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Shipman, Arthur F. - Volkswirtschaftliche Fakultät, … - 2010

A brief examination of public and private debt suggests that the relation between the two is highly significant, and that recent concerns about the need for austerity are misplaced.

Persistent link: https://www.econbiz.de/10008490105

Private Debt with Default Risk within and across Border

Gao, Xiang - Volkswirtschaftliche Fakultät, … - 2009

Following Jeske's (2006) decentralized international risk sharing arrangement where residents have access to … international capital markets, this paper studies the presence of resident default risk on borrowing happened between domestic … agents, in addition to default risk on private debt contracts across border. The paper shows that, without the assumption of …

Persistent link: https://www.econbiz.de/10005059097

On simple contracts, renegotiation under asymmetric information, and the hold-up problem

Schmitz, Patrick W. - Volkswirtschaftliche Fakultät, … - 2002

In this paper it is demonstrated that voluntary bargaining over a collective decision under asymmetric information may well lead to ex post efficiency if the default decision is non-trivial. It is argued that the default decision may be interpreted as a 'simple' contract that the parties have...

Persistent link: https://www.econbiz.de/10005836090

Principal-Agent Settings with Random Shocks

Rubin, Jared; Sheremeta, Roman - Volkswirtschaftliche Fakultät, … - 2015

Using a gift exchange experiment, we show that the ability of reciprocity to overcome incentive problems inherent in principal-agent settings is greatly reduced when the agent’s effort is distorted by random shocks and transmitted imperfectly to the principal. Specifically, we find that gift...

Persistent link: https://www.econbiz.de/10011157030

Multi-dimensional auctions under information asymmetry for costs and qualities

Papakonstantinou, A.; Bogetoft, P. - Volkswirtschaftliche Fakultät, … - 2012

This paper discusses the design of a novel multi-dimensional mechanism which allows a principal to procure a single project or an item from multiple suppliers through a two-step payment. The suppliers are capable of producing different qualities at costs which cannot exceed a certain value and...

Persistent link: https://www.econbiz.de/10011259763

Gouvernance optimale moderne des universités

Jellal, Mohamed - Volkswirtschaftliche Fakultät, … - 2014

the approach of the paradigm of the theory of incentives Laffont and Tirole (1993), this paper discusses the effects of …

Persistent link: https://www.econbiz.de/10011108454

Optimal incentive contracts to avert firm relocation

Pollrich, Martin; Schmidt, Robert C. - Volkswirtschaftliche Fakultät, … - 2014

A unilateral policy intervention by a country (such as the introduction of an emission price) can induce firms to relocate to other countries. We analyze a dynamic game where a regulator offers contracts to avert relocation of a firm in each of two periods. The firm can undertake a...

Persistent link: https://www.econbiz.de/10010929704

Contracting Under Reciprocal Altruism

Shchetinin, Oleg - Volkswirtschaftliche Fakultät, … - 2009

contract theory. …

Persistent link: https://www.econbiz.de/10004999184

The Role of Investment Banks in IPOs and Incentives in Firms: Essays in Financial and Behavioral Economics

Bartling, Björn - Volkswirtschaftliche Fakultät, … - 2004

Persistent link: https://www.econbiz.de/10008520723

Incentive Compatibility and Efficiency in the contractual Insurer-Provider Relationship: Economic Theory and practical Implications: The Case of North Carolina

Schmid, Andreas - Volkswirtschaftliche Fakultät, … - 2007

providers. An introduction to relevant aspects of contract theory is followed by their adaptation to the characteristics of the … conflicts of interest once a contract has been sealed (ex post). The theory based conclusions are contrasted with the situation …

Persistent link: https://www.econbiz.de/10008574266

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