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A Product Market Theory of Worker Training

Gersbach, Hans; Schutzler, Armin - 2001

We develop a product market theory that explains why firms invest in general training of their workers. We consider a … employees and finally engage in imperfect product market competition. Equilibria with and without training, and multiple … equilibria can emerge. If competition is sufficiently soft and trained workers are substitutes, firms may invest in non …

Persistent link: https://www.econbiz.de/10010262533

Employment Protection, Product Market Competition and Growth

Koeniger, Winfried - 2002

competition. For reasonable parameter values product market deregulation fosters growth substantially more in the flexible than in …

Persistent link: https://www.econbiz.de/10010262692

Doping and cheating in contest-like situations

Kräkel, Matthias - 2006

Individuals who compete in a contest-like situation (for example, in sports, in promotion tournaments, or in an appointment contest) may have an incentive to illegally utilize resources in order to improve their relative positions. We analyze such doping or cheating within a tournament game...

Persistent link: https://www.econbiz.de/10010267284

Self-selection and the efficiency of tournaments

Eriksson, Tor; Teyssier, Sabrina; Villeval, Marie-Claire - 2006

When exogenously imposed, rank-order tournaments have incentive properties but their overall efficiency is reduced by a high variance in performance (Bull, Schotter, and Weigelt 1987). However, since the efficiency of performance-related pay is attributable both to its incentive effect and to...

Persistent link: https://www.econbiz.de/10010267611

Competition, hidden information and efficiency: an experiment

Cabrales, Antonio; Charness, Gary; Villeval, Marie-Claire - 2006

We devise an experiment to explore the effect of different degrees of competition on optimal contracts in a hidden … principals. We first show theoretically how these different degrees of competition affect outcomes and efficiency. Informational … relative number of agents because competition reduces the agents' informational monopoly power. However, this environment also …

Persistent link: https://www.econbiz.de/10010267782

Interdependency in performance

Haraguchi, Kelii H.; Waddell, Glen R. - 2007

We empirically model performance in the final round of a multiple-round tournament as a spatially autoregressive process, allowing us to sign and quantify the endogenous interactions between competitors. Doing so speaks to significant regularities in the data that suggest that a player's own...

Persistent link: https://www.econbiz.de/10010268504

Good governance and good aid allocation

Epstein, Gil S.; Gang, Ira N. - 2008

receiving aid. Potential recipients must compete for the aid funds. The structure of the competition is important to the donor …

Persistent link: https://www.econbiz.de/10010268553

Human capital investment with competitive labor search

Kaas, Leo; Zink, Stefan - 2008

We study human capital accumulation in an environment of competitive search. Given that unemployed workers can default on their education loans, skilled individuals with a larger debt burden prefer riskier but better paid careers than is socially desirable. A higher level of employment risk in...

Persistent link: https://www.econbiz.de/10010268607

Competition and relational contracts: the role of unemployment as a disciplinary device

Brown, Martin; Falk, Armin; Fehr, Ernst - 2008

When unemployment prevails, relations with a particular firm are valuable for workers. As a consequence, a worker may adhere to an implicit agreement to provide high effort, even when performance is not third-party enforceable. But can implicit agreements - or relational contracts - also...

Persistent link: https://www.econbiz.de/10010268823

Between agora and shopping mall

Falkinger, Josef - 2008

Advertisements provide consumers with knowledge about private products, whereas political information is required to provide voters with knowledge of public issues. Modern information technologies and globalization are increasing the exposure of individuals to information. Goods advertising is...

Persistent link: https://www.econbiz.de/10010269262