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Sweet Lemons: Mitigating Collusion in Organizations
Pollrich, Martin; von Negenborn, Colin - 2018
This paper shows that the possibility of collusion between an agent and a supervisor imposes no restrictions on the set … implementable if the supervisor′s information was public is also implementable when this information is private and collusion is …
Persistent link: https://www.econbiz.de/10011932965
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Intermediation, Compensation and Collusion in Insurance Markets
Focht, Uwe; Richter, Andreas; Schiller, Jörg - 2007
. However, since intermediation reduces insurers’ market power, incentives for tacit collusion are higher compared to markets …
Persistent link: https://www.econbiz.de/10010427742
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Auctions versus negotiations: The effects of inefficient renegotiation
Herweg, Fabian; Schmidt, Klaus M. - 2017
For the procurement of complex goods the early exchange of information is important to avoid costly renegotiation. If the buyer can specify the main characteristics of possible design improvements in a complete contingent contract, a scoring auction implements the efficient allocation. If this...
Persistent link: https://www.econbiz.de/10011663451
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Procurement with Unforeseen Contingencies
Herweg, Fabian; Schmidt, Klaus - 2017
The procurement of complex projects is often plagued by large cost overruns. One important reason for these additional costs are flaws in the initial design. If the project is procured with a price-only auction, sellers who spotted some of the flaws have no incentive to reveal them early. Each...
Persistent link: https://www.econbiz.de/10011932912
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Optimal procurement of a credence good under limited liability
Bester, Helmut; Yaofu, Ouyang - 2018
This paper analyzes the optimal contract for a consumer to procure a credence good from an expert when (i) the expert might misrepresent his private information about the consumer's need, (ii) the expert might not choose the requested service since his choice of treatment is non-observable, and...
Persistent link: https://www.econbiz.de/10011782152
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Common agency with informed principals: Menus and signals
Galperti, Simone - 2011
agency models with uninformed principals, the Delegation Principle (Menu Theorem) fails when principals are informed. I then … outcomes of arbitrary games with delegation as outcomes of a new game in which principals offer menus and send cheap …-talk signals. Next, I characterize the outcomes of arbitrary games without delegation as outcomes of a new game in which principals …
Persistent link: https://www.econbiz.de/10010282913
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Responsibility-Shifting through Delegation: Evidence from China's One-Child Policy
Liu, Yiming; Han, Yi - 2023
We provide evidence on how responsibility-shifting through delegation occurred in China's implementation of the one … responsibility-shifting effect of delegation. …
Persistent link: https://www.econbiz.de/10014467724
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Ruled by Robots: Preference for Algorithmic Decision Makers and Perceptions of Their Choices
Chugunova, Marina; Luhan, Wolfgang - 2023
As technology-assisted decision-making is becoming more widespread, it is important to understand how the algorithmic nature of the decisionmaker affects how decisions are perceived by the affected people. We use a laboratory experiment to study the preference for human or algorithmic decision...
Persistent link: https://www.econbiz.de/10014467833
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Direct democracy, political delegation, and responsibility substitution
Prato, Carlo; Strulovici, Bruno - 2010
Can direct democracy provisions improve welfare over pure representative democracy? This paper studies how such provisions affect politicians' incentives and selection. While direct democracy allows citizens to correct politicians' mistakes, it also reduces the incentives of elected...
Persistent link: https://www.econbiz.de/10010286984
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Cournot Meets Bayes-Nash: A Discontinuity in Behavior in Finitely Repeated Duopoly Games
Argenton, Cédric; Ivanova-Stenzel, Radosveta; Müller, … - 2023
information, our data confirm the well-known result that duopoly players achieve, on average, partial collusion. However, as soon …
Persistent link: https://www.econbiz.de/10014467868