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Agent-Based Computational Modelling AndMacroeconomics

Tesfatsion, Leigh - Iowa State University of Science and Technology <Ames, … - 2005

Agent-based Computational Economics (ACE) is the computational study of economic processesmodeled as dynamic systems of interacting agents. This essay discusses the potentialuse of ACE modeling tools for the study of macroeconomic systems. Points are illustratedusing an ACE model of a two-sector...

Persistent link: https://www.econbiz.de/10009360883

Allocating cost reducing investmentsover competing divisions

Tesoriere, Antonio - Center for Operations Research and Econometrics … - 2007

This paper examines a three-stage model of divisionalization where, first, two parentfirms create independent units … toward divisionalization severely, relative to other existingmodels. Namely, the scope for divisionalization in equilibrium … addition,to no divisionalization outcome is sustainable in equilibrium only if it is sociallyoptimal.... …

Persistent link: https://www.econbiz.de/10005868825

The Economic Consequences of Increased Disclosure

Leuz, Christian; Verrecchia, Robert E. - 2000

Economic theory suggests that a commitment by a firm to increased levels of disclosure should lower the information asymmetry component of the firms cost of capital. But whi le the theory is compelling, so far empirical results relating increased levels of disclosure to measurable economic...

Persistent link: https://www.econbiz.de/10005840361

Ranking of information systems in agency models: an integral condition

Demougin, Dominique; Fluet, Claude - 2000

We provide a condition for ranking of information systems in agencyproblems. The condition has a straightforward economic interpretation in terms of the sensitivity of a cumulative distribution with respect to the agents effort. The criterion is shown to be equivalent to the mean preserving...

Persistent link: https://www.econbiz.de/10005841061

Monitoring versus incentives

Demougin, Dominique; Fluet, Claude - 1997

This paper analyzes the trade-o! between monitoring and incentives in a principal-agent relationship with moral hazard. We derive general results on the optimalmonitoring - incentives mix for the case where both parties are risk-neutral and the agentfaces a limited liability constraint. We show...

Persistent link: https://www.econbiz.de/10005841062

Moral Hazard and Bargaining Power

Demougin, Dominique; Helm, Carsten - 2003

We introduce bargaining power in a moral hazard framework whereparties are risk-neutral and the agent is ¯nancially constrained. Weshow that the same contract emerges if the concept of bargaining poweris analyzed in either of the following three frameworks; a standard P-Aframework by varying...

Persistent link: https://www.econbiz.de/10005844235

Preponderance of Evidence

Demougin, Dominique; Fluet, Claude - 2002

This paper analyzes the incentive properties of the standard and burden of proof for a finding of negligence, when evidence about injurers' behavior is imperfect and rests with the parties. We show that the `preponderance of evidence' standard used in common law, together with ordinary exclusion...

Persistent link: https://www.econbiz.de/10005844236

Group vs. Individual Performance Pay When Workers Are Envious

Demougin, Dominique; Fluet, Claude - 2003

We consider the effects on reward systems of workers concern withrelative pay by comparing the wage costs of providing incentives through groupversus individual bonus schemes. When workers have a propensity for envy, eitherscheme may be the least cost one depending on the workers outside...

Persistent link: https://www.econbiz.de/10005844237

Inequity Aversion in Tournaments

Demougin, Dominique; Fluet, Claude - 2003

We consider the cost of providing incentives through tournaments when workers are inequity averse and performance evaluation is costly.

Persistent link: https://www.econbiz.de/10005844239

Search and active learning with correlated information:Empirical evidence from Mid-Atlantic clam fishermen

Marcoul, Philippe; Weninger, Quinn R. - Iowa State University of Science and Technology <Ames, … - 2007

This paper examines search with active learning and correlated information. We firstdevelop a simple model to show how correlation affects the decision to acquire information.A unique data set on fishing site choice by mid-Atlantic clam fishermen is used to test themodel predictions. Results...

Persistent link: https://www.econbiz.de/10009360920

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