Showing 1 - 10 of 391
a general stationary overlapping generation model. A complete characterization of manipulations by coalitions and …
Persistent link: https://www.econbiz.de/10005419387
reduce their cost shares), the methods used must make such manipulations unprofitable. The paper introduces a family of rules … that are immune to these demand manipulations, the pattern methods. For each of these methods, the associated production … manipulations of the technology. A useful axiomatization of the public Aumann-Shapley rule ensues: it is the unique flow method that …
Persistent link: https://www.econbiz.de/10010901392
Persistent link: https://www.econbiz.de/10008775589
On May 29, 2008 the Wall Street Journal published an article alleging that several global banks were reporting Libor quotes significantly lower than those implied by prevailing credit default swap (CDS) spreads. While acknowledging that the “analysis doesn’t prove that banks are lying or...
Persistent link: https://www.econbiz.de/10011065719
In this paper we analyze the reliability of Euribor after the beginning of the financialcrisis. We purpose three theories about the incentives by banks to manipulatethis benchmark rate to gain illegal profits: trading, portfolio and reputationaltheory. According to us, the main problem that...
Persistent link: https://www.econbiz.de/10011157693
The universally beneficial manipulation conjecture of Campbell and Kelly states that for a social choice rule, if everyone gains as a result of any optimal manipulation, then the rule satisfies universally beneficial manipulation, i.e., everyone gains as a result of any manipulation, optimal or...
Persistent link: https://www.econbiz.de/10011076570
Vor dem Hintergrund dynamischer und komplexer Umweltbedingungen wird im Rahmen der Strategischen Managementforschung der Fokus bei der Suche nach Faktoren erfolgreicher Unternehmensfuehrung zunehmend auf interne Ressourcen und Faehigkeiten gelegt. Vor allem der Pool der Humanressourcen bietet...
Persistent link: https://www.econbiz.de/10005771460
Multi-period multi-product regulatory schemes for electricity distributors are presented, based on cost information from a productivity analysis model and an agency theoretical decision model. The proposed schemes are operational and demonstrate considerable advantages compared to the popular...
Persistent link: https://www.econbiz.de/10005749423
Este trabajo es un estudio emp¡rico que analiza la relaci¢n din mica entre el cambio estrat‚gico y el cambio organizativo a partir de la investigaci¢n comparada de dos casos de estudio longitudinales. El trabajo muestra que la consecuci¢n de resultados econ¢micos superiores se produce...
Persistent link: https://www.econbiz.de/10005612020
Using data from large-scale establishment surveys in Britain and France, we show that incentive pay for non-managers is more widespread in France than in Britain. We explain this finding in terms of the 'beneficial constraint' arising from stronger employment protection in France, which provides...
Persistent link: https://www.econbiz.de/10005037457