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Hart, Robert A.; Ma, Yue - 2000

We develop a rationale for the payment by firms of a wage premium on marginal, or overtime, weekly hours. We examine wage-hours contracts within the framework of a two-period specific human capital model with asymmetric information. The wage premium serves to achieve contract efficiency. For...

Persistent link: https://www.econbiz.de/10011335237

Corporate efficiency, credit status and investment

Quader, Manzur; Taylor, Karl - 2014

Using a panel of 1122 UK firms listed on the London Stock Exchange over the period of 1981 to 2009, endogenous switching regression models (SRM) incorporating a predicted corporate efficiency index are estimated in this paper in an effort to clarify the role of cash flow in examining the impact...

Persistent link: https://www.econbiz.de/10010379263

Opportunity and inequality across generations

Koeniger, Winfried; Zanella, Carlo - 2022

We evaluate a temporary public sector employment program targeted at individuals with weak labor market attachment, applying dynamic inverse probability weighting to account for dynamic selection. We show that the program is successful in increasing employment and reducing social assistance....

Persistent link: https://www.econbiz.de/10012879620

Second-degree moral hazard in a real-world credence goods market

Balafoutas, Loukas; Kerschbamer, Rudolf; Sutter, Matthias - 2013

Empirical literature on moral hazard focuses exclusively on the direct impact of asymmetric information on market outcomes, thus ignoring possible repercussions. We present a field experiment in which we consider a phenomenon that we call second-degree moral hazard - the tendency of the supply...

Persistent link: https://www.econbiz.de/10010207314

Healer or gatekeeper? : physicians' role conflict when symptoms are non-verifiable

Carlsen, Benedicte; Nyborg, Karine - 2017

Although physicians are often expected to be gatekeepers to health insurance benefits such as paid sick leave, research indicates a substantial reluctance to reject patient requests for sickness certificates. We show that private information on the patient's part creates a conflict between the...

Persistent link: https://www.econbiz.de/10011647475

Inputs, incentives, and self-selection at the workplace

Amodio, Francesco; Martinez-Carrasco, Miguel A. - 2019

This paper studies how asymmetric information over inputs affects workers' response to incentives and self-selection at the workplace. Using daily records from a Peruvian egg production plant, we exploit a sudden change in the worker salary structure and find that workers' effort, firm profits,...

Persistent link: https://www.econbiz.de/10012147088

Competing with asking prices

Lester, Benjamin; Visschers, Ludo; Wolthoff, Ronald - 2013

In many markets, sellers advertise their good with an asking price. This is a price at which the seller is willing to take his good off the market and trade immediately, though it is understood that a buyer can submit an offer below the asking price and that this offer may be accepted if the...

Persistent link: https://www.econbiz.de/10009696885

A theory of price adjustment under loss aversion

Ahrens, Steffen; Pirschel, Inske; Snower, Dennis J. - 2014

We present a new partial equilibrium theory of price adjustment, based on consumer loss aversion. In line with prospect … theory, the consumers' perceived utility losses from price increases are weighted more heavily than the perceived utility … an otherwise standard dynamic neoclassical model of monopolistic competition. The resulting theory of price adjustment is …

Persistent link: https://www.econbiz.de/10010350414

The impact of trade liberalization on firms' product and labor market power

Dobbelaere, Sabien; Wiersma, Quint - 2020

This paper examines the impact of trade liberalization on firms' product and labor market power. We estimate the prevalence and intensity of firm-level price-cost markups and either wage markups or wage markdowns. We take the dependence between these model-consistent measures of product and...

Persistent link: https://www.econbiz.de/10012169328

Price and saliency in health care: when can targeted nudges change behaviors?

Walker, Brigham - 2020

This paper takes advantage of a natural experiment to examine the relationship between the price and saliency of health services. A large employer e-mailed individually-targeted health education encouraging high-value care to high-risk employees. Weeks before the program launched, a company...

Persistent link: https://www.econbiz.de/10012314696

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