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Delegation of regulation
Kundu, Tapas; Nilssen, Tore - 2017
We develop a model to discuss a government's incentives to delegate to bureaucrats the regulation of an industry. The …-based regulation policy requires the government to make use of a bureaucracy; this has a bureaucratic cost, as the bureaucracy diverts … implications for when and how a government should delegate its regulation of industry. We find that bureaucratic discretion reduces …
Persistent link: https://www.econbiz.de/10011700470
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Regulation and internet access in Germany
Reutter, Michael - 2001
We explain the recent events in the German market for online access using a model of a regulated monopoly renting phone lines to retailers. Retailers offer either a linear or a flat tariff to consumers. Consumer heterogeneity leads to adverse selectiion. We show why market entry for flatrate...
Persistent link: https://www.econbiz.de/10011398800
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Risk selection in natural disaster insurance : the case of France
Jametti, Mario (contributor);  … - 2006
It is widely recognized that market failureʺ prevents efficient risk sharing in natural disaster insurance. As a consequence, many countries adopted institutional frameworks presenting public sector participation, often praised as public-private partnerships. We define risk selection as a...
Persistent link: https://www.econbiz.de/10003301201
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How is the trade-off between adverse selection and discrimination risk affected by genetic testing? : theory and experiment
Bardey, David; De Donder, Philippe; Mantilla, César - 2017 - This version: April 2017
We compare two genetic testing regulations, Disclosure Duty (DD) and Consent Law (CL), in an environment where individuals choose to take a genetic test or not. DD forces agents to reveal the test results to their insurers, resulting in a discrimination risk. CL allows agents to withhold that...
Persistent link: https://www.econbiz.de/10011624208
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A look upstream : electricity market restructuring, risk, procurement contracts and efficiency
Di Maria, Corrado; Lange, Ian; Lazarova, Emiliya A. - 2014 - This version: November 25, 2014
investigate the impact this change in procurement contracts has on efficiency. Focusing on coal mines, we find that those selling …
Persistent link: https://www.econbiz.de/10010464693
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Adverse selection in the annuity market when payoffs vary over the time of retirement
Brunner, Johann K.; Pech, Susanne - 2001
This paper investigates the effect of adverse selection and price competition on the private annuity market in a model with two retirement periods. In this framework annuity companies can offer contracts with different payoffs over the periods of retirement. Varying the time structure of the...
Persistent link: https://www.econbiz.de/10011397919
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The revelation and delegation principles in common agency games
Martimort, David; Stole, Lars A. - 2001
In the context of common agency adverse-selection games weillustrate that the revelation principle cannot be applied to studyequilibria of the multi-principal games. We then demonstrate thatan extension of the taxation principle what we term the delegation principle can be used to characterize...
Persistent link: https://www.econbiz.de/10011400675
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Contractual externalities and common agency equilibria
Martimort, David; Stole, Lars A. - 2001
This paper characterizes the equilibrium sets of an intrinsic common agency game with direct exter-nalities between principals both under complete and asymmetric information. Direct externalities arise when the contracting variable of one principal affects directly the other principal s payoff....
Persistent link: https://www.econbiz.de/10011400799
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Market transparency, adverse selection, and moral hazard
Klein, Tobias J.; Lambertz, Christian; Stahl, Konrad - 2013
We study the effects of improvements in market transparency on eBay on seller exit and continuing sellers' behavior. An improvement in market transparency by reducing strategic bias in buyer ratings led to a significant increase in buyer valuation especially of sellers rated poorly prior to the...
Persistent link: https://www.econbiz.de/10010227243
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Team production in competitive labor markets with adverse selection
Siemens, Ferdinand von; Kosfeld, Michael - 2014
Team production is a frequent feature of modern organizations. Combined with team incentives, team production can create externalities among workers, since their utility upon accepting a contract depends on their team's performance and therefore on their colleagues' productivity. We study the...
Persistent link: https://www.econbiz.de/10010245995