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. -- auctions ; procurement …
Persistent link: https://www.econbiz.de/10009630547
, and lower bids when the number of bidders is increased. -- auctions ; procurement …
Persistent link: https://www.econbiz.de/10009630548
This paper investigates the behaviour in repeated decision situations. The experimental study shows that subjects show low or no risk-aversion, but put very high value on the opportunity to sell the lottery in every stage of the decision problem. There is evidence that risk attitudes depend on...
Persistent link: https://www.econbiz.de/10009582412
People dislike inflation because inflation erodes the real value of future nominal income and wealth. Adjustment of future nominal values via a cost of living index is an appropriate way to handle the problem of real income risk. Nonetheless an important aspect needs more discussion: If markets...
Persistent link: https://www.econbiz.de/10009612030
filtering theory ; enlargement of filtration ; canonical decomposition ; Sturm-Liouville equation ; Volterra kernels …
Persistent link: https://www.econbiz.de/10009578007
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
On a homogeneous oligopoly market informed sellers are fully aware of market demand whereas uninformed sellers only know the distribution. We first derive the market results when sellers are risk averse, similarly to Ponssard (1979) who assumed risk neutrality throughout. With the help of these...
Persistent link: https://www.econbiz.de/10009612010
.’s investment game by introducing an upper bound to what a contributor can be repaid afterwards. By varying this upper bound …
Persistent link: https://www.econbiz.de/10009578011
inappropriate or that following a certain new norm is appropriate. Both forms of norm regulation are incorporated into Akerlof … different types of norms. -- social norms ; regulation ; conformity …
Persistent link: https://www.econbiz.de/10009583884
well-known static optimum, and sketch the impact of information spillovers. -- auctions ; procurement …
Persistent link: https://www.econbiz.de/10009583440