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Does having insurance change individuals self-confidence?
Guber, Raphael; Kocher, Martin; Winter, Joachim - 2018
Recent research in contract theory on the effects of behavioral biases implicitly assumes that they are stable, in the … case. We show that in an insurance context, being insured against losses that may be incurred in a real-effort task changes … subjects' self-confidence. Our novel experimental design allows us to disentangle selection into insurance from the effects of …
Persistent link: https://www.econbiz.de/10011899247
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A decomposition of U.S. business sector TFP growth into technical progress and cost efficiency components
Diewert, Walter E.; Fox, Kevin J. - 2016
Persistent link: https://www.econbiz.de/10011575029
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Determinants of the interest rate pass-through of banks : evidence from German loan products
Schlüter, Tobias; Busch, Ramona; Hartmann-Wendels, Thomas - 2012
This article examines the loan rate-setting behavior of German banks for a large variety of retail and corporate loan products. We find that a bank’s operational efficiency is priced in bank loan rates and alters interest-setting behavior. Specifically, we establish that a higher degree of...
Persistent link: https://www.econbiz.de/10009656155
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Dynamic efficiencies of industrialization in LDSs
Alam, M. Shahid - 1985
Persistent link: https://www.econbiz.de/10003466264
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Marriage as insurance: job protection and job insecurity in France
Clark, Andrew E.; D'Ambrosio, Conchita; Lepinteur, Anthony - 2021
Persistent link: https://www.econbiz.de/10012581890
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Finanzierungsstrukturen im Vergleich : eine Analyse europäischer Unternehmen
Ramb, Fred - 1998
Thirty years after the seminal work of Modigliani and Miller and countless articles the capital structure puzzle is for the most part unsolved. Especially, in this field of research there is a considerable lack of empirical evidence. Using firm level data from seven European countries, this...
Persistent link: https://www.econbiz.de/10013428155
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Certification and market transparency
Stahl, Konrad; Strausz, Roland - 2017
In markets with quality unobservable to buyers, third-party certification is often the only instrument to increase transparency. While both sellers and buyers have a demand for certification, its role differs fundamentally: sellers use it for signaling, buyers use it for inspection. Seller...
Persistent link: https://www.econbiz.de/10011590937
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Trading under market impact : crossing networks interacting with dealer markets
Bielagk, Jana; Horst, Ulrich; Moreno-Bromberg, Santiago - 2017
We use a model with agency frictions to analyze the structure of a dealer market that faces competition from a crossing network. Traders are privately informed about their types (e.g. their portfolios), which is something the dealer must take into account when engaging his counterparties....
Persistent link: https://www.econbiz.de/10011705180
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The price impact of CDS trading
Gündüz, Yalın; Nasev, Julia; Gehde-Trapp, Monika - 2013
In this paper we show that informational and real frictions in CDS markets strongly affect CDS premia. We derive this main finding using a proprietary set of individual CDS transactions cleared by the Depository Trust & Clearing Corporation. We first show that CDS traders adjust the CDS premium...
Persistent link: https://www.econbiz.de/10009751104
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Exit options and the allocation of authority
Bester, Helmut; Krähmer, Daniel - 2013
We analyze the optimal allocation of authority in an organization whose members have conflicting preferences. One party has decision-relevant private information, and the party who obtains authority decides in a self-interested way. As a novel element in the literature on decision rights, we...
Persistent link: https://www.econbiz.de/10009752337