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Bounded rationality and socially optimal limits on choice in a self-selection model
Sheshinski, Eytan - 2003
of heterogeneity in the population and that even with very small degrees of non-rationality it may be optimal not to …
Persistent link: https://www.econbiz.de/10011505924
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Comparing default predictions in the rating industry for different sets of obligors
Krämer, Walter; Neumärker, Simon - 2016
We generalize the refinement ordering for well calibrated probability forecasters to the case were the debtors under consideration are not necessarily identical. This ordering is consistent with many well known skill scores used in practice. We also add an illustration using default predictions...
Persistent link: https://www.econbiz.de/10011432495
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Banking panics and the lender of last resort in a monetary economy
Matsuoka, Tarishi; Watanabe, Makoto - 2019
This paper studies the role of a lender of last resort (LLR) in a monetary model where a shortage of bank's monetary …
Persistent link: https://www.econbiz.de/10011956327
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A monetary equilibrium with the lender of last resort
Matsuoka, Tarishi; Watanabe, Makoto - 2023
This paper studies the role of a lender of last resort (LLR) in a monetary model where a shortage of a bank's monetary …
Persistent link: https://www.econbiz.de/10014283905
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The weak rationality principle in economics
Kirchgässner, Gebhard (contributor) - 2005
The weak rationality principle is not an empirical statement but a heuristic rule of how to proceed in social sciences …-foundation and, therefore, employ the rationality assumption in economic models. Then, with reference to the ‘bounded rationality … a part of the rationality assumption. We conclude with some remarks on handling the problems of ‘free will’ as well as …
Persistent link: https://www.econbiz.de/10002730896
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Boundedly rational decision emergence : a general perspective and some selective illustrations
Güth, Werner - 2000
A general framework is described specifying how boundedly rational decision makers generate their choices. Starting from a Master Module which keeps an inventory of previously successful and unsuccessful routines several submodules can be called forth which either allow one to adjust behavior...
Persistent link: https://www.econbiz.de/10009781608
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Government guarantees and bank risk taking incentives
Fischer, Markus; Hainz, Christa; Rocholl, Jörg; … - 2014
This paper analyzes the effect of the removal of government guarantees on bank risk taking. We exploit the removal of …
Persistent link: https://www.econbiz.de/10010257239
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Redistribution with performance pay
Doligalski, Pawel; Ndiaye, Abdoulaye; Werquin, Nicolas - 2020
Half of the jobs in the U.S. feature pay-for-performance. We study nonlinear income taxation in a model where such contracts arise in private labor markets that are constrained by moral hazard frictions. We derive novel formulas for the incidence of arbitrarily nonlinear reforms of a given tax...
Persistent link: https://www.econbiz.de/10012212848
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Financial stability and monetary policy : a framework
Illing, Gerhard (contributor) - 2007
Persistent link: https://www.econbiz.de/10003496868
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International bailouts, moral hazard, and conditionality
Jeanne, Olivier; Zettelmeyer, Jeromin - 2001
The large international bailouts of the 1990s have been criticized for differentreasons, in particular for generating moral hazard at the expense of theglobal taxpayer. We argue in this paper that some of these concerns areexaggerated or misleading because international bailouts have no or...
Persistent link: https://www.econbiz.de/10011400335