Showing 1 - 10 of 211
A finite number of sellers (n) compete in schedules to supply an elastic demand. The costs of the sellers have uncertain common and private value components and there is no exogenous noise in the system. A Bayesian supply function equilibrium is characterized; the equilibrium is privately...
Persistent link: https://www.econbiz.de/10003910453
A Bayesian supply function equilibrium is characterized in a market where firms have private information about their uncertain costs. It is found that with supply function competition, and in contrast to Bayesian Cournot competition, competitiveness is affected by the parameters of the...
Persistent link: https://www.econbiz.de/10003763172
We study voting over higher education finance in an economy with risk averse households who are heterogeneous in income …. -- voting ; higher education ; financing scheme …
Persistent link: https://www.econbiz.de/10003897350
Decisions to invest in human capital depend on people's time preferences. We show that differences in patience are closely related to substantial subnational differences in educational achievement, leading to new perspectives on longstanding within-country disparities. We use social-media data -...
Persistent link: https://www.econbiz.de/10014364982
International comparisons of labour market institutions and their transfer across boundaries have gained in importance. The paper deals with the question of the best way to proceed in making such comparisons. At the same time the question of the possibilities and limits to institutional transfer...
Persistent link: https://www.econbiz.de/10011539100
Survey data from the United States, West Germany and East Germany are analyzed to compare individual attitudes towards political redistribution in each country. In West Germany the homo oeconomicus effect , the social rivalry effect and the public values effect simultaneously retain an...
Persistent link: https://www.econbiz.de/10009780207
This paper extends the transformed maximum likelihood approach for estimation of dynamic panel data models by Hsiao, Pesaran, and Tahmiscioglu (2002) to the case where the errors are cross-sectionally heteroskedastic. This extension is not trivial due to the incidental parameters problem that...
Persistent link: https://www.econbiz.de/10009570680
For the procurement of complex goods the early exchange of information is important to avoid costly renegotiation ex post. We show that this is achieved by bilateral negotiations but not by auctions. Negotiations strictly outperforms auctions if sellers are likely to have superior information...
Persistent link: https://www.econbiz.de/10010496962
This paper provides a quantitative comparison of the main architectures for an agreement on climate policy. Possible …
Persistent link: https://www.econbiz.de/10003763299
The quality of public management is a recurrent concern in many countries. Calls to attract the economy’s best and brightest managers to the public sector abound. This paper studies self-selection into managerial and non-managerial positions in the public and private sector, using a model of a...
Persistent link: https://www.econbiz.de/10003772147