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Directed search in the housing market
Albrecht, James W.; Gautier, Pieter; Vroman, Susan B. - 2009
In this paper, we present a directed search model of the housing market. The pricing mechanism we analyze reflects the way houses are bought and sold in the United States. Our model is consistent with the observation that houses are sometimes sold above, sometimes below and sometimes at the...
Persistent link: https://www.econbiz.de/10003932400
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On the origins of entrepreneurship : evidence from sibling correlations
Lindquist, Matthew J.; Sol, Joeri; Praag, Mirjam van; … - 2016
Promoting entrepreneurship has become an increasingly important part of the policy agenda in many countries. The … success of such policies, however, rests in part on the assumption that entrepreneurship outcomes are not fully determined at … background and neighborhood effects as determinants of entrepreneurship, by estimating sibling correlations in entrepreneurship …
Persistent link: https://www.econbiz.de/10011551917
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Who becomes an entrepreneur? : labor market prospects and occupational choice
Poschke, Markus (contributor) - 2008
start, the paper briefly documents evidence from the empirical literature that the relationship between entrepreneurship and … persist in the market, and that returns to entrepreneurship have a much larger cross-sectional variance than returns to wage … entrepreneurship where agents are heterogeneous in their ability as workers, and starting entrepreneurs face uncertainty about their …
Persistent link: https://www.econbiz.de/10003771968
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Entrepreneurship
Lazear, Edward P. (contributor) - 2003 - [Elektronische Ressource]
Persistent link: https://www.econbiz.de/10001750020
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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
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Competition, cooperation, and corporate culture
Kosfeld, Michael (contributor);  … - 2007
Teamwork and cooperation between workers can be of substantial value to a firm, yet the level of worker cooperation often varies between individual firms. We show that these differences can be the result of labor market competition if workers have heterogeneous preferences and preferences are...
Persistent link: https://www.econbiz.de/10003603601
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The role of bounded rationality and imperfect information in subgame perfect implementation : an empirical investigation
Aghion, Philippe; Fehr, Ernst; Holden, Richard T.; … - 2015
mechanism should - in theory - provide incentives for truth-telling, many buyers in fact believe that they can increase their …
Persistent link: https://www.econbiz.de/10010510004
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Search frictions, competing mechanisms and optimal market segmentation
Cai, Xiaoming; Gautier, Pieter; Wolthoff, Ronald - 2016
In a market in which sellers compete for heterogeneous buyers by posting mechanisms, we analyze how the properties of the meeting technology affect the allocation of buyers to sellers. We show that a separate submarket for each type of buyer is the efficient outcome if and only if meetings are...
Persistent link: https://www.econbiz.de/10011476548
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On market forces and human evolution
Saint-Paul, Gilles - 2002
This paper studies how an institution such as markets affects the evolution of mankind. My key point is that the forces of natural selection are made weaker because trade allows people to specialize in those activities where they are strong, and to offset their weaknesses by purchasing adequate...
Persistent link: https://www.econbiz.de/10011414433
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On reputation : a microfoundation of contract enforcement and price rigidity
Fehr, Ernst (contributor); Brown, Martin (contributor);  … - 2008
We study the impact of reputational incentives in markets characterized by moral hazard problems. Social preferences have been shown to enhance contract enforcement in these markets, while at the same time generating considerable wage and price rigidity. Reputation powerfully amplifies the...
Persistent link: https://www.econbiz.de/10003750306