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Information sharing and cross-border entry in European banking

Giannetti, Caterina; Jentzsch, Nicola; Spagnolo, Giancarlo - 2010

Information asymmetries can severely limit cross-border border expansion of banks. When a bank enters a new market, it has incomplete information about potential new clients. Such asymmetries are reduced by credit registers, which distribute financial data on bank clients. We investigate the...

Persistent link: https://www.econbiz.de/10003939712

Economic Integration and Investment Incentives in Regulated Industries

Auriol, Emmanuelle; Biancini, Sara - C.E.P.R. Discussion Papers - 2009

The paper studies the impact of market integration on investment incentives in non-competitive industries. It distinguishes between investment in transportation and production cost-reducing technologies. Each domestic firm is controlled by a national regulator in a common market made of two...

Persistent link: https://www.econbiz.de/10005012490

Government Outsourcing: Public Contracting with Private Monopoly

Auriol, Emmanuelle; Picard, Pierre M - C.E.P.R. Discussion Papers - 2006

The paper studies the impact of government budget constraint in a pure adverse selection problem of monopoly regulation … to regulation is proposed in which firms are free to enter the market and to choose their price and output levels … than traditional regulation where governments commit to both investment and operation cash-flows. This is especially …

Persistent link: https://www.econbiz.de/10005067470

A Theory of BOT Concession Contracts

Auriol, Emmanuelle; Picard, Pierre M - C.E.P.R. Discussion Papers - 2011

In this paper, we discuss the choice for build-operate-and-transfer (BOT) concessions when governments and managers do not share the same information regarding the operation characteristics of a facility. We show that larger shadow costs of public funds and larger information asymmetries entice...

Persistent link: https://www.econbiz.de/10008921773

Exclusive Contracts, Loss to Delay and Incentives to Invest

Groh, Christian; Spagnolo, Giancarlo - C.E.P.R. Discussion Papers - 2004

We model a new effect of exclusivity on non-contractible investments in buyer/seller relationships. By restricting the buyer to purchase from only one seller, exclusivity increases the buyer’s costs of haggling during renegotiation and hence the seller’s relative bargaining power and...

Persistent link: https://www.econbiz.de/10005497871

Leniency Policies and Illegal Transactions

Buccirossi, Paolo; Spagnolo, Giancarlo - C.E.P.R. Discussion Papers - 2005

We study the consequences of leniency - reduced legal sanctions for wrongdoers who spontaneously self-report to law enforcers - on sequential, bilateral, illegal transactions such as corruption, manager-auditor collusion, or drug deals. It is known that leniency helps to deter illegal...

Persistent link: https://www.econbiz.de/10005124229

Public Procurement and Rent-Seeking: The Case of Paraguay

Auriol, Emmanuelle; Flochel, Thomas; Straub, Stéphane - C.E.P.R. Discussion Papers - 2011

A model of entrepreneurial choices in an economy with a corrupt public procurement sector is built, providing predictions along two main dimensions. First, corruption is more frequent in sectors where public institutions are large buyers. Second, firms favoured with corrupt contracts enjoy extra...

Persistent link: https://www.econbiz.de/10008865969

Legalizing Bribe Giving

Dufwenberg, Martin; Spagnolo, Giancarlo - C.E.P.R. Discussion Papers - 2012

A model of harassment bribes (paid for services one is entitled to) is developed and used to analyze the recent proposal to legalize paying bribes while increasing fines on accepting bribes. We explore performance as regards corruption deterrence and public service provision. A modified scheme,...

Persistent link: https://www.econbiz.de/10011083969

Sale of Visas: A Smuggler's Final Song?

Auriol, Emmanuelle; Mesnard, Alice - C.E.P.R. Discussion Papers - 2012

We study how smugglers respond to different types of migration policies - legalisation through the sale of migration visas, or more traditional repressive policies through borders' enforcement, employers' sanctions or deportation - by changing the price they propose to illegal migrants. In this...

Persistent link: https://www.econbiz.de/10011083587

Leniency and Whistleblowers in Antitrust

Spagnolo, Giancarlo - C.E.P.R. Discussion Papers - 2006

The paper reviews the recent evolution of leniency programs for cartels in the US and EU, surveys their theoretical economic analyses, and discusses the empirical and experimental evidence available, also looking briefly at related experiences of rewarding whistleblowers in other fields of law...

Persistent link: https://www.econbiz.de/10005662235