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We study the determinants of vertical integration in a new dataset of over 750,000 firms from 93 countries. Existing evidence suggests the presence of large cross-country differences in the organization of firms, which may be related to differences in financial development, contracting costs or...
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We build a model of online behavioral manipulation driven by AI advances. A platform dynamically offers one of n … behavioral manipulation. We establish that AI benefits consumers when glossiness is short-lived. In contrast, when glossiness is … long-lived, users suffer because of behavioral manipulation. Finally, as the number of products increases, the platform can …
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This paper offers a theory of development which links the degree of market incompleteness to capital accumulation and …
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We analyse an economy where production is subject to moral hazard. The degree of the incentive (agency) costs introduced by the presence of moral hazard naturally depends on the information structure in the economy; it is cheaper to induce correct incentives in a society which possesses better...
Persistent link: https://www.econbiz.de/10005136536
We analyze an economy where production is subject to moral hazard. The degree of the incentive (agency) costs introduced by the presence of moral hazard naturally depends on the information structure in the economy; it is cheaper to induce correct incentives in a society which posesses better ex...
Persistent link: https://www.econbiz.de/10005648811
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