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Government R&D subsidies as a signal for private investors
Kleer, Robin - 2008 - Preliminary Version
investments. -- subsidies ; innovation ; asymmetric information ; signaling …Government subsidies for R&D are intended to promote projects with high returns to society but too little private … a simple signaling model with different types of R&D projects to capture this phenomenon. In a setup where the subsidy …
Persistent link: https://www.econbiz.de/10009746782
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New and Improved?
Schmidbauer, Eric - Department of Business Economics and Public Policy, … - 2013
underinvestment problem. Innovation signaling provides a rational explanation for consumer attraction to new versions of products …Are new versions of products necessarily better? We analyze product innovation by a firm that engages in research and … development designed to improve an existing product, the outcome of which is uncertain. If the firm adopts the innovation its …
Persistent link: https://www.econbiz.de/10011096397
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Optimal short-time work : screening for jobs at risk
Teichgräber, Julian; Žužek, Simon; Hensel, Jannik - 2022
Short-time work - a wage subsidy conditional on hour reductions - has become an important tool of labor market policy in many European countries. As the scope of these policies expanded, concerns about side effects due to adverse selection increased. We develop a model of job retention policies...
Persistent link: https://www.econbiz.de/10012815443
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Incentives and Tranche Retention in Securitisation : A Screening Model
Fender, Ingo - 2010
This paper examines the power of different contractual mechanisms to influence an originator's choice of costly effort to screen borrowers when the originator plans to securitise its loans. The analysis focuses on three potential mechanisms: the originator holds a "vertical slice," or share of...
Persistent link: https://www.econbiz.de/10013137848
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Private Information and Lender Discretion Across Time and Institutions
Ambrocio, Gene - 2018
We assess the extent to which discretion, unexplained variations in the terms of a loan contract, has varied across time and lending institutions and show that part of this discretion is due to private information that lenders have on their borrowers. We find that discretion is lower for secured...
Persistent link: https://www.econbiz.de/10012909619
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Incentives and tranche retention in securitisation : a screening model
Fender, Ingo; Mitchell, Janet - 2009
This paper examines the power of different contractual mechanisms to influence an originator's choice of costly effort to screen borrowers when the originator plans to securitise its loans. The analysis focuses on three potential mechanisms: the originator holds a "vertical slice", or share of...
Persistent link: https://www.econbiz.de/10011597154
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Incentives and Tranche Retention in Securitisation : A Screening Model
Fender, Ingo - 2013
This paper examines the power of different contractual mechanisms to influence an originator's choice of costly effort to screen borrowers when the originator plans to securitise its loans. The analysis focuses on three potential mechanisms: the originator holds a “vertical slice,” or share...
Persistent link: https://www.econbiz.de/10013095602
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Who should pay for certification?
Stahl, Konrad; Strausz, Roland - 2010
Who does, and who should initiate costly certification by a third party under asymmetric quality information, the buyer or the seller? Our answer ' the seller ' follows from a non-trivial analysis revealing a clear intuition. Buyer-induced certification acts as an inspection device, whence...
Persistent link: https://www.econbiz.de/10003975228
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Frictional asset reallocation under adverse selection
Madison, Florian - 2018 - Revised version
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/10011790391
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Due diligence, research joint ventures, and incentives to innovate
Fabrizi, Simona; Lippert, Steffen - 2011
The decision to cooperate within R&D joint ventures is often based on expert advice such advice typically originates in a due diligence process, which assesses the R&D joint ventures profitability, for example, by appraising the achievability of synergies. We show that if the experts who advise...
Persistent link: https://www.econbiz.de/10009409623