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We show theoretically and empirically that executives are paid less for their own firm's performance and more for their rivals' performance if an industry's firms are more commonly owned by the same set of investors. Higher common ownership also leads to higher unconditional total pay. We...
Persistent link: https://www.econbiz.de/10011561142
described for the case where the two parties can simultaneously reveal information publicly to uninformed voters. Inverse …
Persistent link: https://www.econbiz.de/10011507668
When the information used by a principal to monitor an agent is private, and thus non-verifiable by a third party, the … information in order to collect a monetary penalty from him. Restoring credibility may lead to an extreme waste of resources … efficient outcome is feasible by exploiting the timing of private information. If the private information arrives before the …
Persistent link: https://www.econbiz.de/10010212662
similar credentials) on wages. Using a simple model of asymmetric information, I show that RDD estimates the information value … of a diploma. A positive information value arises if employers, unable to observe the test score that determines diploma … information value regardless of whether workers' productivity is solely determined by acquisition of knowledge and skills through …
Persistent link: https://www.econbiz.de/10011757770
For-profit providers are becoming an increasingly important fixture of US higher education markets. Students who attend for-profit institutions take on more educational debt, have worse labor market outcomes, and are more likely to default than students attending similarly-selective public...
Persistent link: https://www.econbiz.de/10011987067
This note examines the potential output gains from the implementation of optimal teacher incentive pay schemes, by calibrating the Hölmstrom and Milgrom (1987) hidden action model using data from Muralidharan and Sundararaman (2011), a teacher incentive pay experiment implemented in Andhra...
Persistent link: https://www.econbiz.de/10011704469
The difference-in-differences (DID) approach that identifies the capitalization of amenities through changes in housing prices has been widely used in the literature of hedonic estimation in the past decade. However, concerns have been raised about how to interpret the estimated capitalization...
Persistent link: https://www.econbiz.de/10014391280
implement or they target younger children. We partner text-messaging technology with school information systems to automate the … gathering and provision of information to parents at scale. In a field experiment across 22 middle and high schools, we used …
Persistent link: https://www.econbiz.de/10011658035
We extract estimation results on the Mincer earnings function from four earlier studies and add new results from a recent dataset. We analyse differences related to differences in earnings concepts, in sampling frame and differences among studies that cannot be explained. Jointly, the studies...
Persistent link: https://www.econbiz.de/10011416388
discourages employee shirking in asymmetric information contexts. Our empirical analysis aims to verify the role of unemployment …
Persistent link: https://www.econbiz.de/10009690747