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Insuring your donation : an experiment
Buijze, Renate; Engel, Christoph; Hemels, Sigrid - 2015
that the donor may be sure to get a tax benefit. We interpret this function as insurance and test the option to insure … donations in the lab. Our participants indeed have a positive willingness to pay for insurance against either risk. Yet the … insurance option is only critical for their willingness to donate to a charity if the uncertainty affects the proper use of …
Persistent link: https://www.econbiz.de/10011349366
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Insuring your donation: An experiment
Buijze, Renate; Engel, Christoph; Hemels, Sigrid - 2015
that the donor may be sure to get a tax benefit. We interpret this function as insurance and test the option to insure … donations in the lab. Our participants indeed have a positive willingness to pay for insurance against either risk. Yet the … insurance option is only critical for their willingness to donate to a charity if the uncertainty affects the proper use of …
Persistent link: https://www.econbiz.de/10011419381
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Public-good provision, mechanism design and voting
Bierbrauer, Felix; Hellwig, Martin - 2015
We study the relation between mechanism design and voting in public-good provision. If incentive mechanisms must satisfy conditions of coalition-proofness and robustness, as well as individual incentive compatibility, the participants' contributions to public-good provision can only depend on...
Persistent link: https://www.econbiz.de/10011348184
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Strategic disclosure of demand information by duopolists: Theory and experiment
Jansen, Jos; Pollak, Andreas - 2015
We study the strategic disclosure of demand information and product-market strategies of duopolists. In a setting where both firms receive information with some probability, we show that firms selectively disclose information in equilibrium in order to influence their competitor´s...
Persistent link: https://www.econbiz.de/10011348185
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The genericity of the McAfee-Reny condition for full surplus extraction in models with a continuum of types
Gizatulina, Alia; Hellwig, Martin - 2015
McAfee and Reny (1992) have given a necessary and sufficient condition for full surplus extraction in models with a continuum of types. We interpret their condition as significantly stronger version of the requirement of injectiveness of the function mapping abstract types into beliefs and prove...
Persistent link: https://www.econbiz.de/10011348187
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Public-good provision in large economies: Robust incentive compatibility, immunity to robustly blocking coalitions, and voting
Bierbrauer, Felix; Hellwig, Martin - 2015
In a large economy, a first-best provison rule for a public good is robustly implementable with budget balance because no one individual alone can affect the aggregate outcome. First-best outcomes can, however, be blocked by coalitions of agents acting in concert. With a requirement of immunity...
Persistent link: https://www.econbiz.de/10011348188
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First-order and second-order ambiguity aversion
Lang, Matthias - 2015
finance, insurance and contracting demonstrate the economic relevance of this dichotomy. …
Persistent link: https://www.econbiz.de/10011419378
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Modeling a satisficing judge
Engel, Christoph; Güth, Werner - 2015
Judges and juries frequently must decide, knowing that they do not know everything that would be relevant for deciding the case. The law uses two related institutions for enabling courts to nonetheless decide the case: the standard of proof, and the burden of proof. In this paper, we contrast a...
Persistent link: https://www.econbiz.de/10011419382
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Wondering how others interpret it: Social value of public information
Gizatulina, Alia - 2013
This paper studies the social value of public information in environments without common knowledge of the data-generating process. We show that the stronger the coordination motive behind agents' behaviour is, the more they use private or public signals in the way that they suspect others are...
Persistent link: https://www.econbiz.de/10010323848
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Communicating Subjective Evaluations
Lang, Matthias - 2013
Should principals explain and justify their evaluations? In this paper the principal's evaluation is private information, but she can provide some justifications by sending a costly message. Indeed, it is optimal for the principal to explain her evaluation to the agent if and only if the...
Persistent link: https://www.econbiz.de/10010323871