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Resource rents; when to spend and how to save
Venables, Anthony J - C.E.P.R. Discussion Papers - 2010
Countries with substantial revenues from renewable resources face a complex range of revenue management issues. What is the optimal time profile of consumption from the revenue, and how much should be saved? Should saving be invested in foreign funds or in the domestic economy? How does...
Persistent link: https://www.econbiz.de/10008468644
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A Welfare Assessment of Revenue Management Systems
Dupuis, Nicolas; Ivaldi, Marc; Pouyet, Jérôme - C.E.P.R. Discussion Papers - 2015
We study the welfare impact of revenue management, i.e. intertemporal price discrimination when the product availability is limited both in time and quantity, and consumers' arrival is random. This practice is particularly relevant, and widely spread, in the transport industry, but little is...
Persistent link: https://www.econbiz.de/10011165643
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The Dynamic Assignment of Heterogenous Objects: A Mechanism Design Approach
Gershkov, Alex; Moldovanu, Benny - C.E.P.R. Discussion Papers - 2007
We study the allocation of several heterogenous, commonly ranked objects to impatient agents with privately known characteristics who arrive sequentially according to a Poisson or renewal process. We analyze and compare the policies that maximize either welfare or revenue. We focus on two cases:...
Persistent link: https://www.econbiz.de/10005789155
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Specific Knowledge and Performance Measurement
Raith, Michael - C.E.P.R. Discussion Papers - 2004
This Paper examines optimal incentives and performance measurement in a setting where an agent has specific knowledge about the consequences of their actions for the principal. I study incentive contracts in which the agent’s compensation can be based on both ‘input’ measures closely...
Persistent link: https://www.econbiz.de/10005504471
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Performance Measurement with Loss Aversion
Gemmill, Gordon T; Hwang, Soosung; Salmon, Mark - C.E.P.R. Discussion Papers - 2005
We examine a simple measure of portfolio performance based on prospect theory, which captures not only risk and return but also reflects differential aversion to upside and downside risk. The measure we propose is a ratio of gains to losses, with the gains and losses weighted (if desired) to...
Persistent link: https://www.econbiz.de/10005114253
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A General Test of Gaming
Courty, Pascal; Marschke, Gerald - C.E.P.R. Discussion Papers - 2004
An important lesson from the incentive literature is that explicit incentives may elicit dysfunctional and unintended responses, also known as gaming responses. The existence of these responses, however, is difficult to demonstrate in practice because this behaviour is typically hidden from the...
Persistent link: https://www.econbiz.de/10005114434
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Privatization and Quality: Evidence from Elderly Care in Sweden
Bergman, Mats; Johansson, Per; Lundberg, Sofia; … - C.E.P.R. Discussion Papers - 2014
Non-contractible quality dimensions are at risk of degradation when the provision of public services is privatized. However, privatization may increase quality by fostering performance-improving innovation, particularly if combined with increased competition. We assemble a large data set on...
Persistent link: https://www.econbiz.de/10011084097
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Performance Measurement using Multiple Asset Class Portfolio Data
Blake, David; Lehmann, Bruce N; Timmermann, Allan G - C.E.P.R. Discussion Papers - 1997
Using a data set containing 364 UK pension funds’ asset holdings, this paper provides a systematic investigation of the performance of managed portfolios across multiple asset classes. We find surprisingly little cross-sectional variation in the ex-post average performance across the UK...
Persistent link: https://www.econbiz.de/10005666475
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Curbing Cream-Skimming: Evidence on Enrolment Incentives
Courty, Pascal; Kim, Do Han; Marschke, Gerald - C.E.P.R. Discussion Papers - 2009
Using data from a large, U.S. federal job training program, we investigate whether enrolment incentives that exogenously vary the ‘shadow prices’ for serving different demographic subgroups of clients influence case workers’ intake decisions. We show that case workers enroll more clients...
Persistent link: https://www.econbiz.de/10005666832
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Does Extending Unemployment Benefits Improve Job Quality?
Nekoei, Arash; Weber, Andrea - C.E.P.R. Discussion Papers - 2015
insurance (UI) on reemployment wages. This paper estimates a positive UI wage effect exploiting an age-based regression … balance between two offsetting forces: UI causes agents to seek higher-wage jobs, but also reduces wages by lengthening … both in our sample and across studies, reconciling disparate wage-effect estimates. Empirically, UI raises wages by …
Persistent link: https://www.econbiz.de/10011272710