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Optimal allocations in growth models with private information

Krebs, Tom; Scheffel, Martin - 2022

This paper considers a class of growth models with idiosyncratic human capital risk and private information about individual effort choices (moral hazard). Households are infinitely-lived and have preferences that allow for a time-additive expected utility representation with a one-period...

Persistent link: https://www.econbiz.de/10013426651

Efficiency gains from team-based coordination : large-scale experimental evidence

Feri, Francesco (contributor); Irlenbusch, Bernd (contributor) - 2008

The need for efficient coordination is ubiquitous in organizations and industries. The literature on the determinants of efficient coordination has focused on individual decision-making so far. In reality, however, teams often have to coordinate with other teams. We present an experiment with...

Persistent link: https://www.econbiz.de/10003760231

Asymmetric information under the Kafala sponsorship system : impacts on foreign domestic workers' income and employment status in the GCC countries

Malit, Froilan T. <Jr.>; Naufal, George - 2016

This paper examines the legal and policy implications of information asymmetry on foreign domestic workers employed under the Kafala sponsorship system in the Gulf Cooperation Council (GCC) countries. Drawing from ethnographic and field-based observations in large GCC migrant destinations -...

Persistent link: https://www.econbiz.de/10011476493

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

Worker self-selection and the profits from cooperation

Kosfeld, Michael (contributor); … - 2008

We investigate a competitive labor market with team production. Workers differ in their motivation to exert team effort and types are private information. We show that there can exist a separating equilibrium in which workers self-select into different firms and firms employing cooperative...

Persistent link: https://www.econbiz.de/10003784391

Task difficulty, performance measure characteristics, and the trade-off between insurance and well-allocated effort

Schnedler, Wendelin (contributor) - 2006

When designing incentives for a manager, the trade-off between insurance and a "good" allocation of effort across various tasks is often identified with a trade-off between the responsiveness (sensitivity, precision, signal-noise ratio) of the performance measure and its similarity (congruity,...

Persistent link: https://www.econbiz.de/10003323166

Negative externalities and equilibrium existence in competitive markets with adverse selection

Siemens, Ferdinand von; Kosfeld, Michael - 2009

Rothschild and Stiglitz (1976) show that there need not exist a competitive equilibrium in markets with adverse selection. Building on their framework we demonstrate that externalities between agents - an agent's utility upon accepting a contract depends on the average type attracted by the...

Persistent link: https://www.econbiz.de/10003831629

The impact of distributional preferences on (experimental) markets for expert services

Kerschbamer, Rudolf; Sutter, Matthias; Dulleck, Uwe - 2009

, verifiability fails to yield efficiency in experiments with endogenous prices. We identify heterogeneous distributional preferences … selfish, efficiency loving, inequality averse, inequality loving or competitive. Results show that most subjects exhibit non …-standard distributional preferences, among which efficiency-loving and inequality aversion are most frequent. We discuss implications for …

Persistent link: https://www.econbiz.de/10003931304

What drives taxi drivers? : a field experiment on fraud in a market for credence goods

Balafoutas, Loukas; Beck, Adrian; Kerschbamer, Rudolf; … - 2011

Credence goods are characterized by informational asymmetries between sellers and consumers that invite fraudulent behavior by sellers. This paper presents the results of a natural field experiment on taxi rides in Athens, Greece, set up to measure different types of fraud and to examine the...

Persistent link: https://www.econbiz.de/10009306313

International migration, imperfect information, and brain drain

Dequiedt, Vianney; Zenou, Yves - 2011

We consider a model of international migration where skills of workers are imperfectly observed by firms in the host country and where information asymmetries are more severe for immigrants than for natives. There are two stages. In the first one, workers in the South decide whether to move and...

Persistent link: https://www.econbiz.de/10009309617

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