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We introduce intention-based social preferences into mechanism design. We explore information structures that dier with respect to what is commonly known about the weight that agents attach to reciprocal kindness. When the designer has no information on reciprocity types, implementability of an...
Persistent link: https://www.econbiz.de/10011522109
We introduce intention-based social preferences into mechanism design. We explore information structures that dier with respect to what is commonly known about the weight that agents attach to reciprocal kindness. When the designer has no information on reciprocity types, implementability of an...
Persistent link: https://www.econbiz.de/10011444226
stochastic contracts are feasible. …
Persistent link: https://www.econbiz.de/10010323871
, no payments to third parties are necessary if stochastic contracts are feasible. …
Persistent link: https://www.econbiz.de/10009569527
Under common law, the standard remedy for breach of contract is expectation damages. Under continental law, the standard is specific performance. The common law solution is ex post efficient. But is it also ex ante efficient? We use experimental methods to test whether knowing that...
Persistent link: https://www.econbiz.de/10011715408
The Coase theorem posits: If [1] property rights are perfect, [2] contracts are enforceable, [3] preferences are common …
Persistent link: https://www.econbiz.de/10011419376
From a normative perspective the order in which evidence is presented should not bias legal judgment. Yet psychological research on how individuals process conflicting evidence sug-gests that order could matter. The evidence shows that decision-makers dissolve ambiguity by forging coherence....
Persistent link: https://www.econbiz.de/10011789574
The novel part of this paper is a model of the principle of proportionality, as the cornerstone of the doctrine of fundamental rights. German law, and with some modifications also the law of the European Community and the European Convention on Human Rights, do not categorically outlaw...
Persistent link: https://www.econbiz.de/10010281842
The novel part of this paper is a model of the principle of proportionality, as the cornerstone of the doctrine of fundamental rights. German law, and with some modifications also the law of the European Community and the European Convention on Human Rights, do not categorically outlaw...
Persistent link: https://www.econbiz.de/10008822408
The Coase theorem posits: If [1] property rights are perfect, [2] contracts are enforceable, [3] preferences are common …
Persistent link: https://www.econbiz.de/10011397620