Showing 1 - 10 of 523
compensation. The model combines multitasking and screening, embedded into a Hotelling-like framework. Competition for the most …
Persistent link: https://www.econbiz.de/10010293214
compensation. The model combines multitasking and screening, embedded into a Hotelling-like framework. Competition for the most …
Persistent link: https://www.econbiz.de/10010635587
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/10010276700
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/10004976877
How are the welfare costs from monopoly distributed across U.S. households? We answer this question for the U.S. credit card industry, which is highly concentrated, charges interest rates that are 3.4 to 8.8 percentage points above perfectly competitive pricing, and has repeatedly lost antitrust...
Persistent link: https://www.econbiz.de/10012180029
The existing delegation literature has focused on different preferences of principal and agent concerning project selection, which makes delegating authority costly for the principal. This paper shows that delegation has a cost even when the preferences of principal and agent are exogenously...
Persistent link: https://www.econbiz.de/10011816561
such as informal agreements and ex post renegotiation. We investigate the relevance of these features experimentally. Our … the presence of informal agreements and ex post renegotiation. However, our data also reveal new behavioral features that … renegotiation changes how trading parties evaluate ex post outcomes. Interestingly, the availability of these additional options …
Persistent link: https://www.econbiz.de/10010282296
such as informal agreements and ex post renegotiation. We investigate the relevance of these features experimentally. Our … the presence of informal agreements and ex post renegotiation. However, our data also reveal new behavioral features that … renegotiation changes how trading parties evaluate ex post outcomes. Interestingly, the availability of these additional options …
Persistent link: https://www.econbiz.de/10009371874
-sharing, screening opportunities, and competition are important driving forces behind these new forms of work organization. We document … control strategy prevails, while the possibility of screening renders the trust strategy profitable. The introduction of …
Persistent link: https://www.econbiz.de/10010269521
-sharing, screening opportunities, and competition are important driving forces behind these new forms of work organization. We document … control strategy prevails, while the possibility of screening renders the trust strategy profitable. The introduction of …
Persistent link: https://www.econbiz.de/10008543256