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This paper studies the internal organizational design of political institutions in presence of lobbying. We consider a … pattern of the feasible policies. In this context, we investigate the impact of lobbying on the optimal allocation of … of lobbying, the effectiveness of a closed rule as an incentive device towards the committee is noticeably reduced while …
Persistent link: https://www.econbiz.de/10005137098
A firm may induce voters or elected politicians to support a policy it favors by suggesting that it is more likely to invest in a district whose voters or representatives support the policy. In equilibrium, no one vote may be decisive, and the policy may gain strong support though the majority...
Persistent link: https://www.econbiz.de/10004964459
This paper studies the internal organizational design of politicalinstitutions in presence of lobbying. We consider a … of the feasible policies.In this context, we investigate the impact of lobbying on the optimalallocation of political … as the choicebetween two alternative legislative rules: open versus closed rule.We show that, in presence of lobbying …
Persistent link: https://www.econbiz.de/10011257116
A firm may induce voters or elected politicians to support a policy it favors by suggesting that it is more likely to invest in a district whose voters or representatives support the policy. In equilibrium, no one vote may be decisive, and the policy may gain strong support though the majority...
Persistent link: https://www.econbiz.de/10011257421
paradox, the reason being that the process of revealing reform outcomes is an example of sampling without replacement: every … identity (reform winner or loser?) more pessimistic about their chances of benefiting from the reform. Consequently, learning … considerations challenge the conventional wisdom that sequencing should be such that favorable reform outcomes are revealed first …
Persistent link: https://www.econbiz.de/10011255925
Banks provide risky loans to firms which have superior information regarding the quality of their projects. Due to asymmetric information the banks face the risk of adverse selection. Credit Value-at-Risk (CVaR) regulation counters the problem of low quality, i.e. high risk, loans and therefore...
Persistent link: https://www.econbiz.de/10005136889
Multi-unit ascending auctions allow for equilibria in which bidders strategically reduce their demand and split the market at low prices. At the same time, they allow for preemptive bidding by incumbent bidders in a coordinated attempt to exclude entrants from the market. We consider an...
Persistent link: https://www.econbiz.de/10005137025
This discussion paper resulted in a publication in <I>Experimental Economics</I> 2013, 16(1), 52-87.<P> Multi-unit ascending auctions allow for equilibria in which bidders strategically reduce their demand and split the market at low prices. At the same time, they allow for preemptive bidding by incumbent...</p></i>
Persistent link: https://www.econbiz.de/10011256938
Banks provide risky loans to firms which have superior information regarding the quality of their projects. Due to asymmetric information the banks face the risk of adverse selection. Credit Value-at-Risk (CVaR) regulation counters the problem of low quality, i.e. high risk, loans and therefore...
Persistent link: https://www.econbiz.de/10011257219
Power index research has been a very active field in the last decades. Will this continue or are all the important questions solved? We argue that there are still many opportunities to conduct useful research with and on power indices. Positive and normative questions keep calling for...
Persistent link: https://www.econbiz.de/10011272591