Narrow search
Showing 1 - 10 of 85
Cover Image
Credence goods, costly diagnosis, and subjective evaluation
Bester, Helmut; Dahm, Matthias - 2014
We study contracting between a consumer and an expert. The expert can invest in diagnosis to obtain a noisy signal about whether a low-cost service is sufficient or whether a high-cost treatment is required to solve the consumerś problem. This involves moral hazard because diagnosis effort and...
Persistent link: https://www.econbiz.de/10010429934
Cover Image
Motivated health risk denial and preventative health care investments
Schwardmann, Peter - 2017
People deny health risks, invest too little in disease prevention, and are highly sensitive to the price of … preventative health care, especially in developing countries. Moreover, private sector R and D spending on developing … which an agent's decision to engage in health risk denial balances the psychological benefits of reduced anxiety with the …
Persistent link: https://www.econbiz.de/10011698210
Cover Image
Optimal procurement of a credence good under limited liability
Bester, Helmut; Yaofu, Ouyang - 2017
This paper analyzes the optimal contract for a consumer to procure a credence good from an expert when (i) the expert might misrepresent his private information about the consumer’s need, (ii) the expert might not choose the requested service since his choice of treatment is non-observable,...
Persistent link: https://www.econbiz.de/10011781931
Cover Image
Fiscal federalism and tax enforcement
Bönke, Timm; Joachimsen, Beate; Schröder, Carsten - 2015
In many countries organized as federations, fiscal-equalization schemes have been implemented to mitigate vertical or horizontal imbalances. Such schemes usually imply that the member states of the federation can only partly internalize marginal tax revenue before redistribution. Aside from this...
Persistent link: https://www.econbiz.de/10010517182
Cover Image
CDS spreads and systemic risk : a spatial econometric approach
Keiler, Sebastian; Eder, Armin - 2013
This study applies a novel way of measuring, quantifying and modelling the systemic risk within the financial system. The magnitude of risk spill over effects is gauged by introducing a specific weighting scheme. This approach originally stems from spatial econometrics. The methodology allows...
Persistent link: https://www.econbiz.de/10009695965
Cover Image
Misappropriation of R&D subsidies : estimating treatment effects with one-sided noncompliance
Boeing, Philipp; Peters, Bettina - 2021
In evaluating the effectiveness of R&D subsidies, the literature has focused on potential crowding out effects, while the possibility of misappropriation of public funds that results from moral hazard behavior has been completely neglected. This study develops a theoretical framework with which...
Persistent link: https://www.econbiz.de/10012661468
Cover Image
Misappropriation of R&D subsidies : estimating treatment effects with one-sided noncompliance
Boeing, Philipp; Peters, Bettina - 2022 - This version: April 2022
We investigate the misappropriation of R&D subsidies and evaluate its consequences for policy effectiveness. Using Chinese firm-level data for 2001-2011, we identify that 42% of grantees misused R&D subsidies, accounting for 53% of total R&D subsidies. Misappropriation leads to a substantial...
Persistent link: https://www.econbiz.de/10013175474
Cover Image
GMM weighting matrices incross-sectional asset pricing tests
Laurinaityte, Nora; Meinerding, Christoph; Schlag, Christian - 2020 - This version: November 4, 2020
Cross-sectional asset pricing tests with GMM can generate spuriouslyhigh explanatory power for factor models when the moment conditions are specifiedsuch that they allow the estimated factor means to substantially deviate from theobserved sample averages. In fact, by shifting the weights on the...
Persistent link: https://www.econbiz.de/10012322408
Cover Image
A framework for separating individual treatment effects from spillover, interaction, and general equilibrium effects
Huber, Martin; Steinmayr, Andreas - 2017
, selection on observables, and difference-in-differences. We also present an application to a policy intervention extending …
Persistent link: https://www.econbiz.de/10011626689
Cover Image
The impact of natural disasters on banks' impairment flow : evidence from Germany
Shala, Iliriana; Schumacher, Benno - 2022
Climate change causes natural disasters to occur at higher frequency and increased severity. Using a unique dataset on German banks, this paper explores how regionally less diversified banks in Germany adjusted their loan loss provisioning following the severe summer flood of 2013, which...
Persistent link: https://www.econbiz.de/10013370513