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Diagnostic Uncertainty and Insurance Coverage in Credence Goods Markets
Balafoutas, Loukas; Fornwagner, Helena; Kerschbamer, Rudolf - 2021
framework. We test the model's predictions in a laboratory experiment. Both in theory and in the experiment diagnostic … uncertainty decreases the rate of efficient service provision and leads to less trade. In theory, insurance also decreases the …
Persistent link: https://www.econbiz.de/10013314990
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Business Conditions and Default Risks Across Countries
Pflüger, Michael - 2011
The risk of default that business firms face is very significant and differs widely across countries. This paper … explores the links between countries' business conditions and international trade embedment and the default risk at the country … default risk of firms which operate in these environments. The predictions are in accord with readily available data …
Persistent link: https://www.econbiz.de/10013128748
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Information, Uncertainty, and Subjective Entitlements in Bargaining
Karagözoğlu, Emin - 2010
More often than not production processes are the joint endeavor of people having different abilities and productivities. Such production processes and the associated surplus production are often not fully transparent in the sense that the relative contributions of involved agents are blurred;...
Persistent link: https://www.econbiz.de/10013139946
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Downward Revision of Investment Decisions after Corporate Tax Hikes
Link, Sebastian; Menkhoff, Manuel; Peichl, Andreas; … - 2023
This paper estimates the causal effect of corporate tax hikes on firm investment based on more than 1,400 local tax changes. By observing planned and realized investment volumes in a representative sample of German manufacturing firms, we can study how tax hikes induce firms to revise their...
Persistent link: https://www.econbiz.de/10014351266
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Asymmetric Information in the Labor Market, Immigrants and Contract Menu
Kar, Saibal - 2011
Immigrant workers and their labor force participation in host countries have received critical attention in all concerned disciplines, principally owing to its strong implications for well-being of natives. The aging population in many rich countries and several related and unrelated issues...
Persistent link: https://www.econbiz.de/10013129911
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Asymmetric Information between Employers
Kahn, Lisa B. - 2013
Employer learning about workers' abilities plays a key role in determining how workers sort into jobs and are compensated. This study explores whether learning is symmetric or asymmetric, i.e., whether potential employers have the same information about worker ability as the incumbent firm. I...
Persistent link: https://www.econbiz.de/10013087866
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Layoff Costs and Efficiency with Asymmetric Information
Delacroix, Alain - 2009
Wage determination under asymmetric information generates inefficiencies due to excess turnover. Severance pay and layoff taxes can improve efficiency. We show that inefficient separations can even be fully removed with fixed separation taxes in the case where the relevant private information is...
Persistent link: https://www.econbiz.de/10013154993
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Employment Fluctuations with Downward Wage Rigidity : The Role of Moral Hazard
Costain, James S. - 2009
This paper studies the cyclical dynamics of Mortensen and Pissarides' (1994) model of job creation and destruction when workers' effort is not perfectly observable, as in Shapiro and Stiglitz (1984). An occasionally-binding no-shirking constraint truncates the real wage distribution from below,...
Persistent link: https://www.econbiz.de/10013157042
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Signaling and Employer Learning with Instruments
Aryal, Gaurab - 2020
The social and the private returns to education differ when education can increase productivity, and also be used to signal productivity. We show how instrumental variables can be used to separately identify and estimate the social and private returns to education within the employer learning...
Persistent link: https://www.econbiz.de/10012842034
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The Economics of Credence Goods : On the Role of Liability, Verifiability, Reputation and Competition
Dulleck, Uwe - 2009
determinants for efficiency in credence goods markets. While theory predicts that either liability or verifiability yields …
Persistent link: https://www.econbiz.de/10012764487