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Regulatory Arbitrage and the Efficiency of Banking Regulation
Boyer, Pierre - 2016
We study the efficiency of banking regulation under financial integration. Banks freely choose the jurisdiction where … to locate their activities and have private information about their efficiency level. Regulators non-cooperatively offer … regulators to discriminate between banks with different efficiency levels. This result is driven by the endogenous restriction …
Persistent link: https://www.econbiz.de/10012991941
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Observable Strategies, Commitments, and Contracts
Warneryd, Karl - 2021
We consider rules (strategies, commitments, contracts, or computer programs) that make behavior contingent on an opponent’s rule. The set of perfectly observable rules is not well defined. Previous contributions avoid this problem by restricting the rules deemed admissible. We instead limit...
Persistent link: https://www.econbiz.de/10013315559
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Observable Strategies, Commitments, and Contracts
Wärneryd, Karl - CESifo - 2014
We consider rules (strategies, commitments, contracts, or computer programs) that make behavior contingent on an opponent’s rule. The set of perfectly observable rules is not well defined. Previous contributions avoid this problem by restricting the rules deemed admissible. We instead limit...
Persistent link: https://www.econbiz.de/10011086457
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Student Loans and the Allocation of Graduate Jobs
Cigno, Alessandro - 2015
Higher education is not just a signal of innate ability. At least a certain level of educational achievement (degree level, degree mark) is strictly required to perform a graduate job. School leavers fall into two categories, the rich and the poor. Ability is distributed in the same way in both...
Persistent link: https://www.econbiz.de/10013026630
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Competing with Asking Prices
Lester, Benjamin R. - 2016
In many markets, sellers advertise their good with an asking price. This is a price at which the seller will take his good off the market and trade immediately, though it is understood that a buyer can submit an offer below the asking price and that this offer may be accepted if the seller...
Persistent link: https://www.econbiz.de/10012986936
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The Multiplier Effect in Two-Sided Markets with Bilateral Investments
Dizdar, Deniz - 2018
Agents in a finite two-sided market are matched assortatively, based on costly investments. Besides signaling private, complementary types, investments generate direct benefits for partners. We explore quantitative properties of the equilibrium investment behavior. The bilateral external...
Persistent link: https://www.econbiz.de/10012927514
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The Ex Ante Incentive Compatible Core in Exchange Economies With and Without Indivisibilities
Forges, Francoise - 2021
The ex ante incentive compatible core of an exchange economy with private information is the (standard) core of a socially designed characteristic function, which expresses the fact that coalitions allocate goods by means of random incentive compatible mechanisms. We first survey some results in...
Persistent link: https://www.econbiz.de/10013317636
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The Taxation of Bilateral Trade with Endogenous Information
Dang, Tri Vi - 2015
This paper analyzes the effects of taxation on information acquisition and bilateral trade in decentralized markets. We show that a profit tax and a transaction tax have opposite implications for equilibrium outcome in bargaining. A marginal increase of a transaction tax increases the incentive...
Persistent link: https://www.econbiz.de/10013029500
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The Theory of Human Capital Revisited: On the Interaction of General and Specific Investments
Kessler, Anke S.; Lülfesmann, Christoph - CESifo - 2002
Human capital theory distinguishes between training in general-usage and firm-specific skills. In his seminal work, Becker (1964) argues that employers will not be willing to invest in general training when labor markets are competitive. However, they are willing to invest in specific training...
Persistent link: https://www.econbiz.de/10005766086
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The Taxation of Bilateral Trade with Endogenous Information
Dang, Tri Vi; Morath, Florian - CESifo - 2015
This paper analyzes the effects of taxation on information acquisition and bilateral trade in decentralized markets. We show that a profit tax and a transaction tax have opposite implications for equilibrium outcome in bargaining. A marginal increase of a transaction tax increases the incentive...
Persistent link: https://www.econbiz.de/10011120474