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Intrafirm conflicts and interfirm price competition

Güth, Werner; Pull, Kerstin; Stadler, Manfred - 2011

We study interfirm price competition in the presence of horizontal and vertical intrafirm conflicts in each firm. Intrafirm conflicts are captured by a principal-agent framework with firms employing more than one agent and implementing a tournament incentive scheme. The principals offer premium...

Persistent link: https://www.econbiz.de/10010281682

Which parameters drive approximation inaccuracies?

Sienknecht, Sebastian - 2010

This paper identifies parameters responsible for welfare reversals when the basic New Keynesian model is approximated. In our setting, a reversal occurs when the Ramsey policy under timeless perspective commitment ceases to be dominant against the Taylor rule after approximating the model. We...

Persistent link: https://www.econbiz.de/10010281684

Competitive problem solving and the optimal prize schemes

Suzuki, Toru - 2010

Agents compete to solve a problem. Each agent knows own computational capacity as private information and simultaneously chooses either a risky or a safe problem solving method. This paper analyzes the optimal prize schemes from the perspective of the prize designer who wishes to find a solution...

Persistent link: https://www.econbiz.de/10010281687

The dark side of reciprocity

Montinari, Natalia - 2011

Whether friendship or competitive relationships deserve to be encouraged in the workplace is not obvious a priori. In this paper we derive the conditions under which a profit-aximizing employer finds it convenient to induce a rat race among workers exhibiting horizontal reciprocity in order to...

Persistent link: https://www.econbiz.de/10010281688

Interbank lending and the demand for central bank loans: A simple microfoundation

Pasche, Markus - 2010

simultaneously the demand and supply of borrowed reserves on the interbank market. As the central bank is one player in this market … bank loans. Comparative static analysis shows how external or monetary policy shocks affect the behavior on the interbank … market, the volume as well as the structure of the bank's balance sheet. It turns out that the banking firm behavior is non …

Persistent link: https://www.econbiz.de/10010281689

A perspective on Minsky moments: The core of the financial instability hypothesis in light of the subprime crisis

Vercelli, Alessandro - 2009

This paper aims to help bridge the gap between theory and fact regarding the so-called 'Minsky moments' by revisiting …

Persistent link: https://www.econbiz.de/10010281751

On the notion of ecological justice

Glotzbach, Stefanie - 2011

. Showing that Rawls' 'A Theory of Justice' (1971) can consistently meet the identified demands, I verify that it is an … appropriate theory for deriving a conception of ecological justice. …

Persistent link: https://www.econbiz.de/10010281761

Subadditivity and contestability in the postal sector: Theory and evidence

El Masri, Toufic M. - 2011

the basic conditions of natural monopoly theory and to review the approaches and results of the studies dealing with this …

Persistent link: https://www.econbiz.de/10010281763

Irreversibility, ignorance, and the intergenerational equity-efficiency trade-off

Hoberg, Nikolai; Baumgärtner, Stefan - 2011

We demonstrate the existence of an intergenerational equity-efficiency tradeoff in policy-making that aims at Pareto-efficiency across generations and sustainability, i.e. non-decreasing utility over time. Our model includes two salient characteristics of sustainability problems and policy: (i)...

Persistent link: https://www.econbiz.de/10010281770

A utilitarian notion of responsibility for sustainability

Fünfgelt, Joachim; Baumgärtner, Stefan - 2012

We develop and formalize a utilitarian notion of responsibility for sustainability which is inspired by Singer's (1972) principle and the Brundtland Commission's notion ofsustainability (WCED 1987). We relate this notion of responsibility to established criteria forthe assessment of...

Persistent link: https://www.econbiz.de/10010281771