We examine a repeated interaction between an agent, who undertakes experiments, and a principal who provides the requisite funding for these experiments. The repeated interaction gives rise to a dynamic agency cost — the more lucrative is the agent’s stream of future rents following a...

Cikkünkben arra a kérdésre keressük a választ, hogy miért lassult le az infokommunikációs szektor - azon belül a távközlés - látványos növekedése az ezredfordulón. Az elterjedt véleménnyel szemben, amely szerint a lassulást és stagnálást az információs vállalkozások...

A közlekedés szabályozása az Európai Unióban és Magyarországon A cikk az Európai Unió és Magyarország közlekedési rendszereinek hatékonysági problémái és az ágazati szabályozás közötti összefüggéseket elemzi. A közlekedés alacsony fokú hatékonysága és torz...

Sustainable intensification of Ghana’s smallholder farming is critical to mitigate rural poverty. Innovations for sustainable intensification include agro-ecological practices, which build up soil fertility, and mulching, which conserves soil moisture. To stimulate the adoption of these...

This paper describes one proposition about dynamic Markowitz portfolio selection in a two-country open economy. Here it is proved that, assuming that two countries in an open economy share the same risk absolute aversion coefficient and the same information set with some conditions, the...

The purpose of this paper is to generalize the incomplete contract model of Bajari and Tadelis (2001) into a continuous model, and to derive the condition under which the monotone comparative statics (MCS) methods can be applied. I will show that a type of single-crossing condition on the...

Under reduced-form learning, agents are endowed with an aggregate model, and rational expectations are then replaced with subjective expectations. This paper demonstrates that the reduced-form learning approach may be arbitrary in that a particular representation of aggregate dynamics has...

In periods of high energy demand, utilities frequently issue "emergency" appeals for conservation over peak hours to reduce brownout risk. We estimate the impact of such appeals using high-frequency data on actual and forecasted electricity generation, pollutant emission measures, and real-time...

We develop a model of cheap talk with transparent and monotone motives from a seller to an informed buyer. By transparent and monotone motives, we mean that the seller's preference does not depend on the state of the world and is increasing in the choice(s) of the buyer regardless of the state...

This study investigates whether the success of salary history bans could be limited by job-seekers volunteering their salaries unprompted. We survey American workers in 2019 and 2021 about their recent job searches, distinguishing when candidates were asked about salary history from when they...