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Privatization, Information and Incentives
Sappington, David E. M.; Stiglitz, Joseph E. - 2021
In this paper, the choice between public and private provision of goods and services is considered. In practice, both modes of operation involve significant delegation of authority, and thus appear quite similar in some respects. The argument here is that the main difference between the two mod-...
Persistent link: https://www.econbiz.de/10013220953
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Public Information is an Incentive for Politicians : Experimental Evidence from Delhi Elections
Banerjee, Abhijit V.; Enevoldsen, Nils; Pande, Rohini; … - 2022
In 2010, we informed a random set of Delhi councilors, some ineligible for re-election in their current ward, that a newspaper would report on their performance shortly prior to the 2012 city elections. Using slum dwellers' spending preferences, we created a councilor-specific index of pro-poor...
Persistent link: https://www.econbiz.de/10013307735
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Financial Markets Where Traders Neglect the Informational Content of Prices
Eyster, Erik - 2015
We present a model of a financial market where some traders are "cursed" when choosing how much to invest in a risky asset, failing to fully take into account what prices convey about others' private information. Cursed traders put more weight on their private signals than rational traders. But...
Persistent link: https://www.econbiz.de/10013021869
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Information Dynamics and Equilibrium Multiplicity in Global Games of Regime Change
Angeletos, George-Marios; Hellwig, Christian; Pavan, … - 2021
Global games of regime change -- that is, coordination games of incomplete information in which a status quo is abandoned once a sufficiently large fraction of agents attacks it -- have been used to study crises phenomena such as currency attacks, bank runs, debt crises, and political change. We...
Persistent link: https://www.econbiz.de/10013216888
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Sequential Bargaining Under Asymmetric Information
Grossman, Sanford J. - 2012
We analyze an infinite stage, alternating offer bargaining game in which the buyer knows the gains from trade but the seller does not. Under weak assumptions the game has a unique candidate Perfect Sequential Equilibrium, and it can be solved by backward induction. Equilibrium involves the...
Persistent link: https://www.econbiz.de/10012755371
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Individual Rationality and Participation in Large Scale, Multi-Hospital Kidney Exchange
Ashlagi, Itai - 2011
As multi-hospital kidney exchange clearinghouses have grown, the set of players has grown from patients and surgeons to include hospitals. Hospitals have the option of enrolling only their hard-to-match patient-donor pairs, while conducting easily arranged exchanges internally. This behavior has...
Persistent link: https://www.econbiz.de/10013130977
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The Design of Performance Pay in Education
Neal, Derek A. - 2011
educator performance metrics and measures of student achievement. To mitigate incentives for coaching, incentive systems should … information about student achievement because they create no incentives for educators to take hidden actions that contaminate …
Persistent link: https://www.econbiz.de/10013131241
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Information Aggregation, Investment, and Managerial Incentives
Albagli, Elias - 2011
We study the interplay of share prices and firm decisions when share prices aggregate and convey noisy information about fundamentals to investors and managers. First, we show that the informational feedback between the firm's share price and its investment decisions leads to a systematic...
Persistent link: https://www.econbiz.de/10013121056
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Individual Preferences, Organization, and Competition in a Model of R&D Incentive Provision
Lacetera, Nicola - 2011
provision of incentives to corporate scientists, in an environment where (1) scientists engage in multiple activities when …-monetary incentives; and (4) firms compete on the product market. We show that both the degree of knowledge spillovers and of market … competition affect the incentives given to scientists, and these effects interact. First, high knowledge spillovers lead firms to …
Persistent link: https://www.econbiz.de/10013125567
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Loan Officer Incentives and the Limits of Hard Information
Berg, Tobias - 2013
incentives and limits of hard information verifiability. Using unique data where loans are based on hard information, and loan …
Persistent link: https://www.econbiz.de/10013081841