Showing 1 - 10 of 1,647
regularities by developing a new firmbased trade model wherein managers are risk averse. Higher volatility induces the reallocation …/or higher trade cost weaken this effect. Our results hold for a large class of consumer utility functions …
Persistent link: https://www.econbiz.de/10013315484
Recent contributions on off shoring often assume that firms can freely split their production process into separate steps which can be ranked according to the cost savings from producing abroad. We replace this assumption by the notion of a technologically determined sequence of production...
Persistent link: https://www.econbiz.de/10012764740
This paper explores the determinants of survival in a life-and-death situation created by an external and unpredictable shock. We are interested in seeing whether pro-social behaviour matters in such extreme situations. We therefore focus on the sinking of the RMS Titanic as a quasi-natural...
Persistent link: https://www.econbiz.de/10012769705
This paper examines a life-cycle cost concept that applies to both manufacturing and service industries in which upfront capacity investments are essential. Borrowing from the energy literature, we refer to this cost measure as the levelized product cost (LC). Per unit of output, the levelized...
Persistent link: https://www.econbiz.de/10013059057
institutions compared to situations of individual decision-making. Intelligence, female gender, and the existence of siblings …
Persistent link: https://www.econbiz.de/10012994702
We designed four observational learning experiments to identify the key channels that, along with Bayes-rational inferences, drive herd behavior. In Experiment 1, unobserved, whose actions remain private, learn from the public actions made in turn by subjects endowed with private signals of...
Persistent link: https://www.econbiz.de/10012924978
implemented. Fama & Jensen (1983) argue that the same members of many organization are often responsible for both decision … to express their discontent with the allocation of decision rights. How decisions come about also affects implementation …
Persistent link: https://www.econbiz.de/10013315530
Risk-neutral individuals take more risky decisions when they have limited liability. Risk-neutral managers may not when … actions. The resulting decisions may be less, rather than more, risky. Making a decision after acquiring information provides …
Persistent link: https://www.econbiz.de/10013316254
quantity of resources. Afterwards, one of the proposals is chosen by majority decision. If no proposal obtains a majority, a …
Persistent link: https://www.econbiz.de/10013317275
Models of labor supply derived from stochastic utility representations and discretized sets of feasible hours of work … paper we argue that practicality is not the only feature that can be addressed by means of stochastic choice theory. This … theory also offers a powerful framework for developing a more realistic model for labor supply choices, founded on …
Persistent link: https://www.econbiz.de/10013111826