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Optimal random taxation and redistribution
Gauthier, Stéphane; Laroque, Guy - 2022
We assess the usefulness of stochastic redistribution among a continuum of risk-averse agents with quasilinear utilities in labor. Agents differ according to their consumption tastes, which remain private information. We identify circumstances where stochastic redistribution is socially...
Persistent link: https://www.econbiz.de/10013464907
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Foreign entry and bank competition
Sengupta, Rajdeep (contributor) - 2006
Persistent link: https://www.econbiz.de/10003740112
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Optimal afforestation contracts with asymmetric information on private environmental benefits
Anthon, Signe; Thorsen, Bo Jellesmark - 2004
We investigate the problem of subsidising afforestation when private information exists with respect to the level of private utility derived from the project. We develop a simple model that allows for an intelligent design of contracts when information is asymmetric. The model involves the...
Persistent link: https://www.econbiz.de/10011601121
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Group decision-making in the shadow of disagreement
Eliaz, Kfir; Ray, Debraj; Razin, Ronny - 2004
A model of group decision-making is studied, in which one of two alternatives must be chosen. While group members differ in their valuations of the alternatives, everybody prefers some alternative to disagreement. Our model is distinguished by three features: private information regarding...
Persistent link: https://www.econbiz.de/10011603226
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Instant efficient pollution abatement under non-linear taxation and asymmetric information : the differential tax revisited
Mensink, Paul - 2004
This paper analyzes incentives for polluting firms to exchange abatement cost information under the non-linear pollution tax scheme ( differential tax') introduced by Kim and Chang [J. Regul. Econom. 5, 1993, 193-197]. It shows that polluting firms have - under mild conditions - an incentive to...
Persistent link: https://www.econbiz.de/10011606870
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Order flow and the formation of dealer bids : an analysis of information and strategic behavior in the government of Canada securities auctions
Hortaçsu, Ali; Sareen, Samita - 2004
Using data on Government of Canada securities auctions, this paper shows that in countries where direct access to primary issuance is restricted to government securities dealers, Order-flow" information is a key source of private information for these security dealers. Order-flow information is...
Persistent link: https://www.econbiz.de/10011607155
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Misallocation of talent in competitive labor markets
Ferreira, Daniel Bernardo Soares; Nikolowa, Radoslawa - 2015
We develop a model in which competition in the labor market may produce worker-firm matches that are inferior to those … obtained in the absence of competition. This result contrasts with the conventional wisdom that competition among employers … show that constraining labor market competition may be socially desirable precisely because it leads to better talent …
Persistent link: https://www.econbiz.de/10010497514
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Discrimination in promotion
Prummer, Anja - 2020
competition. If value is redistributed, the reduction in information rent outweighs the loss in competitiveness, making …
Persistent link: https://www.econbiz.de/10012243271
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Weddings with uncertain prospects : mergers under asymmetric information
Borek, Thomas (contributor); Bühler, Stefan (contributor);  … - 2004 - [Elektronische Ressource]
We provide a framework for analyzing bilateral mergers when there is two-sided asymmetric information about firms’ types. We show that there is always a "no-merger" equilibrium where firms do not consent to a merger, irrespective of their type. There may also be a "cut-off" equilibrium if the...
Persistent link: https://www.econbiz.de/10001729427
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Mergers under asymmetric information - is there a lemons problem?
Borek, Thomas (contributor); Bühler, Stefan (contributor);  … - 2004 - [Elektronische Ressource]
We analyze a Bayesian merger game under two-sided asymmetric information about firm types. We show that the standard prediction of the lemons market model–if any, only low-type firms are traded–is likely to be misleading: Merger returns, i.e. the difference between pre- and post-merger...
Persistent link: https://www.econbiz.de/10002202342