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When inefficiency begets efficiency
Gersbach, Hans; Haller, Hans - 2003
Collective consumption decisions taken by the members of a household may prove inefficient. The impact of such inefficient household decisions on market performance is investigated. At one extreme, market efficiency can occur even when household decisions are inefficient, namely when household...
Persistent link: https://www.econbiz.de/10010292768
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Auctions under Payoff Uncertainty: The Case with Heterogeneous Bidder-Aversion to Downside Risk
Hu, Audrey; Zou, Liang - 2008
This paper characterizes the optimal first-price auction (FPA) and second-price auction (SPA) for selling rights, contracts, or licenses that involve ensuing payoff uncertainty for the winning bidder. The distribution of the random payoff is common knowledge, except that bidders have private...
Persistent link: https://www.econbiz.de/10010325804
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Information Theory and the Role of Intermediaries in Corporate Governance
Schmidt, Reinhard H.; Tyrell, Marcel - 2004
We investigate the connection between corporate governance system configurations and the role of intermediaries in the respective systems from a informational perspective. Building on the economics of information we show that it is meaningful to distinguish between internalisation and...
Persistent link: https://www.econbiz.de/10010263309
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Organisation von Innovation: Strukturen, Prozesse, Interventionen. 2., verbesserte und erweiterte Auflage
Heideloff, Frank (contributor); Radel, Tobias (contributor) - 1998
Persistent link: https://www.econbiz.de/10011318665
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Innovation Activities Abroad and the Effects of Liability of Foreignness: Where it Hurts
Sofka, Wolfgang - 2006
The innovation activities of foreign subsidiaries have been identified as an important source of competitive advantage for multinational corporations. The success of these engagements depends heavily on tapping host country pools of localized expertise. To achieve this foreign subsidiaries have...
Persistent link: https://www.econbiz.de/10010297537
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Public Bank Guarantees and Allocative Efficiency
Gropp, Reint E.; Guettler, Andre; Saadi, Vahid - 2015
[Staatliche Bankgarantien und Allokationseffizienz] Im Zuge der jüngsten Finanzkrise haben viele Regierungen ihre … Bürgschaften auf die Kreditvergabe identifizieren zu können („Allokationseffizienz“). Unter Verwendung zusammengeführter Bank- und … Unternehmensdaten zeigt sich, dass staatliche Garantien diese Allokationseffizienz mindern. Werden Garantien gewährleistet, investieren …
Persistent link: https://www.econbiz.de/10011306638
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Behavioral efficiency I: Definition, methodology and demonstration
Harstad, Ronald M. - 2011
Economic experiments conducted in laboratories employing an induced-values methodology can report on allocative efficiencies observed. This methodology is limited by requiring the experimenter to know subjects' motivations, an impossibility in field experiments. Allocative efficiency implies a...
Persistent link: https://www.econbiz.de/10010332372
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Gender pairing and bargaining: Beware the same sex!
Sutter, Matthias; Bosman, Ronald; Kocher, Martin; van … - 2008
We study the influence of gender and gender pairing on economic decision making in an experimental two-person bargaining game where the other party's gender is known to both actors. We find that (1) gender per se has no significant effect on behavior, whereas (2) gender pairing systematically...
Persistent link: https://www.econbiz.de/10010293381
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The Pivotal Mechanism Revisited: Some Evidence on Group Manipulation
Gantner, Anita; Höchtl, Wolfgang; Sausgruber, Rupert - 2011
This paper studies the vulnerability of the pivotal mechanism with respect to manipulation by groups. In a lab experiment, groups decide on the implementation of various alternatives, some of which imply opposite interests for the two subgroups. We investigate the occurrence of tacit and...
Persistent link: https://www.econbiz.de/10010294803
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The Provision of Local Public Services in a Risky Environment: An Application to Crime
Traub, Stefan - 2006
We state efficiency conditions for the provision of congestable local public goods that diminish individual-specific proprietary risks. The optimum level of such a public service is determined by equating the sum of the reductions of the expected property losses due to a better service level...
Persistent link: https://www.econbiz.de/10010296256