concerned about being induced to finance bad risk projects when conditions deteriorate. A monopoly bank provides the socially … schlechten Projekte zu finanzieren. Eine monopolistische Bank leistet die sozial-optimale Auswahl guter Risiken, aber die …

By international comparison as well as compared to other EU policies, the EU‘s Cohesion Policy (CP) evaluation system … is far developed and institutionalized. This paper analyses the remaining gaps and shortcomings in the CP evaluation … presence of a broad and imprecise CP objective function emerges as a key challenge for evaluations. The evaluation culture is …

? Suppose a manager's evaluation is private information. Justifying her evaluation is costly but limits the principal's scope … for distorting her evaluation of the employee. I show that the manager justifies her evaluation if and only if the … employee's performance was poor. The justification assures the employee that the manager has not distorted the evaluation …