Showing 1 - 5 of 5
This note shows that, by reducing agency costs, an environmental regulation may enhance pollution-reducing innovation while at the same time increasing firms'private benefit.
Persistent link: https://www.econbiz.de/10005839187
In developing countries, traditional social obligations often press rich individuals to share their income. In this paper, we posit a "model of social pressure" in which people can sign binding financial agreements amongst themselves, thereby forming coalitions. These financial agreements may...
Persistent link: https://www.econbiz.de/10005802053
This paper addresses the question of whether R&D should be carried out by an independent research unit or be produced in-house by the firm marketing the innovation. We define two organizational structures. In an integrated structure, the firm that markets the innovation also carries out and...
Persistent link: https://www.econbiz.de/10005626723
Two players are involved in a joint project during which a decision must be reached. Each player has private information about future profits. Authority gives one player the right to decide first in a pre-defined set of alternatives. In this framework, I show that (partial) authority should be...
Persistent link: https://www.econbiz.de/10005626734
We analyze the production of electricity from n power stations situated along a river in a dynamic model. Each power station's production of electricity is constrained by the quantity of water available to it (capacity constraint) as well as limitations of reservoir capacity (storage...
Persistent link: https://www.econbiz.de/10005626740