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Persistent Private Information
Williams, Noah - 2008
This paper studies the design of optimal contracts in dynamic environments where agents have private information that is persistent. In particular, I focus on a continuous time version of a benchmark insurance problem where a risk averse agent would like to borrow from a risk neutral lender to...
Persistent link: https://www.econbiz.de/10012772314
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The Insurance is the Lemon : Failing to Index Contracts
Hartman-Glaser, Barney - 2019
We model the widespread failure of contracts to share risk using available indices. A borrower and lender can share risk by conditioning repayments on an index. The lender has private information about the ability of this index to measure the true state that the borrower would like to hedge. The...
Persistent link: https://www.econbiz.de/10012894992
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Contracts as Reference Points - Experimental Evidence
Fehr, Ernst - 2010
In a recent paper, Hart and Moore (2008) introduce new behavioral assumptions that can explain long-term contracts and important aspects of the employment relation. However, so far there exists no direct evidence that supports these assumptions and, in particular, Hart and Moore's notion that...
Persistent link: https://www.econbiz.de/10012758135
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Optimal Liability When the Injurer's Information About the Victim's Loss is Imperfect
Polinsky, A. Mitchell - 2008
A central result in the economic theory of liability is that, if an injurer's liability equals the victim's loss, then … either the rule of strict liability or the rule of negligence can induce the injurer to behave properly. However, for this … and, g fortiori, before any harm has occurred. This paper reevaluates the rules of strict liability and negligence when …
Persistent link: https://www.econbiz.de/10014103716
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The Choice between Formal and Informal Intellectual Property : A Literature Review
Hall, Bronwyn H. - 2014
We survey the economic literature, both theoretical and empirical, on the choice of intellectual property protection by firms. Our focus is on the tradeoffs between using patents and disclosing versus the use of secrecy, although we also look briefly at the use of other means of formal...
Persistent link: https://www.econbiz.de/10013066272
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Copyright Protection, Technological Change, and the Quality of New Products : Evidence from Recorded Music Since Napster
Waldfogel, Joel - 2014
Recent technological changes may have altered the balance between technology and copyright law for digital products. While file-sharing has reduced revenue, other technological changes have reduced the costs of bringing creative works to market. As a result, we don't know whether the effective...
Persistent link: https://www.econbiz.de/10013067291
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Dead Poet's Property - How Does Copyright Influence Price?
Li, Xing - 2015
This article exploits a differential increase in copyright under the UK Copyright Act of 1814 - in favor of books by dead authors – to examine the influence of longer copyrights on price. Difference-in-differences analyses, which compare changes in the price of books by dead and living...
Persistent link: https://www.econbiz.de/10013016017
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Lost in the Clouds : The Impact of Changing Property Rights on Investment in Cloud Computing Ventures
Lerner, Josh - 2015
Our analysis seeks to understand the impact of changing allocations of property rights on investment in new firms. We focus on the Cartoon Network, et al. v. Cablevision decision in the U.S., which narrowed the protection enjoyed by content creators (e.g., movie studios) and gave greater rights...
Persistent link: https://www.econbiz.de/10013022936
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Effects of Copyrights on Science - Evidence from the Us Book Republication Program
Biasi, Barbara - 2018
Copyrights for books, news, and other types of media are a critical mechanism to encourage creativity and innovation. Yet economic analyses continue to be rare, partly due to a lack of experimental variation in modern copyright laws. This paper exploits a change in copyright laws as a result of...
Persistent link: https://www.econbiz.de/10012929004
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Does Copyright Piracy Pay? The Effects of U.S. International Copyright Laws on the Market for Books, 1790-1920
Khan, B. Zorina - 2021
Does the lack of international copyrights benefit or harm developing countries? I examine the effects of U.S. copyright piracy during a period when the U.S. was itself a developing country. U.S. statutes since 1790 protected the copyrights of American citizens, but until 1891 deemed the works of...
Persistent link: https://www.econbiz.de/10013218341