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A game-theoretic foundation for the Wilson equilibrium in competitive insurance markets with adverse selection
Mimra, Wanda; Wambach, Achim - 2011
can be withdrawn after observation of competitors' contract offers. We show that an equilibrium always exists where … consumers obtain their respective Wilson-Miyazaki-Spence (WMS) contract. Jointly profit-making contracts can also be sustained … entry. -- casymmetric information ; competitive insurance market ; contract withdrawal …
Persistent link: https://www.econbiz.de/10009011830
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Finance, labour, capital, and international integration
Bertola, Giuseppe - 2016
Labour incomes depend on structural as well as politico-economic factors, because labour market policies partially remedy the financial market imperfections that make labour income shocks difficult to insure, and have different implications for labour and capital income. This paper illustrates...
Persistent link: https://www.econbiz.de/10011444492
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General training by firms, apprentice contracts, and public policy
Malcomson, James M.; Maw, James W.; McCormick, Barry - 2002
Workers will not pay for general on-the-job training if contracts are not enforceable. Firms may if there are mobility frictions. Private information about worker productivities, however, prevents workers who quit receiving their marginal products elsewhere. Their new employers then receive...
Persistent link: https://www.econbiz.de/10011409458
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News sources and media bias
Garcia-Pires, Armando J.; Kind, Hans Jarle; Sørgard, Lars - 2012
relationship as an informal contract based on trust and punishment, where a news source decides if and how much information to …
Persistent link: https://www.econbiz.de/10009580771
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Information markets, elections and contracts
Gersbach, Hans; Müller, Markus - 2011
Politicians may pander to public opinion and may renounce undertaking beneficial long-term projects. To alleviate this problem, we introduce a triple mechanism involving political information markets, reelection threshold contracts, and democratic elections. An information market is used to...
Persistent link: https://www.econbiz.de/10009009663
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Business groups in emerging markets : financial control and sequential investment
Hainz, Christa (contributor) - 2006
Persistent link: https://www.econbiz.de/10003364605
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Active courts and menu contracts
Anderlini, Luca (contributor); Felli, Leonardo (contributor) - 2006
Persistent link: https://www.econbiz.de/10003456217
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United but (un)equal : human capital, probability of divorce and the marriage contract
Cremer, Helmuth; Pestieau, Pierre; Roeder, Kerstin - 2012
) use of marriage is affected by the possibility of divorce. -- post-marital education ; marriage contract ; divorce …
Persistent link: https://www.econbiz.de/10009683129
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Tenant riskiness, contract length, and the term structure of commercial leases
Brueckner, Jan K.; Rosenthal, Stuart S. - 2022
contracts. Theory shows that the possibility of default on a long-term lease generates a risk/lease-length connection. The …
Persistent link: https://www.econbiz.de/10013482225
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Softening competition by enhancing entry : an example from the banking industry
Bouckaert, Jan; Degryse, Hans - 2002
We show that competing firms relax overall competition by lowering future barriers to entry. We illustrate our findings in a two-period model with adverse selection where banks strategically commit to disclose borrower information. By doing this, they invite rivals to enter their market....
Persistent link: https://www.econbiz.de/10011541031