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strategically distorted information. This ambiguity about the type of spy gives rise to a non-standard signaling problem where both … sender and receiver of messages have private information and the sender has a chance to make an unobserved move. Whereas …
Persistent link: https://www.econbiz.de/10012507333
higher continuation values. For some parameter values, higher-quality sellers post the full-information price; for other …
Persistent link: https://www.econbiz.de/10015052556
What is an effective signal in crowd funding? We asked this question to 83 expert researchers who have published the top-notch articles in this field. They stated that, in theory, strong signals include past crowdfunding success, business experience, patent ownership, and the equity share...
Persistent link: https://www.econbiz.de/10015125554
our FAVAR model, which uses information on contractionary initiatives by the Federal Reserve, indicates that the …
Persistent link: https://www.econbiz.de/10012157899
Incentives theory suggests that compensation schemes should be analyzed along two dimensions: controllability and congruence. Most schemes cannot satisfy both criteria at once. EVA bonus schemes, a major managerial innovation of the 90's, favor the congruence criterion. This paper questions ist...
Persistent link: https://www.econbiz.de/10011450490
Voluntary public unemployment systems are limited to a handful of countries, including Finland, Sweden, and, more substantially, Denmark. A voluntary system has the positive feature of other user-cost schemes, potentially efficient targeting of services. This presumes rational behavior as well...
Persistent link: https://www.econbiz.de/10011509374
While the theoretical literature on contracts has been enormous since the seventies, empirical tests of the theory have long remained scarce. However, new empirical work has been developed in the last ten years that sheds light on the empirical validation of the theory. This paper aims at...
Persistent link: https://www.econbiz.de/10011410242
When providing public goods through voluntary contributions, a donor may introduce unilateral matching in order to … reduce underprovision of the public good and thus inefficiency. By itself, however, matching benefits the donor but harms the …
Persistent link: https://www.econbiz.de/10010371914
This paper studies equilibrium unemployment in a two-region economy with matching frictions, where workers and jobs are …. Search-matching externalities are amplified by the latter possibility and by the fact that some workers can simultaneously … receive a job offer from each region. The rest of the framework builds upon Moretti (2011). Increasing the matching …
Persistent link: https://www.econbiz.de/10010515473
Evidence suggests that participants in direct student-proposing deferred-acceptance mechanisms (DA) play dominated strategies. To explain the data, we introduce expectation-based loss aversion into a school-choice setting and characterize choice-acclimating personal equilibria in DA. We find...
Persistent link: https://www.econbiz.de/10012698801