Narrow search
Showing 1 - 10 of 115
Cover Image
Did Prepayments Sustain the Subprime Market?
Bhardwaj, G.; Sengupta, R. - Tilburg University, Center for Economic Research - 2009
This paper demonstrates that the reason for widespread default of mortgages in the subprime market was a sudden reversal in the house price appreciation of the early 2000's. Using loan-level data on subprime mortgages, we observe that the majority of subprime loans were hybrid adjustable rate...
Persistent link: https://www.econbiz.de/10011092628
Cover Image
Adverse Selection Without Single Crossing
Schottmuller, C. - Tilburg University, Center for Economic Research - 2011
Some results can be readily applied. For example, overinsurance, i.e. insurance levels above first best as in 'Cadillac' insurance plans, can be rationalized. In a non-linear pricing framework, the model also provides an explanation for marginal prices below marginal costs as observed in flat...
Persistent link: https://www.econbiz.de/10011091519
Cover Image
On the Effects of the Degree of Discretion in Reporting Managerial performance
De Waegenaere, Anja; Wielhouwer, J.L. - Tilburg University, Center for Economic Research - 2008
We consider a principal-agent setting in which a manager’s compensation de- pends on a noisy performance signal, and the manager is granted the right to choose an (accounting) method to determine the value of the performance signal. We study the effect of the degree of such reporting...
Persistent link: https://www.econbiz.de/10011092437
Cover Image
Cartel Formation under Incomplete Information : on the Requirements of Collusion-Proofness
Pouyet, J.; Verouden, V.C.H.M. - Tilburg University, Center for Economic Research - 2000
Persistent link: https://www.econbiz.de/10011090624
Cover Image
Reexamining the Empirical Relation between Loan Risk and Collateral : The Role of the Economic Characteristics of Collateral
Ioannidou, Vasso; Berger, A.N.; Frame, W.S. - Tilburg University, Center for Economic Research - 2012
Abstract: This paper offers a possible explanation for the conflicting results in the literature concerning the empirical relation between collateral and loan risk. We posit that certain economic characteristics of collateral may be associated with the empirical dominance of different...
Persistent link: https://www.econbiz.de/10011090718
Cover Image
The Dynamics in Requested and Granted Loan Terms when Bank and Borrower Interact Repeatedly
Kirschenmann, K. - Tilburg University, Center for Economic Research - 2010
This paper studies how credit constraints develop over bank relationships. I analyze a unique dataset of matched loan … the first interaction between borrower and bank. Over loan sequences, credit constraints decease most pronouncedly in the … findings are a sign of the use of dynamic incentives at the bank side to overcome information problems when contracting …
Persistent link: https://www.econbiz.de/10011091005
Cover Image
Optimal Environmental Standards under Asymmetric Information and Imperfect Enforcement
Arguedas, C. - Tilburg University, Center for Economic Research - 2005
We study optimal policies composed of pollution standards, probabilities of inspection and fines dependant on the degree of noncompliance with the standards, in a context where regulated firms own private information.In contrast with previous literature, we show that optimal policies, being...
Persistent link: https://www.econbiz.de/10011092086
Cover Image
Tests of Ex Ante Versus Ex Post Theories of Collateral Using Private and Public Information
Ioannidou, Vasso; Berger, A.N.; Frame, W.S. - Tilburg University, Center for Economic Research - 2010
Collateral is a widely used, but not well understood, debt contracting feature. Two broad strands of theoretical literature explain collateral as arising from the existence of either ex ante private information or ex post incentive problems between borrowers and lenders. However, the extant...
Persistent link: https://www.econbiz.de/10011092269
Cover Image
Provider Competition and Over-Utilization in Health Care
boone, jan; Douven, R.C.M.H. - Tilburg University, Center for Economic Research - 2014
This paper compares the welfare effects of three ways in which health care can be organized: no competition (NC …), competition for the market (CfM) and competition on the market (CoM) where the payer offers the optimal contract to providers in …
Persistent link: https://www.econbiz.de/10011092045
Cover Image
Competition, Incomplete Discrimination and Versioning
Diaw, K.; Pouyet, J. - Tilburg University, Center for Economic Research - 2004
.e., strategic ignorance of consumers tastes for the rival brand softens competition. …
Persistent link: https://www.econbiz.de/10011092100