an investor can do who is unwilling...
Persistent link: https://www.econbiz.de/10009574876