Narrow search
Showing 1 - 10 of 17,419
Cover Image
Uncertainty and the Politics of Employment Protection
Vindigni, Andrea - 2021
This paper investigates the role that idiosyncratic uncertainty plays in shaping social preferences over the degree of labor market flexibility, in a general equilibrium model of dynamic labor demand where the productivity of firms evolves over time as a Geometric Brownian motion. A key result...
Persistent link: https://www.econbiz.de/10013325149
Cover Image
Counter-Cyclical Enforcement of Corporate Law
Aviram, Amitai - 2007
Corporate and securities laws are seen to mitigate corporate fraud by 'manipulating the incentives of agents': presenting corporate agents with a probability of being caught and punished if they commit fraud. This article suggests that the same laws also affect corporate fraud in a significant...
Persistent link: https://www.econbiz.de/10014052348
Cover Image
Buying Voters with Uncertain Instrumental Preferences
Louis-Sidois, Charles - 2020
cheapest combination of bribes that guarantees the proposal's passing in different voting environments. We find that for both … expensive. In small committees, sequential voting increases cost while the opposite is true for large committees. On the other … hand, additional members and transparent voting rules lower the cost …
Persistent link: https://www.econbiz.de/10012833674
Cover Image
Risk taking and information aggregation in groups
Bougheas, Spiros P.; Nieboer, Jeroen; Sefton, Martin - 2015
We report a controlled laboratory experiment examining risk-taking and information aggregation in groups facing a common risk. The experiment allows us to examine how subjects respond to new information, in the form of both privately observed signals and signals reported from others. We find...
Persistent link: https://www.econbiz.de/10010515798
Cover Image
Evaluating intergenerational risks : probabillity adjusted rank-discounted utilitarianism
Asheim, Geir B.; Zuber, Stéphane - 2015 - This version February 20, 2015
situations with positive probability of human extinction, and is linked to decision theory by yielding rank-dependent expected …
Persistent link: https://www.econbiz.de/10010530542
Cover Image
Risk taking and information aggregation in groups
Bougheas, Spiros P.; Nieboer, Jeroen; Sefton, Martin - 2014
We report an experiment examining risk taking and information aggregation in groups. Group members come to the table with an individual preference for a choice under risk, based on privately received information, and can share this information with fellow group members. They then make a decision...
Persistent link: https://www.econbiz.de/10010371298
Cover Image
Optimal Income Taxation and Public Goods Provision in a Large Economy with Aggregate Uncertainty
Bierbrauer, Felix J. - 2009
We study a large economy model in which individuals have private information about their productive abilities and their preferences. Moreover, there is aggregate uncertainty so that the social benefits from taxation and public goods provision are a priori unknown. The analysis is based on a...
Persistent link: https://www.econbiz.de/10013158141
Cover Image
Multi-Period Risk Sharing Under Financial Fairness
Bao, Hailong - 2016
We work with a multi-period system where a finite number of agents need to share multiple monetary risks. We look for the solutions that are both Pareto efficient utility-wise and financially fair value-wise. A buffer enables the inter-temporal capital transfer. Expected utility is used to...
Persistent link: https://www.econbiz.de/10013002996
Cover Image
Efficiency, Equity, and Social Rationality under Uncertainty
Miyagishima, Kaname - 2020
In a simple model where agents' monetary payoffs are uncertain, this paper studies the aggregation of subjective expected utility functions which are interpersonally noncomparable. A maximin social welfare criterion is derived from axioms of efficiency, equity, and social rationality, combained...
Persistent link: https://www.econbiz.de/10012855058
Cover Image
The impartial observer under uncertainty
Berens, Stefan; Chochua, Lasha - 2017
This paper extends Harsanyi's Impartial Observer Theorem by introducing Knightian Uncertainty in the form of individual belief systems. It features an axiomatic framework of societal decision-making in the presence of individual uncertainty. The model allows the analysis of scenarios where...
Persistent link: https://www.econbiz.de/10011701427