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; delegation problem ; moral hazard ; search theory …
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The paper constructs an asymmetric information model to investigate the efficiency and equity cases for government mandated benefits. A mandate can improve workers' insurance, and may also redistribute in favour of more "deserving" workers. The risk is that it may also reduce output. The more...
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This paper exploits the informational value of search theory, after Lancaster and Chesher (1983), in conjunction with …
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