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How does Risk Selection Respond to Risk Adjustment? Evidence from the Medicare Advantage Program
Brown, Jason - 2011
firms' incentives to selectively enroll low-cost individuals, governments frequently "risk-adjust" payments to firms based … on enrollees' characteristics. We model how risk adjustment affects selection and differential payments---the government … that firms reduce selection along dimensions included in the risk-adjustment formula, while increasing selection along …
Persistent link: https://www.econbiz.de/10012461681
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Sustainability in a Risky World
Campbell, John Y.; Martin, Ian - National Bureau of Economic Research - 2021
We view sustainability as a requirement that welfare should not be expected to decline over time. We impose this requirement as a prior constraint on the consumption-savings-investment problem, and study its implications for saving, risky investment, and the social discount rate. The constraint...
Persistent link: https://www.econbiz.de/10012585383
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Do Rare Events Explain CDX Tranche Spreads?
Seo, Sang Byung - 2016
. As such, these products clearly reflect the market's assessment of rare-event risk. We find that the model can …
Persistent link: https://www.econbiz.de/10012455957
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From Scarcity to Abundance : Government and Private Initiatives to Manage the Allocation of N95 Masks in the U.S. During the COVID-19 Pandemic
Joskow, Paul L. - National Bureau of Economic Research - 2022
This paper examines the structure, behavior and performance of the N95 respirator market in the U.S. before and during the COVID-19 pandemic (2020-early 2022). It focuses on the behavior and performance of government and private sector organizations in the allocation of scarce supplies of N95...
Persistent link: https://www.econbiz.de/10013172175
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When and How to Use Public-Private Partnerships in Infrastructure : Lessons From the International Experience
Engel, Eduardo - 2020
infrastructure. The governance can be improved by the use of contracts with appropriate risk allocation and by avoiding opportunistic …
Persistent link: https://www.econbiz.de/10012479290
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Economic Analysis and Infrastructure Investment
Glaeser, Edward L. - 2020
This paper summarizes economic research on investment in public infrastructure and introduces the findings of several new studies on this topic. It begins with a review of several potential justifications for the public sector's involvement in building, financing, and operating infrastructure,...
Persistent link: https://www.econbiz.de/10012482434
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Contractual Rigidity and Political Contestability : Revisiting Public Contract Renegotiations
Beuve, Jean; Moszoro, Marian W.; Spiller, Pablo T. - National Bureau of Economic Research - 2021
We present a model of public procurement in which both contractual flexibility and political tolerance for contractual deviations determine renegotiations. In the model, contractual flexibility allows for adaptation without formal renegotiation while political tolerance for deviations decreases...
Persistent link: https://www.econbiz.de/10012482706
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Soft Budgets and Renegotiations in Public-Private Partnerships
Engel, Eduardo - 2009
Public-private partnerships (PPPs) are increasingly used to provide infrastructure services. Even though PPPs have the potential to increase efficiency and improve resource allocation, contract renegotiations have been pervasive
Persistent link: https://www.econbiz.de/10012463350
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Bringing Science to Market : Commercializing from NIH SBIR Awards
Link, Albert N. - 2008
We offer empirical information on the correlates of commercialization activity for research projects funded through the U.S. National Institutes of Health's (NIH's) Small Business Innovation Research (SBIR) award program. Based on this analysis we suggest possible recommendations for improving...
Persistent link: https://www.econbiz.de/10012464589
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The Basic Public Finance of Public-Private Partnerships
Engel, Eduardo - 2007
efficiency grounds, the contract that optimally balances demand risk, user-fee distortions and the opportunity cost of public … with realistic informational requirements. Finally, the allocation of risk under the optimal contract suggests that PPPs …
Persistent link: https://www.econbiz.de/10012465367