Showing 1 - 10 of 56
specifically, The aim of this paper is to formally examine two opposing forces, standardization and efficiency on the one hand, and …
Persistent link: https://www.econbiz.de/10011083315
efficiency for economic analysis. Econometric measures of energy consumption based on production function models are found to be …
Persistent link: https://www.econbiz.de/10005281317
Using a stochastic frontier model and a comprehensive dataset, we study factors that affect corporate efficiency in … efficiency, and (iii) high competition is less conductive to efficiency than moderate or low competition. In terms of ownership …, we find that (iv) efficiency increases when a majority owner must deal with minority shareholders and that (v) domestic …
Persistent link: https://www.econbiz.de/10011213309
We analyze the effect of a large group on an impure public goods model with lotteries. We show that as populations get large, and with selfish preferences, the level of contributions converges to the one given by voluntary contributions. With altruistic preferences (of the warm glow type), the...
Persistent link: https://www.econbiz.de/10008921774
We study the role of legal investor protection for the efficiency of the market for corporate control. Stronger legal … ability to create value. Accordingly, stronger legal investor protection can improve the efficiency of the takeover outcome …
Persistent link: https://www.econbiz.de/10009024489
Why were people so unprepared for the global financial crisis, the European debt crisis, and the Fukushima nuclear accident? To address this question, we study a model in which agents make state-contingent plans - think about actions in different contingencies - subject to the constraint that...
Persistent link: https://www.econbiz.de/10009351517
concerning the efficiency of business cycle fluctuations, and it provides an unsatisfactory explanation of labor market and …
Persistent link: https://www.econbiz.de/10008642884
When workers send applications to vacancies they create a network. Frictions arise if workers do not know where other workers apply to (this affects network creation) and firms do not know which candidates other firms consider (this affects network clearing). We show that those frictions and the...
Persistent link: https://www.econbiz.de/10009246606
Do firms have the right incentives to innovate in the presence of productivity spillovers? This paper proposes an explicit model of spillovers through labor flows in a framework with search frictions. Firms can choose to innovate or to imitate by hiring a worker from a firm that has already...
Persistent link: https://www.econbiz.de/10011171780
The paper proposes a model of on-the-job search and industry dynamics in which search is directed. Firms permanently differ in productivity levels, their production function features constant returns to scale, and search costs are convex in search intensity. Wages are determined in a competitive...
Persistent link: https://www.econbiz.de/10011084581