Showing 1 - 10 of 1,601
benefits only if they aggregate their private information. Some members of the society, however, are harmed by socially … desirable policies and aim at manipulating information aggregation by misrepresenting their private information. We show that … information can be aggregated and a socially desirable policy can be implemented under a new class of democratic mechanisms …
Persistent link: https://www.econbiz.de/10012994342
When a principal’s monitoring information is private (non-verifiable), the agent should be concerned that the principal … could misrepresent the information to reduce the agent’s wage or collect a monetary penalty. Restoring credibility may lead … when the private information arrives in time to rescale the agent’s effort. Rescaling is more effective than pure monetary …
Persistent link: https://www.econbiz.de/10014043494
This paper analyzes the output, abatement, and investment decisions made by a monopolistic polluter under environmental liability law. The model applied considers both integrated and end-of-pipe abatement technologies. We find that in the case of fixed technology, in many instances negligence...
Persistent link: https://www.econbiz.de/10013092076
We analyze the relationship between legal institutions, innovation and growth. We compare a rigid (law set ex-ante) legal system and a flexible one (law set after observing current technology). The flexible system dominates in terms of welfare, amount of innovation and output growth at...
Persistent link: https://www.econbiz.de/10013067864
Global climate change and other environmental challenges require the development of new energy technologies with lower emissions. In the near-term, R&D investments, either by government or the private sector, can bring down the costs of these lower emission technologies. However, the results of...
Persistent link: https://www.econbiz.de/10013018283
Social preference research has fundamentally changed the way economists think about many important economic and social phenomena. However, the empirical foundation of social preferences is largely based on laboratory experiments with self-selected students as participants. This is potentially...
Persistent link: https://www.econbiz.de/10008671736
relative contributions of involved agents are blurred; either by lack of information about the actual performance of … coarse performance information lead to bargaining asymmetries. In addition, we find that bargainers' subjective entitlements … are also influenced by performance information and the randomness inherent in the production process. These differences in …
Persistent link: https://www.econbiz.de/10013139800
education spending and teacher salaries falls when respondents receive information about existing levels. Treatment effects vary … by prior knowledge in a manner consistent with information effects rather than priming. Support for salary increases is …’ lower support for increases. Information about the tradeoffs between specific spending categories shifts preferences from …
Persistent link: https://www.econbiz.de/10013315477
I present the following proposal: information revealed during non-cartel investigations by competition law enforcement … investigate and prosecute cartels. Currently, in several jurisdictions, information acquired in, for example, a M&A investigation … that govern information use. Reviewing the management and corporate strategy literature, I note that M&As form a vital part …
Persistent link: https://www.econbiz.de/10013315994
Economists usually think that rational voters have little incentives to acquire costly information. We present a … information if media technology is available because then they do not condition their informational decisions on being pivotal …-ride. Further, we show how the quality of information depends on the size of the electorate, the prior knowledge of voters and on …
Persistent link: https://www.econbiz.de/10010877742