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Laws consist of two components: the 'obligations' they express and the 'incentives' designed to enforce them.In this … paper we run a public good experiment to test whether or not obligations have any independent effect on cooperation in … social dilemmas.The results show that, for given marginal incentives, different levels of minimum contribution required by …
Persistent link: https://www.econbiz.de/10011090423
This paper develops a theory of the life cycle of the firm based on incentive constraints.The optimal sale of the firm is restricted by entrepreneurial moral hazard and a lack of commitment regarding future divestment.This leads to a dynamic inefficiency that causes the entrepreneur to delay and...
Persistent link: https://www.econbiz.de/10011090551
Persistent link: https://www.econbiz.de/10011090972
performance measures used in the contract.We also find that the power of incentives in the contract is only indirectly related to …
Persistent link: https://www.econbiz.de/10011091091
We consider a model in which the principal-agent relation between inside shareholders and the management affects the firm value.We study the effect of financing the project with risky debt in changing the incentive for a risk-neutral shareholder (the principal) to implement the project-value...
Persistent link: https://www.econbiz.de/10011091167
We develop a stylized dynamic model of highway policing in which a non-racist police officer is given incentives to … fair one and the gap increases when incentives are made more powerful.We then study this rate when policemen are provided …
Persistent link: https://www.econbiz.de/10011091482
Traditional resource economics has been criticised for assuming too high elasticities of substitution, not observing material balance principles and relying too much on planner solutions to obtain long-term growth.By analysing a multi-sector R&D based endogenous growth model with exhaustible...
Persistent link: https://www.econbiz.de/10011091935
Abstract: How does publication pressure in modern-day universities affect the intrinsic and extrinsic rewards in science? By using a worldwide survey among demographers in developed and developing countries, we show that the large majority perceive the publication pressure as high, but more so...
Persistent link: https://www.econbiz.de/10011092034
Persistent link: https://www.econbiz.de/10011092512
Persistent link: https://www.econbiz.de/10011092542