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Flexible contracts
Gottardi, Piero; Tallon, Jean-Marc; Ghirardato, Paolo - 2010
This paper studies the costs and benefits of delegating decisions to superiorly informed agents relative to the use of rigid, non discretionary contracts. Delegation grants some flexibility in the choice of the action by the agent, but also requires the use of an appropriate incentive contract...
Persistent link: https://www.econbiz.de/10003936681
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Optimal rent extraction in pre-industrial England and France : default risk and monitoring costs
Priks, Mikael (contributor) - 2005
cost of tax farming is the ex-ante inefficiency due to the auction mechanism while a cost of direct collection is the ex …-post monitoring cost the government incurs to prevent theft. When the monitoring cost is high the government therefore allows tax …
Persistent link: https://www.econbiz.de/10002855576
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Gravity redux : measuring international trade costs with panel data
Novy, Dennis - 2011
trade costs that indirectly infers trade frictions from observable trade data. I show that this trade cost measure is …
Persistent link: https://www.econbiz.de/10009349934
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Disentangling frictions across the world : markups versus trade costs
Heid, Benedikt; Stähler, Frank - 2024
markups over time. With minimal assumptions, we can disentangle aggregate markup and trade cost changes from observed changes … costs have fallen by 3.1% per year on average, we find a strong negative correlation between observed trade cost and markup …
Persistent link: https://www.econbiz.de/10015081337