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Public and Private Insurance with Costly Transactions

Bertola, Giuseppe - 2010

We characterize how public insurance schemes are constrained by hidden financial transactions. When non-exclusive private insurance entails increasing unit transaction costs, public transfers are only partly offset by hidden private transactions, and can influence consumption allocation. We show...

Persistent link: https://www.econbiz.de/10013137517

Checkerboards and Coase : Transactions Costs and Efficiency in Land Markets

Akee, Randall - 2021

The Coase theorem emphasizes the role transactions costs play in efficient market outcomes. We document inefficient outcomes, in the presence of a transactions cost, in southern California land markets and the corresponding transition to efficient outcomes after the transactions cost is...

Persistent link: https://www.econbiz.de/10013317335

Willingness to Take Risk : The Role of Risk Conception and Optimism

Dohmen, Thomas J. - 2018

We show that the disposition to focus on favorable or unfavorable outcomes of risky situations affects willingness to take risk as measured by the general risk question. We demonstrate that this disposition, which we call risk conception, is strongly associated with optimism, a stable facet of...

Persistent link: https://www.econbiz.de/10012915178

Managers' Risk Preferences and Firm Training Investments

Caliendo, Marco; Cobb-Clark, Deborah A.; Pfeifer, Harald; … - 2022

We provide the first estimates of the impact of managers' risk preferences on their training allocation decisions. Our conceptual framework links managers' risk preferences to firms' training decisions through the bonuses they expect to receive. Risk-averse managers are expected to select...

Persistent link: https://www.econbiz.de/10013405955

Belief Elicitation in Experiments : Is There a Hedging Problem?

Blanco, Mariana; Engelmann, Dirk; Koch, Alexander K.; … - 2021

existing belief elicitation results, (ii) can we avoid potential hedging confounds? Our results instill confidence regarding … both issues. We propose an experimental design that eliminates hedging opportunities, and use this to test for the … empirical relevance of hedging effects in the lab. We find no evidence for hedging, comparing the standard "hedging …

Persistent link: https://www.econbiz.de/10013325138

Transactions Costs and the Employment Contract in the US Economy

MacLeod, W. Bentley - 2013

In this paper we adapt the model of MacLeod (2007) to provide one way to formally implement some of Williamson's ideas regarding the effect of transactions costs upon employment relationship. We then explore the empirical implications of this model with a data set that measures job...

Persistent link: https://www.econbiz.de/10013083747

Leader Networks and Transaction Costs : A Chinese Experiment in Interjurisdictional Contracting

Chau, Nancy H. - 2016

Do leader networks promote efficient intergovernmental contracts? We examine a groundbreaking policy in China where subprovincial governments freely traded land conversion quotas, and investigate the role of leader networks on the boundary between jurisdictions that embrace trade versus autarky....

Persistent link: https://www.econbiz.de/10013001319

Trade as a Wage Disciplining Device

Persyn, Damiaan - 2021

We estimate how trade openness affects the relationship between wages, labour productivity and foreign wages using sector-level time series for several EU member states. In some countries wages became less responsive to foreign wages as trade costs declined. We show this counter-intuitive result...

Persistent link: https://www.econbiz.de/10013324883

Risk Management Among the Poor : The Case of Microfinancial Services

Arun, Thankom Gopinath - 2010

This paper argues that the level of financial services provision determines the risk management strategies among the poor. The paper estimates the determinants of the household's use of one, two or all three types of microfinancial services applying ordered probit models and additionally probit...

Persistent link: https://www.econbiz.de/10013138260

Female-Led Firms : Performance and Risk Attitudes

Parrotta, Pierpaolo - 2013

This paper investigates the relationship between gender of the CEO and composition of the board of directors (female chairman and share of women in the boardroom) and firm's risk attitudes measured as variability in four firm outcome variables (investments, profits, return to equity, and sales)....

Persistent link: https://www.econbiz.de/10013075784

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