An adverse selection model of firm reputation is developed in which short-lived clients purchase services from firms operated by overlapping generations of agents. A firm's only asset is its name, or reputation, and trade of names is not observed by clients. As a result, names are traded in all...

This paper describes conditions under which one investment project dominates a second project in terms of net present value, irrespective of the choice of the discount rate. The resulting partial ordering of projects has certain similarities to stochastic dominance. However, the structure of the...

For our experiment on corruption, we designed a coordination game to model the influence of risk attitudes, beliefs, and information on behavioral choices and determined the equilibria. We observed that the risk attitude of the participant failed to explain their choices between corrupt and...

En este artículo se busca construir las bases teóricas de aquello que explicaría el surgimiento de nuevas empresas y los procedimientos correspondientes en el mundo real, particularmente en el Brasil. Entre los fundamentos teóricos aparecen los factores objetivos, llamados así porque ellos...

This article reviews the development of low energy and sustainable housing in the UK and Germany. It illustrates that despite their close geographical proximity substantially different approaches have been applied in the two countries in the pursuit of an energy efficient, domestic built...