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Flodén, Martin - 2006

The Ramsey optimal taxation theory implies that the tax rate on capital income should be zero in the long run. This …

Persistent link: https://www.econbiz.de/10010281227

Glazer, Amihai; Segendorff, Björn - 2001

We consider a leader and a subordinate he appoints who engage in team production. The public observes the organization's performance, but is unable to determine the separate contributions of the leader and of the subordinate. The leader may therefore claim credit for the good work of his...

Persistent link: https://www.econbiz.de/10010281228

Fines, leniency, rewards and organized crime: Evidence from antitrust experiments

Bigoni, Maria; Fridolfsson, Sven-Olof; Le Coq, Chloé; … - 2008

Leniency policies and rewards for whistleblowers are being introduced in ever more fields of law enforcement, though their deterrence effects are often hard to observe, and the likely effect of changes in the specific features of these schemes can only be observed experimentally. This paper...

Persistent link: https://www.econbiz.de/10010281230

Correlation between intensity and recovery in credit risk models

Gaspar, Raquel M.; Slinko, Irina - 2005

from the theoretical literature to develop credit risk models that would include this possibility. A possible justification … the impact on credit risk term structures of the macroeconomic risks. In the proposed model the state of the economy is …

Persistent link: https://www.econbiz.de/10010281231

Price competition and convex costs

Weibull, Jörgen W. - 2006

In the original model of pure price competition, due to Joseph Bertrand (1883), firms have linear cost functions. For any number of identical such price-setting firms, this results in the perfectly competitive outcome; the equilibrium price equal the firms' (constant) marginal cost. This paper...

Persistent link: https://www.econbiz.de/10010281237

Prisoners' other dilemma

Blonski, Matthias; Spagnolo, Giancarlo - 2001

-discount factor parameter space cooperation equilibria are strictly risk dominated by non-cooperation (according to the Harsanyi …

Persistent link: https://www.econbiz.de/10010281240

The labor-supply elasticity and borrowing constraints: Why estimates are biased

Domeij, David; Flodén, Martin - 2001

The labor-supply elasticity is a central element in many macroeconomic models. We argue that assumptions underlying previous econometric estimates of the intertemporal labor supply elasticity are inconsistent with incomplete markets economies. In particular, if the econometrician ignores...

Persistent link: https://www.econbiz.de/10010281242

Risk sharing and firm size: Theory and international evidence

Giannetti, Mariassunta - 2001

amount of funds firms demand. As a consequence, keeping constant the level of opacity and risk, firms with better growth … efficiency of the financial system, measured by the level of monitoring costs, affects the extent of risk sharing within an … projects is concentrated in few individuals and firm shocks are idiosyncratic, the risk premium is likely to rise with the …

Persistent link: https://www.econbiz.de/10010281248

Forecasting with artificial network models

Rech, Gianluigi - 2002

This paper contains a forecasting exercise on 30 time series, ranging on several fields, from economy to ecology. The statistical approach to artificial neural networks modelling developed by the author is compared to linear modelling and to other three well-known neural network modelling...

Persistent link: https://www.econbiz.de/10010281250

The fetters of the sib: Weber meets Darwin

Alger, Ingela; Weibull, Jörgen W. - 2007

We analyze the effects of family ties on the incentives for productive effort. A family is modelled as a pair of altruistic siblings. Each sibling exerts effort to produce output under uncertainty and siblings may transfer output to each other. We show that altruism has a non-monotonic effect on...

Persistent link: https://www.econbiz.de/10010281251