Showing 361 - 370 of 435
maturity rather than renegotiation of the principle in the case of loan default is due to the superior incentive properties of … open the possibility of foreclosure, it will be preferred to renegotiation as long as the dead weight loss from foreclosure …
Persistent link: https://www.econbiz.de/10005746157
should experience a comparative gain within their marriage. However, if renegotiation possibilities are limited by … the German Socio-Economic Panel indeed shows that, as long as renegotiation opportunities are limited, comparatively …
Persistent link: https://www.econbiz.de/10005747183
Renegotiation Proof Equilibrium payoffs shrinks towards the joint profit maximizing payoff point as marginal costs are made to rise …
Persistent link: https://www.econbiz.de/10005749544
We construct a regulation model in which renegotiation occurs due to the imperfect enforcement of concession contracts …. This enables us to provide theoretical predictions for the impact, on the probability of renegotiation of a concession, of …
Persistent link: https://www.econbiz.de/10005750739
Persistent link: https://www.econbiz.de/10005753096
Why do irreplaceable firms with a choice of suppliers or customers deliberately expose themselves to the threat of hold up by contracting ex ante to deal with only one of them? Our explanation revolves around the multiple equilibria intrinsic to situations of unverifiable investment and many...
Persistent link: https://www.econbiz.de/10005577268
married women, it should be beneficial to them. We show that, if renegotiation possibilities for migrant women are limited …
Persistent link: https://www.econbiz.de/10005583084
This paper reviews the Latin American experience with highway privatization during the last decade. Based on evidence from Argentina, Colombia and Chile, we find that private financing of new highways freed up fewer public resources than expected because public funds were often diverted to bail...
Persistent link: https://www.econbiz.de/10005587174
The literature on contracts has shown that renegotiation in agency relationships generates efficiency losses when the … principal leads the renegotiation. We show that contractual incompleteness may reduce such efficiency loss. This provides an … inefficiency when he leads the renegotiation; this latter result tempers the irrelevancy of contractual incompleteness demonstrated …
Persistent link: https://www.econbiz.de/10005598209
This article analyzes a much debated clause in the 1996 coalition contract between SPD and F.D.P. in Rheinland-Pfalz. Two parties write a contract, based on which decisions under incomplete information have to be made at a later point in time. It is shown that a complex complete contract can...
Persistent link: https://www.econbiz.de/10005620143