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Competitive Markets without Commitment
Netzer, Nick; Scheuer, Florian - 2008
In the presence of a time-inconsistency problem with optimal agency contracts, we show that competitive markets implement allocations that Pareto dominate those achieved by a benevolent planner, they induce strictly more effort, and they sometimes make the commitment problem disappear entirely....
Persistent link: https://www.econbiz.de/10003894094
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Drugs, showrooms and financial products : competition and regulation when sellers provide expert advice
Bardey, David; Gromb, Denis; Martimort, David; Pouyet, … - 2016
Persistent link: https://www.econbiz.de/10011686474
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Incentive compatible core and competitive equilibria in differential information economies
Forges, Françoise; Heifetz, Aviad; Minelli, Enrico - 1999
Persistent link: https://www.econbiz.de/10001428880
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Generosity versus duration trade-off and the optimization ability of the unemployed
Khoury, Laura - 2019
Persistent link: https://www.econbiz.de/10012001840
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A theory of firm decline
Sabatini, Fabio - 2010
This paper carries out an investigation into the socio-economic determinants of couples’ childbearing decisions in Italy. Since having children is in most cases a “couple matter”, the analysis accounts for the characteristics of both the possible parents. Our results do not support...
Persistent link: https://www.econbiz.de/10008732064
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A theory of firm decline
Clementi, Gian Luca; Cooley, Thomas F.; Di Giannatale, Sonia - 2010 - This version: July 20, 2009
We study the problem of an investor that buys an equity stake in an entrepreneurial venture, under the assumption that the former cannot monitor the latter’s operations. The dynamics implied by the optimal incentive scheme is rich and quite different from that induced by other models of...
Persistent link: https://www.econbiz.de/10008732070
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Moral hazard and lack of commitment in dynamic economies
Karajvanov, Alexander K.; Martin, Fernando M. - 2011
-long contract to which only the insurer can commit, implement identical consumption, effort and welfare outcomes. Unlike contracts …
Persistent link: https://www.econbiz.de/10009312805
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Student loans and repayment : theory, evidence and policy
Lochner, Lance; Monge-Naranjo, Alexander - 2014
Persistent link: https://www.econbiz.de/10010423519
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Efficient bailouts?
Bianchi, Javier - 2016
Persistent link: https://www.econbiz.de/10011477274
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Multiple losses, ex-ante moral hazard, and the non-optimality of the standard insurance contract
Breuer, Michael (contributor) - 2003 - [Elektronische Ressource]
contract providing coverage against different losses therefore should generally differ from the standard form under moral … hazard. The paper concentrates on the conditions under which the standard insurance contract holds under moral hazard and … rarely ever optimal to combine two losses in one insurance contract prescribing only a single deductible for both losses if …
Persistent link: https://www.econbiz.de/10001744785