Showing 1 - 10 of 15
The neoclassical way to cope with firms providing services, or with clubs procuring services, is restricted by the lack of institutional features. An institutional approach is introduced that requires a cooperative governance to realize the potential value-production by firms, or to realize the...
Persistent link: https://www.econbiz.de/10011091595
Cooperative behavior as well as other cultural rules and values are made explicit in organizational units that procure and provide a common service. The common service is procured by a club, which consists of a user-value function, a representation governance, and a budget-allocation function....
Persistent link: https://www.econbiz.de/10011092649
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
Many experimental studies indicate that people are motivated by reciprocity. Rabin (1993) develops techniques for incorporating such concerns into game theory and economics. His model, however, does not fare well when applied to situations with an interesting dynamic structure (like many...
Persistent link: https://www.econbiz.de/10011090465
Abstract: We compare default rates on conventional and Islamic loans using a comprehensive monthly dataset from Pakistan that follows more than 150,000 loans over the period 2006:04 to 2008:12. We find robust evidence that the default rate on Islamic loans is less than half the default rate on...
Persistent link: https://www.econbiz.de/10011090645
This paper estimates the price of ethics by studying the risk-return relation in socially responsible investment (SRI) funds. Consistent with investors paying a price for ethics, SRI funds in many European and Asia-Pacific countries strongly underperform domestic benchmark portfolios by about 5%...
Persistent link: https://www.econbiz.de/10011090741
The constrained egalitarian solution of Dutta and Ray (1989) for TU-games is extended to asymmetric cases, using the notion of weight systems as in Kalai and Samet (1987,1988). This weighted constrained egalitarian solution is based on the weighted Lorenz-criterion as an inequality measure. It...
Persistent link: https://www.econbiz.de/10011090971
The paper analyzes under what conditions spiteful preferences are evolutionarily stable applying the indirect evolution approach. With a quadratic material payo¤ function, spiteful preferences are evolutionarily stable for a large set of parameters. It is shown that strategic substitutability...
Persistent link: https://www.econbiz.de/10011091085
We present the results of a survey-experiment using a representative sample of the Dutch population in which we relate respondents' opinion about the tax deductibility of mortgages to their estimates about other people's opinion.The experiment employs three treatment variables: monetary...
Persistent link: https://www.econbiz.de/10011091243
If contract enforcers must be randomly selected from the same population and thus are as opportunistic as ordinary traders could a system of adjudication nevertheless increase the degree to which contractual obligations on large anonymous markets are fulfilled? Adopting an indirect evolutionary...
Persistent link: https://www.econbiz.de/10011091713