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Optimal private and public harvesting under spatial and temporal interdependence
Koskela, Erkki; Ollikainen, Markku - 2001
This paper extends the Hartman model to include the case where two adjacent stands may be interdependent in the provision of amenity services. We show first that the relationship between the focal and exogenous rotation age depends on the nature of their temporal interdependence, i.e. on what...
Persistent link: https://www.econbiz.de/10001590450
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A theory of reciprocity
Falk, Armin; Fischbacher, Urs - 2001
This paper presents a formal theory of reciprocity. Reciprocity means that people reward kind actions and punish unkind … ones. The theory takes into account that people evaluate the kindness of an action not only by its consequences but also … the intention underlying this action. The theory explains the relevant stylized facts of a wide range of experimental …
Persistent link: https://www.econbiz.de/10001590591
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Science vs. profit in research : lessons from the human genome project
Carraro, Carlo; Pomè, Alessandra; Siniscalco, Domenico - 2001
Persistent link: https://www.econbiz.de/10001613642
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Structural adjustment and endogenous worker recall probabilities
Meland, Frode; Torsvik, Gaute - 2002
In this paper we investigate the incentives of unemployed workers to wait for a recall when recall probabilities are endogenously determined by the waiting decisions of others. Because of a positive externality that arises when workers seek new employment, an excessive number of workers choose...
Persistent link: https://www.econbiz.de/10001666978
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Optimal pricing and endogenous herding
Bose, Subir; Orosel, Gerhard O.; Vesterlund, Lise - 2002
We consider a monopolist who sells identical objects of common but unknown value in a herding-prone environment. Buyers make their purchasing decisions sequentially, and rely on a private signal as well as previous buyers' actions to infer the common value of the object. The model applies to a...
Persistent link: https://www.econbiz.de/10001673508
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Contractual externalities and common agency equilibria
Martimort, David; Stole, Lars A. - 2001
This paper characterizes the equilibrium sets of an intrinsic common agency game with direct externalities between principals both under complete and asymetric information. Direct externalities arise when the contracting variable of one principal affects directly the other pricipal`s payoff....
Persistent link: https://www.econbiz.de/10001624206
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The revelation and delegation principles in common agency games
Martimort, David; Stole, Lars A. - 2001
In the context of common agency adverse-selection games we illustrate that the revelation principle cannot be applied to study equilibria of the multi-principal games. We then demonstrate that an extension of the taxation pricipal - what we term the "delegation priciple" - can be used to...
Persistent link: https://www.econbiz.de/10001624208
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Accident law : an excessive standard may be efficient
Goerke, Laszlo - 2001
In a world with risk-neutral agents, liability rules will only induce efficient behaviour if these rules impose the full (marginal) costs of an action on the parties. However, institutional restrictions or bilateral activity choices can prevent the full internalisation of costs. A mechanism is...
Persistent link: https://www.econbiz.de/10001634352
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Monitoring, moral hazard, and market power : a model of bank lending
Covitz, Daniel M.; Heitfield, Erik A. - 1999
Persistent link: https://www.econbiz.de/10001411320
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The competition between competition rules
Sinn, Hans-Werner - 1999
Persistent link: https://www.econbiz.de/10001411408