traditional investors. The analysis is performed within a two-period, two-state signaling model with information asymmetry between …

This paper studies how subsidies for photovoltaic solar systems can lead to second-degree moral hazard - the impulse of … installers to increase factors determining the total subsidies and/or transaction when consumers receive larger subsidy levels … electricity output leading to increased subsidies when third-parties own the PV system and ii) increased transaction prices when …

This paper studies how subsidies for solar systems can lead to second-degree moral hazard - the impulse of installers … to increase prices and/or reduce labor input when customers receive subsidies. Employing an instrumental variable … subsidy levels are associated with a cost increase when customers receive unconditional upfront subsidies as compared to …

´s willingness to participate in a strike. We develop and compare two signaling models of strikes: in one, firms are able to monitor …

constraints or the promotion of follow-on innovation. …