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Flexible contracts
Gottardi, Piero; Tallon, Jean-Marc; Ghirardato, Paolo - 2010
This paper studies the costs and benefits of delegating decisions to superiorly informed agents relative to the use of … play then an important role in determining the costs of delegation. The main focus of the paper lies indeed in the analysis … of these costs and the consequences for whether or not delegation is optimal. We determine and characterize the …
Persistent link: https://www.econbiz.de/10003936681
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Optimal rent extraction in pre-industrial England and France : default risk and monitoring costs
Priks, Mikael (contributor) - 2005
Beginning in the mid-seventeenth century, England changed its system of raising revenues from tax farming, combined with the granting of monopolies, to direct collection within the government administration. Rents were then transferred from tax farmers and monopolists to the central government...
Persistent link: https://www.econbiz.de/10002855576
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When the market drives you crazy : stock market returns and fatal car accidents
Giulietti, Corrado; Tonin, Mirco; Vlassopoulos, Michael - 2018
The stock market influences some of the most fundamental economic decisions of investors, such as consumption, saving, and labor supply, through the financial wealth channel. This pa-per provides evidence that daily fluctuations in the stock market have important - and hitherto neglected -...
Persistent link: https://www.econbiz.de/10011888614
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Implicit vs. explicit incentives : theory and a case study
Demougin, Dominique; Fabel, Oliver; Thomann, Christian - 2009
We derive the optimal contract between a principal and a liquidity-constrained agent in a stochastically repeated environment. The contract comprises a court-enforceable explicit bonus rule and an implicit fixed salary promise that must be self-enforcing. Since the agent's rent increases with...
Persistent link: https://www.econbiz.de/10003850322
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Self-confidence and reactions to subjective performance evaluations
Bellemare, Charles; Sebald, Alexander - 2018
Subjective performance evaluations are commonly used to provide feedback and incentives to workers. However, such evaluations can generate significant disagreements and conflicts, the severity of which may be driven by many factors. In this paper we show that a workers' level of self-confidence...
Persistent link: https://www.econbiz.de/10011927889
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Transferable ageing provisions in individual health insurance contracts
Baumann, Florian; Meier, Volker; Werding, Martin - 2004
We consider lifetime health insurance contracts in which ageing provisions are used to smooth the premium profile. The stock of capital accumulated for each individual can be split into two parts: a premium insurance and an annuitised life insurance, where the latter would be transferable...
Persistent link: https://www.econbiz.de/10011404278
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Plan responses to diagnosis-based payment : evidence from Germany's morbidity-based risk adjustment
Bauhoff, Sebastian; Fischer, Lisa; Göpffarth, Dirk; … - 2017
Many competitive health insurance markets adjust payments to participating health plans according to their enrollees' risk - including based on diagnostic information. We investigate responses of German health plans to the introduction of morbidity-based risk adjustment in the Statutory Health...
Persistent link: https://www.econbiz.de/10011659494
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When labor disputes bring cities to a standstill : the impact of public transit strikes on traffic, accidents, air pollution, and health
Bauernschuster, Stefan; Hener, Timo; Rainer, Helmut - 2015
effects of public transit strikes on urban populations in Germany. Due to higher traffic volumes and longer travel times …
Persistent link: https://www.econbiz.de/10010509598
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Labour demand in Germany : an assessment of non-wage labour costs
Chen, Yu-Fu; Funke, Michael - 2003
The data indicate that non-wage labour costs in Germany have reached a record high in recent years. From 1972 to 2001 …, the ratio of non-wage labour costs to direct compensation in West German manufacturing industry rose from 55.6 per cent to … 81.2 per cent. The topic of non-wage labour costs is increasingly being discussed among and between the political parties …
Persistent link: https://www.econbiz.de/10011507925
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Taxing childcare : effects on family labor supply and children
Gathmann, Christina; Saß, Björn - 2012 - This version: March, 2012
supply ; cognitive skills ; family policy ; Germany …
Persistent link: https://www.econbiz.de/10009518242