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Collateralization of business loans : testing the prediction of theories
Meles, Antonio; Porzio, Claudio; Sampagnaro, Gabriele; … - In: Research in international business and finance 42 (2017), pp. 922-938
Persistent link: https://www.econbiz.de/10011757291
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Information contents of collateral under heterogeneous borrower qualities on the bank loans market in China
Zhichao Yin; Qiu, Mei; Gan, Li - In: China economic review : an international journal 57 (2019), pp. 1-12
Persistent link: https://www.econbiz.de/10012317724
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A comparison of optimal tax policies when compensation or responsibility matter
Jacquet, Laurence; van de Gaer, Dirk - 2010
equality of opportunity criteria push the second-best policy away from an Earned Income Tax Credit and in the direction of a …
Persistent link: https://www.econbiz.de/10010277033
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A polynomial optimization approach to principal-agent problems
Renner, Philipp; Schmedders, Karl - 2012
This paper presents a new method for the analysis of moral hazard principal-agent problems. The new approach avoids the stringent assumptions on the distribution of outcomes made by the classical first-order approach and instead only requires the agent's expected utility to be a rational...
Persistent link: https://www.econbiz.de/10009684279
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Separating Moral Hazard from Adverse Selection and Learning in Automobile Insurance : Longitudinal Evidence from France
Dionne, Georges; Michaud, Pierre-Carl; Dahchour, Maki - 2008
The identification of information problems in different markets is a challenging issue in the economic literature. This paper performs tests of residual asymmetric information in the French automobile insurance market for the 1995-1997 period. This market is characterized by the presence of a...
Persistent link: https://www.econbiz.de/10014070073
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Repeated Moral Hazard with Effort Persistence
Jarque, Arantxa - 2012
I study a problem of repeated moral hazard in which the effect of effort is persistent over time: each period's outcome distribution is a function of a geometrically distributed lag of past efforts. I show that when the utility of the agent is linear in effort, a simple rearrangement of terms in...
Persistent link: https://www.econbiz.de/10013096689
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Screening experts' distributional preferences
Erharter, Dominik - 2013
We study optimal direct mechanisms for a credence goods expert who can be altruistic or spiteful. The expert has private information about her distributional preferences and possibly also about her customer's needs. We introduce a method that allows the customer to offer separate contracts to...
Persistent link: https://www.econbiz.de/10010193284
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Collateral booms and information depletion
Asriyan, Vladimir; Laeven, Luc; Martin, Alberto - 2019
important dynamic implications. During credit booms driven by high collateral values (e.g. real estate booms), the economy …We develop a new theory of information production during credit booms. In our model, entrepreneurs need credit to … projects. In equilibrium, the collateralization-screening mix depends on the value of aggregate collateral. High collateral …
Persistent link: https://www.econbiz.de/10011997468
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Collateral Booms and Information Depletion
Asriyan, Vladimir - 2019
important dynamic implications. During credit booms driven by high collateral values (e.g. real estate booms), the economy …We develop a new theory of information production during credit booms. In our model, entrepreneurs need credit to … projects. In equilibrium, the collateralization-screening mix depends on the value of aggregate collateral. High collateral …
Persistent link: https://www.econbiz.de/10012897328
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Collateral Booms and Information Depletion
Asriyan, Vladimir - 2019
important dynamic implications. During credit booms driven by high collateral values (e.g. real estate booms), the economy …We develop a new theory of information production during credit booms. In our model, entrepreneurs need credit to … projects. In equilibrium, the collateralization-screening mix depends on the value of aggregate collateral. High collateral …
Persistent link: https://www.econbiz.de/10012872185