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On 23 July 2014, the U.S. Securities and Exchange Commission (SEC) passed the "Money Market Reform: Amendments to Form PF ," designed to prevent investor runs on money market mutual funds such as those experienced in institutional prime funds following the bankruptcy of Lehman Brothers. The...
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reduction of effort provision from favorite teams. As the number of games per team changes between different seasons, we can … also investigate the effect of a changing spread between winner and loser prize. In line with theory, teams reduce effort … if the spread declines. Interestingly, effort is also sensitive to the total number of teams in the league even if the …
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A key input to inventive activity is human capital. Hence it is important to understand the monetary incentives of inventors. We estimate the effect of patented inventions on individual earnings by linking data on U.S. patents and their inventors to Finnish employer-employee data. Returns are...
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term. We propose a novel pension system that solves the effort problem while preserving willingness to implement long …
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-term contracts. First, I analyze the existence of a contract related wage gap and the effort response of temporary employees in terms …
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’sinvestment decision (like political risk) – substantiallydecreases investment. Also effort to obtain the capital usedfor investment …
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Collective decision procedures should balance the incentives they provide toacquire information and their capacity to aggregate private information. In a decisionproblem in which a project can be accepted or rejected once information about its qualityhas been acquired or not, we compare the...
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