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This paper views authority as the right to undertake decisions that have external effects on other members of the organization. Because of contractual incompleteness, monetary incentives are insufficient to internalize these effects in the decision maker’s objective. The optimal...
Persistent link: https://www.econbiz.de/10005785919
Today's theorizing about economic policy is still dominated by a method of analysis that can be refered to as "instrumentalistic-technological". Especially typical for that method is the complete abstraction from cognitive-evolutionary aspects of economic-policy interaction. However, including...
Persistent link: https://www.econbiz.de/10005786090
opportunities for the agricultural sector, but they also entail novel risks. The management of the externalities and of the possible …
Persistent link: https://www.econbiz.de/10005786692
The main purpose of this paper is to analyze one important part of the emerging environmental problems in China--- water pollution. The importance of water for any nation is obvious. In case of China it acquires particular salience because of China’s industrial needs as well as human needs....
Persistent link: https://www.econbiz.de/10005787145
In this paper, I discuss, from a policy perspective, the relation between environmental institutions and transaction costs. I stress the importance of environmental institutions in providing decisive information, i.e. information that induces changes in behaviour, and thereby facilitates...
Persistent link: https://www.econbiz.de/10005754369
Persistent link: https://www.econbiz.de/10005759828
in a population of heterogeneous adopters with local or global externalities. The relationships between both … heterogeneity and externalities and imperfect and asymmetric information are first emphasized. When local externalities and … enough or with one of the technologies only surviving in technological niches when local externalities dominate. Niches do …
Persistent link: https://www.econbiz.de/10005760510
Public “Beta” launches have become a preferred route of entry into the markets for new software products and web site based services. While beta testing of novel products is nothing new, typically such tests were done by experts within firm boundaries. What makes public beta testing so...
Persistent link: https://www.econbiz.de/10005760643
This paper examines the issue of whether workers learn productive skills from their co-workers, even if those skills are unethical. Specifically, we estimate whether Jose Canseco, one of the best baseball players in the last few decades, affected the performance of his teammates. In his...
Persistent link: https://www.econbiz.de/10005761622
This paper presents a model of legal migration from one source country to two host countries, both of which can control their levels of immigration. Because of complementarities between capital and labor, the return on capital is positively related to the level of immigration. Consequently, when...
Persistent link: https://www.econbiz.de/10005761831