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In a small moment : class size and moral hazard in the Mezzogiorno

Angrist, Joshua D.; Battistin, Erich; Vuri, Daniela - 2015

An instrumental variables (IV) identification strategy that exploits statutory class size caps shows significant achievement gains in smaller classes in Italian primary schools. Gains from small classes are driven mainly by schools in Southern Italy, suggesting a substantial return to class size...

Persistent link: https://www.econbiz.de/10011283017

Termination fees and contract design in public-private partnerships

Buso, Marco; Dosi, Cesare; Moretto, Michele - 2018

We study the effects of granting an exit option that enables the private party to early terminate a PPP project if it turns out to be loss-making. In a continuous time setting with hidden information about stochastic operating profits, we show that a revenue-maximizing government can optimally...

Persistent link: https://www.econbiz.de/10011925624

Do exit options increase the value-for-money of public-private partnership?

Buso, Marco; Dosi, Cesare; Moretto, Michele - 2020

We study the effects of granting an exit option that enables the private party to early terminate a PPP project if it turns out to be financially loss-making. In a continuous-time setting with hidden information about operating profits, we show that an exit option, acting as a risk-sharing...

Persistent link: https://www.econbiz.de/10012195007

Deductible or co-insurance: which is the better insurance contract under adverse selection?

Breuer, Michael (contributor) - 2004 - [Elektronische Ressource]

turns out to be superior if premiums contain a sufficiently high loading. -- Insurance ; Adverse Selection ; Deductible ; Co-Insurance … optimal insurance. It analyzes two basic forms of insurance contracts: A contract with a deductible and a contract imposing a … positive co-insurance rate. Since high risks can always self-reveal themselves as high risks and buy the optimal insurance …

Persistent link: https://www.econbiz.de/10001957148

Dynamic regulation of public franchises with imperfectly correlated demand shocks

Buso, Marco; Dosi, Cesare; Moretto, Michele - 2023

In a continuous-time setting, we study the design of a dynamic contract between a government and a private entity, wherein the latter commits to pay the government in return for the exclusive right to sell a service by operating a public facility. Private revenues are modelled as depending on...

Persistent link: https://www.econbiz.de/10013547855

Sharing of climate risks across world regions

Emmerling, Johannes - 2014

Uncertainty is prevalent in the context of climate change impacts. Moreover, the distribution across the globe is not uniform. We analyze how climate risks could be reduced via an insurance scheme at the global scale across regions and quantify the potential welfare gains from such a scheme....

Persistent link: https://www.econbiz.de/10010404114

Integrated assessment of climate catastrophes with endogenous uncertainty : does the risk of ice sheet collapse justify precautionary mitigation?

Diaz, Delavane B. - 2015

Greenhouse gas policies confront the trade-off between the costs of reducing emissions and the benefits of avoided climate change. The risk of uncertain and potentially irreversible catastrophes is an important issue related to the latter, and one that has not yet been well incorporated into...

Persistent link: https://www.econbiz.de/10011290817

Market allocations under ambiguity : a survey

Billot, Antoine; Mukerji, Sujoy; Tallon, Jean-Marc - 2019

We review some of the (theoretical) economic implications of David Schmeidler's models of decision under uncertainty (Choquet expected utility and maxmin expected utility) in competitive market settings. We start with the portfolio inertia result of Dow and Werlang (1992), show how it does or...

Persistent link: https://www.econbiz.de/10012121980

Organizing insurance supply for new and undiversifiable risks

Alary, David; Bobtcheff, Catherine; Haritchabalet, Carole - 2020

Persistent link: https://www.econbiz.de/10012271121

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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