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Imhof, Lorens; Kräkel, Matthias - 2013

performing agent must beat the second best to receive the winner prize. We analyze a tournament with two risk averse agents …. Under unlimited liability, the principal strictly benefits from a gap by partially insuring the agents and thereby reducing … labor costs. If the agents are protected by limited liability, the principal sticks to the standard tournament. …

Persistent link: https://www.econbiz.de/10010198511

Indeterminacy of competitive equilibrium with risk of default

Bloise, Gaetano; Reichlin, Pietro; Tirelli, Mario - 2009

Persistent link: https://www.econbiz.de/10003902913

Tournaments with gaps

Imhof, Lorens; Kräkel, Matthias - In: Economics letters 122 (2014) 2, pp. 211-214

Persistent link: https://www.econbiz.de/10010395184

Accidents, liability obligations and monopolized markets for spare parts

Baake, Pio - 2010

We analyze the effects of accidents and liability obligations on the incentives of car manufacturers to monopolize the … results is the observation that high prices for spare parts entail a negative external effect inasmuch as liability …

Persistent link: https://www.econbiz.de/10011498651

Distress risk, product market competition, and corporate bond yield spreads

Lee, Han-Hsing - In: Review of quantitative finance and accounting 55 (2020) 3, pp. 1093-1135

Persistent link: https://www.econbiz.de/10012304094

Do public banks have a competitive advantage?

Matthey, Astrid (contributor) - 2008

Private banks often blame state guarantees to distort competition by giving public banks the advantage of lower funding costs. In this paper I show that if borrowers perceive the public bank as supporting economic development, private banks may be able to separate firms by self selection, enter...