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Insurance and information : firms as a commitment device
Bovenberg, Ary Lans; Teulings, Coen N. - 2001
We explore the role of firms in insuring non-verifiable output. As a device that allows workers to commit to thedelivery of their output, the firm arises endogenously as an alternative to the market if workers are sufficiently riskaverse and the firm can base its incentive payments on good...
Persistent link: https://www.econbiz.de/10011316894
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Consistency, monotonicity and implementation of egalitarian shapley values
Brink, René van den; Funaki, Yukihiko; Ju, Yuan - 2007
of solutions using monotonicity properties. Finally, we provide a non-cooperative implementation for these solutions …
Persistent link: https://www.econbiz.de/10011372987
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Axiomatization and implementation of discounted shapley values
Brink, René van den; Funaki, Yukihiko - 2010
characterizes the corresponding delta-discounted Shapley value. Moreover, we provide a strategic implementation of these solutions …
Persistent link: https://www.econbiz.de/10011380928
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Decision initiation, decision implementation, and the allocation of decision rights
Sloof, Randolph; Siemens, Ferdinand von - 2015
initiation and implementation. If these have social preferences, they might thus sabotage both project choices and implementation … to express their discontent with the allocation of decision rights. How decisions come about also affects implementation … implementation leads to more delegation, but only if workers have high costs of obstructing informed decisions. We further find that …
Persistent link: https://www.econbiz.de/10011333082
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A strategic implementation of the average tree solution for cycle-free graph games
Brink, René van den; Laan, Gerard van der; Moes, Nigel - 2012
Persistent link: https://www.econbiz.de/10009722639
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Auctioning and selling positions : a non-cooperative approach to queuing conflicts
Brink, René van den; Chun, Youngsub; Ju, Yuan - 2014
Complementary to the axiomatic and mechanism design studies on queueing problems, this paper proposes a strategic bargaining approach to resolve queueing conflicts. Given a situation where players with different waiting costs have to form a queue in order to be served, they firstly compete with...
Persistent link: https://www.econbiz.de/10010238945
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Pros and cons of "backing winners" in innovation policy
Butter, Frank A. G. den; Jo, Seung-gyu - 2009
In the economics profession there is a fierce debate whether industrial and innovation policy should be targeted to specific sectors or firms. This paper discusses the welfare effects of such targeted policies from the perspective of strategic game theory of the firm. A theoretical case for...
Persistent link: https://www.econbiz.de/10011377579
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Tainted food, low-quality products and trade
Viaene, Jean-Marie; Zhao, Laixun - 2010
This paper examines international trade in tainted food and other low-quality products. Wefirst find that for a large class of environments, free trade is the trading system that conveysthe highest incentives to produce non-tainted high-quality goods by foreign exporters.However, free trade...
Persistent link: https://www.econbiz.de/10011379610
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Cycles and multiple equilibria in the market for durable lemons
Janssen, Maarten C. W.; Karamychev, Vladimir A. - 2000
We investigate the nature of market failure in a dynamic version of Akerlof (1970) where identical cohorts of a durable good enter the market over time. In the dynamic model, equilibria with qualitatively different properties emerge. Typically, in equilibria of the dynamic model, sellers with...
Persistent link: https://www.econbiz.de/10011303313
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Continuous time trading in markets with adverse selection
Janssen, Maarten C. W.; Karamychev, Vladimir A. - 2000
We investigate the nature of the adverse selection problem in a market for adurable goodwhere trading and entry of new buyers and sellers takes place in continuoustime. In thecontinuous time model equilibria with properties that are qualitativelydifferent from thestatic equilibria, emerge....
Persistent link: https://www.econbiz.de/10011304379