Showing 1 - 10 of 13
subsidize the socially most valuable green innovations. We find that carbon pricing works as an innovation screening device … perfect screening and generalize results to screening policies under alternative intellectual property regimes and …
Persistent link: https://www.econbiz.de/10013365365
heterogenous response improves screening efficiency: 1) all employees place similar value on staying in their current role; 2) the … announcement reduced the screening efficiency gap - defined as the reduction of screening efficiency stemming from the partial …
Persistent link: https://www.econbiz.de/10013332099
Competition authorities increasingly rely on economic screening tools to identify markets where firms deviate from … competitive norms. Traditional screening methods assume that collusion occurs through secret agreements. However, recent research … propose a novel approach to screening for collusion in public corporate statements. Using natural language processing, we …
Persistent link: https://www.econbiz.de/10015434412
We study the importance of information technology (IT) in banking for entrepreneurship. Guided by a parsimonious model, we establish that job creation by young firms is stronger in US counties more exposed to banks with greater IT adoption. We present evidence consistent with banks’ IT...
Persistent link: https://www.econbiz.de/10015048384
competing financiers undertake their screening decisions in an uncoordinated way, thereby highlighting the role of intertemporal … screening externalities induced by competition among venture capitalists as a structural source of instability. We show that … uncoordinated screening behavior of competing financiers is an independent source of fluctuations inducing venture investment cycles …
Persistent link: https://www.econbiz.de/10011506424
We study the optimal duration of contracts in a principal-agent framework with both moral hazard and adverse selection. Agents decide on a contract-specific and non-verifiable investment. Incentive compatibility requires that initial contracts, which serve to screen the ability of newly hired...
Persistent link: https://www.econbiz.de/10011780588
We propose a simple model of borrower optimism in competitive lending markets with asymmetric information. Borrowers in our model engage in self-deception to arrive at a belief that optimally trades off the anticipatory utility benefits and material costs of optimism. Lenders' contract design...
Persistent link: https://www.econbiz.de/10012213062
Trust affects almost all human relationships - in families, organizations, markets and politics. However, identifying the conditions under which trust, defined as people's beliefs in the trustworthiness of others, has a causal effect on the efficiency of human interactions has proven to be...
Persistent link: https://www.econbiz.de/10011927871
Under weak contract enforcement the trading parties' trust, defined as their belief in other's trustworthiness, appears important for realizing gains from trade. In contrast, under strong contract enforcement beliefs about other's trustworthiness appear less important, suggesting that trust and...
Persistent link: https://www.econbiz.de/10012415967
We analyze the relationship between Microfinance Institutions (MFIs) and external donors, with the aim of contributing to the debate on "mission drift" in microfinance. We assume that both the donor and the MFI are pro-poor, possibly at different extents. Borrowers can be (very) poor or...
Persistent link: https://www.econbiz.de/10011602702