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Delegation and Interim Performance Evaluation
Schütte, Miriam; Wichardt, Philipp Christoph - 2013
This paper considers the effects of an interim performance evaluation on the decision of a principal to delegate authority to a potentially biased but better informed agent. Assuming the agents’ outside option to be determined by market beliefs about their type, interim evaluations (a) provide...
Persistent link: https://www.econbiz.de/10010293918
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Bayesian Repeated Games and Reputations
Forges, Francoise; Salomon, Antoine - 2014
equilibria share some features with the ones of multi-sided reputation models. …
Persistent link: https://www.econbiz.de/10010352382
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The Output Costs of Hard and Soft Sovereign Default
Trebesch, Christoph; Zabel, Michael - 2016
How costly are sovereign debt crises? In this paper we study output losses during sovereign default and debt renegotiation episodes since 1980. In contrast to previous work, we account for the severity of default and not only for its occurrence. Specifically, we distinguish between “hard”...
Persistent link: https://www.econbiz.de/10011555585
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Contract enforcement, institutions and social capital: the Maghribi traders reappraised
Edwards, Jeremy S. S.; Ogilvie, Sheilagh - 2008
Economists draw important lessons for modern development from the medieval Maghribi traders who, according to Greif, enforced contracts multilaterally through a closed, private-order coalition'. We show that this view is untenable. The Maghribis used formal legal mechanisms and entered business...
Persistent link: https://www.econbiz.de/10010273774
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Sovereign defaults: The price of haircuts
Cruces, Juan J.; Trebesch, Christoph - 2011
A main puzzle in the sovereign debt literature is that defaults have only minor effects on subsequent borrowing costs and access to credit. This paper comes to a different conclusion. We construct the first complete database of investor losses (haircuts) in all restructurings with foreign banks...
Persistent link: https://www.econbiz.de/10010278882
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How Does Competition Affect Reputation Concerns? Theory and Evidence from Airbnb
Rossi, Michelangelo - 2019
I show how changes in competition affect the power of reputation to induce sellers to exert effort. The impact of …. To guide the empirical analysis, I develop a model of reputation where the relative number of hosts and guests affects … the value of building a reputation through effort. In this framework, more competition depresses hosts' profits and leads …
Persistent link: https://www.econbiz.de/10012179771
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When a Nudge Backfires: Combining (Im)Plausible Deniability with Social and Economic Incentives to Promote Behavioral Change
Bolton, Gary E.; Dimant, Eugen; Schmidt, Ulrich - 2020
Both theory and recent empirical evidence on nudging suggest that observability of behavior acts as an instrument for promoting (discouraging) pro-social (anti-social) behavior. We connect three streams of literature (nudging, social preferences, and social norms) to investigate the universality...
Persistent link: https://www.econbiz.de/10012179869
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Diff-in-Diff in Death: Estimating and Explaining Artist-Specific Death Effects
Ursprung, Heinrich; Zigova, Katarina - 2020
age and reputation at death. This result is robust to various specifications and measures of reputation. We present as an …
Persistent link: https://www.econbiz.de/10012207946
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When and Why Do Buyers Rate in Online Markets?
Hui, Xiang; Klein, Tobias J.; Stahl, Konrad O. - 2022
Online ratings play an important role in many markets. We study the often disputed information content of these ratings, by proposing a reduced-form Bayesian model of the typical buyer's rating decision. Our empirical evidence based on eBay raw data is in line with even intricate predictions...
Persistent link: https://www.econbiz.de/10013177596
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The Roots of Cooperation
Bašic, Zvonimir; Bindra, Parampreet Christopher; … - 2021
We study the development of cooperation in 929 young children, aged 3 to 6. In a unified experimental framework, we examine pre-registered hypotheses about which of three fundamental pillars of human cooperation – direct and indirect reciprocity, and third-party punishment – emerges earliest...
Persistent link: https://www.econbiz.de/10012799704