Showing 1 - 10 of 11
strike induces car speed to decrease only marginally on the highway ring road (by 3 percent) but substantially on inner city … roads (by 10 percent). During rush hour, the strike effect is much more pronounced. The congestion relief benefit is …
Persistent link: https://www.econbiz.de/10011255778
examines the institutional differences underlying these differences in strike activity. Our empirical analysis shows that … strike activity is high in France if workers were successful in obtaining relatively high wage increases in collective labour … agreements in the previous year, whereas strike activity is high in the Netherlands if, in the preceding year, real wage …
Persistent link: https://www.econbiz.de/10011256820
wagedynamics are linear if strike is credible (low wage shares) and nonlinearotherwise (high wage shares). The model can admit two … steady state wageshares. The one under strike is not credible exceeds the one under strikeis credible. A wage decrease can … occur if strike is credible, but neverwhen strike is not credible. In the limit as time between bargaining roundsvanishes …
Persistent link: https://www.econbiz.de/10011256694
I present a model in which individuals compete for a prize by choosing to apply or not. Abilities are private information and in attempt to select the best candidate, the committee compares applicants with an imperfect technology. The choice of application cost, size of the prize and use of...
Persistent link: https://www.econbiz.de/10011255649
We investigate the nature of the adverse selection problem in a market for adurable goodwhere trading and entry of new buyers and sellers takes place in continuoustime. In thecontinuous time model equilibria with properties that are qualitativelydifferent from thestatic equilibria, emerge....
Persistent link: https://www.econbiz.de/10011255809
This paper studies markets plagued with asymmetric information on the quality of traded goods. In Akerlof's setting, sellers are better informed than buyers. In contrast, we examine cases where buyers are better informed than sellers. This creates an inverse adverse selection problem: The market...
Persistent link: https://www.econbiz.de/10011256127
This discussion paper resulted in an article in <I>Economic Theory</I> (2002). Vol. 20, issue 3, pages 579-601.<P> We investigate the nature of market failure in a dynamic version of Akerlof (1970) where identical cohorts of a durable good enter the market over time. In the dynamic model, equilibria with...</p></i>
Persistent link: https://www.econbiz.de/10011256254
In the economics profession there is a fierce debate whether industrial and innovation policy should be targeted to specific sectors or firms. This paper discusses the welfare effects of such targeted policies from the perspective of strategic game theory of the firm. A theoretical case for...
Persistent link: https://www.econbiz.de/10011256762
Banks provide risky loans to firms which have superior information regarding the quality of their projects. Due to asymmetric information the banks face the risk of adverse selection. Credit Value-at-Risk (CVaR) regulation counters the problem of low quality, i.e. high risk, loans and therefore...
Persistent link: https://www.econbiz.de/10011257219
This discussion paper led to a publication in the <I>Journal of Risk and Insurance</I>. Vol. 72(1), pages 45-59.<P> We take a dynamic perspective on insurance markets under adverseselection and study a generalized Rothschildand Stiglitz model where agents may differ with respect to theaccidental...</p></i>
Persistent link: https://www.econbiz.de/10011257433