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This article examines the railway concessions in France in the 19th century as examples of a principal – agent relationship between the state and a contractor. I show that one of the main assumptions of the agency theory, the asymmetric information at the benefit of the agent, is not verified....
Persistent link: https://www.econbiz.de/10010708148
When an incumbent firm is in charge of a distribution network, it accumulates information on the state of the network. This `common value' information creates a winner's curse during auctions for renewing the concession. The municipality contracting out the provision of the service trades off...
Persistent link: https://www.econbiz.de/10010708683
Twenty-five papers survey and illustrate approaches to and applications of contract economics. Earlier versions of most of the papers were published in special issue no. 92 of the Revue d'Economie Industrielle entitled "The Economics of Contracts in Prospect and Retrospect" (2000). Papers...
Persistent link: https://www.econbiz.de/10011073643
needed. The rigid system is preferable at early stages of technological development, when (lack of) commitment problems are …
Persistent link: https://www.econbiz.de/10010706824
The paper focuses on the signaling value of a tax when agents are less informed than the government on the effect of their consumption. The policy making process is analyzed as a game in which the government wants to influence consumers' behaviors through tax policy, consumers being rational and...
Persistent link: https://www.econbiz.de/10010706569
As commitment is at the core of relationship programs, the latter should share similarities with prevention programs … the practitioner are key determinants to commitment to a prevention protocol. In addition, psychological reactance and … relationship proneness are shown as antecedents of the commitment predictors. While reactant people may not commit to prevention …
Persistent link: https://www.econbiz.de/10010708932
common sanction for this kind of fraud in the USA and in some European countries. …
Persistent link: https://www.econbiz.de/10011073502
Hospital heterogeneity is a major issue in defining a reimbursement system. If hospitals are heterogeneous, it is difficult to distinguish which part of the differences in costs is due to cost containment efforts and which part cannot be reduced, because it is due to other unobserved sources of...
Persistent link: https://www.econbiz.de/10010706753
We develop a "welfarist" model in which the collective demand for health insurance is mainly explained by a solvability motive : health insurance does not have for principal function to treat the risk aversion of solvent agents but to make it possible to individuals who are too poor to assume...
Persistent link: https://www.econbiz.de/10010708942
In many areas of health care financing, there is controversy over the sources of cost variability and about the respective roles of inefficiency versus legitimate heterogeneity. This paper proposes a payment system that creates incentives to increase hospital efficiency when hospitals are...
Persistent link: https://www.econbiz.de/10011073628