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Heterogeneous Multiple Bank Financing, Optimal Business Risk and Information Disclosure

Bannier, Christina E. - 2005

This paper studies optimal risk-taking and information disclosure by firms that obtain financing from both a 'relationship' bank and 'arm's-length' banks. We find that firm decisions are asymmetrically influenced by the degree of heterogeneity among banks: lowly-collateralized firms vary optimal...

Persistent link: https://www.econbiz.de/10010263312

Incentive Contracts and Efficient Unemployment Benefits

Demougin, Dominique - 2009

Several European countries have reformed their labor market institutions. Incentive effects of unemployment benefits have been an important aspect of these reforms. We analyze this issue in a principal-agent model, focusing on unemployment levels and labor productivity. In our model, a higher...

Persistent link: https://www.econbiz.de/10012718896

Incentive Contracts and Efficient Unemployment Benefits

Demougin, Dominique; Helm, Carsten - 2021

Persistent link: https://www.econbiz.de/10013316365

Information disclosure by a seller in a sequential first-price auction

Azacis, Helmuts - 2017

I study a sequential first-price auction where two items are sold to two bidders with private binary valuations. A seller, prior to the second auction, can publicly disclose some information about the outcome of the first auction. I characterize equilibrium strategies for various disclosure...

Persistent link: https://www.econbiz.de/10011689443

Inefficiency in private value bargaining with naive players : an experimental study

Possajennikov, Alexandre; Saran, Rene - 2018

no equilibrium achieving full efficiency. In the experiment, we vary the proportion of naive traders by introducing … computerized players. We find that full efficiency is not achieved in the experiment with or without naive traders, and efficiency … experiment participants, and that allowing face-to-face pre-play communication increases efficiency although still not to the …

Persistent link: https://www.econbiz.de/10011852503

The Efficiency of Competitive Mechanisms Under Private Information

Al-Najjar, Nabil I.; Smorodinsky, Rann - 2012

We consider the efficiency properties of exchange economies where privately informed traders behave strategically …

Persistent link: https://www.econbiz.de/10014172021

Information Flow Design and Asymptotic Efficiency

Dogan, Mustafa - 2023

that the planner can asymptotically achieve allocative efficiency through a two-stage disclosure rule. The signal in the …

Persistent link: https://www.econbiz.de/10014261888

Moral hazard and non-exclusive contracts

Bisin, Alberto; Guaitoli, Danilo - Department of Economics and Business, Universitat … - 1998

and equilibrium allocations are third best inefficient (where the definition of third best efficiency accounts for …

Persistent link: https://www.econbiz.de/10005707963

Moral Hazard and Non-Exclusive Contracts

Bisin, Alberto; Guaitoli, Danilo - C.E.P.R. Discussion Papers - 1998

and equilibrium allocations are third best inefficient (where the definition of third best efficiency accounts for …

Persistent link: https://www.econbiz.de/10005497778

When Do We Learn to Cooperate? The Role of Social Learning in Social Dilemmas

Best, James A. - School of Economics, University of Edinburgh - 2011

In this paper, I look at the interaction between social learning and cooperative behavior. I model this using a social dilemma game with publicly observed sequential actions and asymmetric information about payoffs. I find that some informed agents in this model act, individually and without...

Persistent link: https://www.econbiz.de/10009143950