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Insurance and Information: Firms as a Commitment Device
Bovenberg, A.L.; Teulings, Coen N. - 2001
and the firm can base its incentive payments on good information. Competition, however, may allow themarket and explicit …
Persistent link: https://www.econbiz.de/10010325071
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Optimal Incentive Contracts when Workers envy their Boss
Dur, Robert; Glazer, Amihai - 2004
A worker's utility may increase with his income, but envy can make his utility decline with his employer's income. This article uses a principal-agent model to study profit-maximizing contracts when a worker envies his employer. Envy tightens the worker's participation constraint and so calls...
Persistent link: https://www.econbiz.de/10010325487
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A Dynamic Analysis of the Demand for Health Insurance and Health Care
Bolhaar, Jonneke; Lindeboom, Maarten; van der Klaauw, Bas - 2008
We investigate the presence of moral hazard and advantageous or adverse selection in a market for supplementary health insurance. For this we specify and estimate dynamic models for health insurance decisions and health care utilization. Estimates of the health care utilization models indicate...
Persistent link: https://www.econbiz.de/10010325874
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Entrepreneurial Moral Hazard in Income Insurance
Ejrnaes, Mette; Hochguertel, Stefan - 2008
We study entrepreneurs’ behavioral responses of effort (moral hazard) to avoid business failure.This is done in the context of an unemployment insurance scheme for self-employed, wherewe estimate how much of the transition probability to unemployment can be causally attributedto being insured....
Persistent link: https://www.econbiz.de/10010325911
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Better Safe than Sorry? Ex Ante and Ex Post Moral Hazard in Dynamic Insurance Data
Abbring, Jaap; Chiappori, Pierre-André; Zavadil, Tibor - 2008
This paper empirically analyzes moral hazard in car insurance using a dynamic theory of an insuree's dynamic risk (ex ante moral hazard) and claim (ex post moral hazard) choices and Dutch longitudinal micro data. We use the theory to characterize the heterogeneous dynamic changes in incentives...
Persistent link: https://www.econbiz.de/10010325921
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Firm-Specific Information and Explicit Collusion in Experimental Oligopolies
Gomez-Martin, Francisco; Onderstal, Sander; Sonnemans, Joep - 2015
We experimentally study the effect of information about competitors' actions on cartel stability and firms' incentives … information is available and participants cannot communicate. In contrast, when communication is possible, results reverse …: Markets become less competitive and cartels become more stable when individualized information is available. We also observe …
Persistent link: https://www.econbiz.de/10011288400
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Price Discovery on Foreign Exchange Markets with Differentially Informed Traders
de Jong, Frank; Mahieu, Ronald; Schotman, Peter; van … - 1999
This paper uses Reuters exchange rate data to investigate thecontributions to the price discovery process by individual banks in theforeign exchange market. We propose multivariate time series models aswell as models in tick time to study the dynamic relations between thequotes of individual...
Persistent link: https://www.econbiz.de/10010324605
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Delegation or Voting
Swank, Otto H.; Visser, Bauke - 2002
Collective decision procedures should balance the incentives they provide toacquire information and their capacity to … aggregate private information. In a decisionproblem in which a project can be accepted or rejected once information about its … the other agent's vote.This in turn determines the decision to acquire information. In the debate about a rationalchoice …
Persistent link: https://www.econbiz.de/10010324768
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Financial Intermediation and Entry Deterrence
Jain, Neelam; Jeitschko, Thomas D.; Mirman, Leonard J. - 2001
In this paper, we analyze the interaction between an incumbent firm's financial contract with abank and its product market decisions in the face of the threat of entry, in a dynamic model.The main results of the paper are: there exists a separating equilibrium with no limit pricing; thelow-cost...
Persistent link: https://www.econbiz.de/10010324775
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Do Elections lead to Informed Public Decisions?
Swank, Otto H.; Visser, Bauke - 2003
political process and the production of policy relevant information; on the role played by probing into candidates' past; and on …
Persistent link: https://www.econbiz.de/10010324884