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Inefficiency and regulation in credence goods markets with altruistic experts
Farukh, Razi; Kerkhof, Anna; Loebbing, Jonas - 2020
We study a credence goods problem - that is, a moral hazard problem with non-contractible outcome - where altruistic experts (the agents) care both about their income and the utility of consumers (the principals). Experts' preferences over income and their consumers' utility are convex, such...
Persistent link: https://www.econbiz.de/10012431181
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Price discovery and gains from trade in asset markets with insider trading
Brünner, Tobias; Levínský, René - 2020
The present study contributes to the ongoing debate on possible costs and benefits of insider trading. We present a novel call auction model with insider information. Our model predicts that more insider information improves informational efficiency of prices, but this comes at the expense of...
Persistent link: https://www.econbiz.de/10012437539
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Why echo chambers are useful
Jann, Ole; Schottmuller, Christoph - 2019
Why do people appear to forgo information by sorting into “echo chambers”? We construct a highly tractable multi-sender, multi-receiver cheap talk game in which players choose with whom to communicate. We show that segregation into small, homogeneous groups can improve everybody’s...
Persistent link: https://www.econbiz.de/10012265620
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ICO analysts
Barth, Andreas; Laturnus, Valerie; Mansouri, Sasan; … - 2021
Freelancing human experts play an important role in Initial Coin Offerings (ICOs). Expert ratings partially reflect the reciprocal network of ICO members and analysts. Ratings predict ICO success, but highly imperfectly so. Favorably rated ICOs tend to fail when more ratings reciprocate prior...
Persistent link: https://www.econbiz.de/10013336270
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Social networks, promotions, and the glass-ceiling effect
Neugart, Michael; Zaharievay, Anna - 2020
network-driven gender inequality but mitigate inequality arising from direct discrimination in internal promotions. …
Persistent link: https://www.econbiz.de/10012422889
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Spatial mobility and wage profiles : the role of general and location specific human capital matching
Morkutė, Gintarė - 2016
While there is a wealth of literature dealing with the spatial nature of knowledge and its transferral, I argue that the underlying mechanisms have not been sufficiently understood. Existing research relating the geography of inflows to firm productivity does not adequately address firm and...
Persistent link: https://www.econbiz.de/10012491902
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Other-regarding preferences and incentives in the societal context
Bental, Benjamin; Kragl, Jenny - 2020
The article is concerned with understanding the impact of social preferences and wealth inequality on aggregate … microeconomic level and how these in turn translate into macroeconomic outcomes. Increasing the workers' sensitivity to inequality … wealth differences raise aggregate profit and output but entail distributional utility losses and increased inequality …
Persistent link: https://www.econbiz.de/10012421506
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Provincial valuations of human capital in urban China, inter-provincial inequality and the implicit value of a Guangdong hukou
Zax, Jeffrey S. - 2016
This paper assesses regional inequality in contemporary urban China by predicting earningss for individual workers in … double, interpersonal inequality would decline by 40-50% and inter-provincial inequality would vanish. In all years …
Persistent link: https://www.econbiz.de/10011867074
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Wage inequality in Germany after the minimum wage introduction
Bossler, Mario; Schank, Thorsten - 2020
While monthly wage inequality in Germany continued to increase strongly until 2010, it recently returned to the level … introduction can account for about half of the recent decrease in wage inequality …
Persistent link: https://www.econbiz.de/10012424962
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Robots, reshoring, and the lot of low-skilled workers
Krenz, Astrid; Prettner, Klaus; Strulik, Holger - 2019
skill premium and increasing inequality. We develop a measure for reshoring activity at the macro-level and, using data from …
Persistent link: https://www.econbiz.de/10012309562