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Delegating budgets when agents care about autonomy
Kuhn, Michael (contributor) - 2004 - [Elektronische Ressource]
Persistent link: https://www.econbiz.de/10002050615
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Frictional Asset Reallocation under Adverse Selection
Madison, Florian - 2018
The aim of this paper is to study asset reallocation in financial markets subject to search, bargaining, and information frictions, and to analyze the impact of monetary policy on equilibrium outcomes. The main results show that private information regarding the quality of an asset impairs its...
Persistent link: https://www.econbiz.de/10012932737
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Asymmetric information allocation to avoid coordination failure
Moriya, Fumitoshi; Yamashita, Takuro - 2018
Persistent link: https://www.econbiz.de/10013489815
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Delegating Resource Allocation : Multidimensional Information vs. Decisions
Galperti, Simone - 2015
This paper studies the problem of delegating the allocation of resources across multiple categories to an agent who has … cap on the allocation to each category, a generalization of Holmström's (1977) ‘interval controls' to multidimensional … allocation. Such limits are more likely to be optimal when the conflict is weaker and the agent's information is also on …
Persistent link: https://www.econbiz.de/10013028127
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Capital reallocation and adverse selection
Li, Shaojin; Whited, Toni Marion - 2014
We investigate how adverse selection in the used capital market generates procyclical sales of used capital -- capital reallocation. In our model, adverse selection produces a resale discount for used capital. In equilibrium, this endogenous partial irreversibility is more severe in recessions...
Persistent link: https://www.econbiz.de/10010483664
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Partial Ownership and Strategic Alliances with Reallocation of Corporate Resources
Osano, Hiroshi - 2012
This paper considers the role of equity transfer to strategic alliance partners in mitigating the moral hazard problem that occurs if a participating firm faces some possibility of reallocating a part of the resources devoted to the joint project of the strategic alliance or retreating from the...
Persistent link: https://www.econbiz.de/10013117049
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Dynamic Capital Allocation and Managerial Compensation
Fu, Shiming - 2017
This paper proposes a dynamic theory of capital budgeting and compensation when investment information is decentralized and division manager can inefficiently deploy capital. The incentive cost and firm policies vary monotonically with stored liquidity. After bad performances, liquidity is low,...
Persistent link: https://www.econbiz.de/10012968972
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Misallocation of talent in competitive labor markets
Ferreira, Daniel Bernardo Soares; Nikolowa, Radoslawa - 2015
allocation. The model provides a cautionary counterpoint to one of the most popular arguments against the regulation of pay, i …
Persistent link: https://www.econbiz.de/10010497514
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Adverse Selection, Slow Moving Capital and Misallocation
Fuchs, William - 2015
We embed adverse selection into a dynamic, general equilibrium model with heterogeneous capital and study its implications for aggregate dynamics. The friction leads to delays in firms' divestment decisions and thus slow recoveries from shocks, even when these shocks do not affect the economy's...
Persistent link: https://www.econbiz.de/10013034936
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Versicherungsökonomische Besonderheiten des Invaliditätsrisikos
Albrecht, Martin - 2001
Persistent link: https://www.econbiz.de/10001597069