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Disputes over penalties for breach of contract are often solved in court. A simple model shows how inefficient courts may induce public buyers to refrain from enforcing penalties for late delivery to avoid litigation, inducing sellers to delay. Using a large dataset on Italian public...
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efficiency of universities in a fundamental way. Choosing Italy and Germany as two important illustrative examples we can take … recent literature exposes variations in their efficiencies. To gain insights into these differences we split the efficiency … method to measure efficiency, we separate short-term (transient) and long-term (persistent) efficiency, while controlling for …
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Are Information and Communication Technology (ICT) and Research & Development (R&D) productive inputs or efficiency … stochastic frontier approach. ICT and R&D are used once as inputs, once as efficiency determinants. The results show that the … into the model only as inputs. We also documented that ICT and R&D contribute positively to explain the efficiency scores. …
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