В статье рассмотрены основные проблемы асимметрии информации в отношениях принципала и агента с целью определения оптимального и эффективного соотношения...

Both the Information Theoretic Economics and Austrian Economics investigate the impact on market activity of problems of information and knowledge. The conceptions of information and knowledge they employ, however, as well as their respective views on and treatment of economic agency, are quite...

Electronic commerce and flexible manufacturing allow personalization of initially standardized products at low cost. Will customers provide the information necessary for personalization? Assuming that a consumer can control the amount of information revealed, we analyze how his decision...

Im klassischen Modell von Diamond und Dybvig (1983) werden Bank-runs durch sich selbst erfüllende pessimistische Erwartungen der Anleger provoziert. Sie sind damit ein Sonnenflecken-Phänomen. Die spekulativen Runs können u.a. durch eine Einlagenversicherung vermieden werden. Allerdings...

In this paper a modified version of Bernanke and Blinder�s (1988) model of the bank lending channel of monetary policy under asymmetric information is presented. If, aside from reserve requirements, banks have to meet capital adequacy requirements as well, then the results suggested by...

Contrary to what is consistently assumed in the literature, the return function cannot be hump-shaped in the Stiglitz-Weiss (1981) model. This has important consequences for the possible occurrence of credit rationing and redlining. With a single class of borrowers, banks offer credit in two...

Certification schemes for forest products are understood by many as a way to promote sustainable resource use when it is impossible to rely on direct enforcement of process standards. Based on the concept of ‘Self-Enforcing Contracts’, this study develops a market model that simulates the...

Dryland salinity is one of the most pressing land management problems in Western Australia. A number of projects are in progress to provide a more comprehensive picture of the location and extent of potentially saline areas in the landscape. Associated with some of these projects, a large number...

George J. Stigler in his Nobel price lecture in 1982 suggested to apply the ideas of economics of information on the market of new ideas of economic science. On the border between the economics of information and some other social sciences, co-word method and citation analysis are proposed for...