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We propose a theory linking imperfect information to resource misallocation and hence to aggregate productivity and …
Persistent link: https://www.econbiz.de/10013032125
In this article we analyse the impact of spousal preference expectations on mothers' willingness to invest in children’s food/nutrition and health/medical expenses. We use a survey conducted in Karnataka, South India, where women with children were asked to state their investment preference in...
Persistent link: https://www.econbiz.de/10011883859
We propose a theory linking imperfect information to resource misallocation and hence to aggregate productivity and …
Persistent link: https://www.econbiz.de/10012458327
Persistent link: https://www.econbiz.de/10011645992
This paper generalizes a conceptual insight in dynamic contracting with quasilin- ear payoffs: the principal does not need to pay any information rents for extract- ing the agent’s “new” private information obtained after signing the contract. This is shown in a general model in which the...
Persistent link: https://www.econbiz.de/10011704662
When a region successfully attracts a large firm by offering tax concessions, outright subsidies etc., the firm often commits itself to performance targets in terms of investment or employment. This paper interprets these contractually fixed targets as a consequence of incomplete information. It...
Persistent link: https://www.econbiz.de/10010354728
Neeman (2004) and Heifetz and Neeman (2006) have shown that, in auctions with incomplete information about payoffs, full surplus extraction is only possible if agents’ beliefs about other agents are fully informative about their own payoff parameters. They argue that the set of...
Persistent link: https://www.econbiz.de/10010230371
Persistent link: https://www.econbiz.de/10011561657
This paper studies the optimal mechanisms for a seller with imperfect commitment who puts up for sale one individual unit per period to a single buyer in a dynamic game. The buyer's willingness to pay remains constant over time and is his private information. In this setting, the seller cannot...
Persistent link: https://www.econbiz.de/10010402248
Persistent link: https://www.econbiz.de/10012631350