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Competitive Markets with Endogenous Health Risks

Bennardo, Alberto; Piccolo, Salvatore - C.E.P.R. Discussion Papers - 2005

We study a general equilibrium model where agents' preferences, productivity and labour endowments depend on their health status, and occupational choices affect individual health distributions. Efficiency typically requires agents of the same type to obtain different expected utilities if...

Persistent link: https://www.econbiz.de/10005662275

Cannabis use and suicidal ideation

Fergusson, David; Horwood, John; Ours, Jan C van; … - C.E.P.R. Discussion Papers - 2012

Globally, suicide has emerged as the second leading cause of death among youth aged 10-24 years old. In order to better understand the causes of this phenomenon, we investigate the relationship between suicidal ideation and cannabis use. Our empirical analysis is based on a 30 year longitudinal...

Persistent link: https://www.econbiz.de/10011084327

Paying for Performance with Altruistic or Motivated Providers

Siciliani, Luigi - C.E.P.R. Discussion Papers - 2007

separating equilibrium can emerge, depending on the degree of altruism, characterised as very low, low, high and very high. i …) For very low altruism the quantity of the efficient and inefficient types is distorted upwards and downwards respectively …; the efficient type makes a positive profit. ii) For low altruism the quantity of the efficient and inefficient types is …

Persistent link: https://www.econbiz.de/10005661600

Multitasking, Quality and Pay for Performance

Kaarboe, Oddvar Martin; Siciliani, Luigi - C.E.P.R. Discussion Papers - 2008

We present a model of optimal contracting between a purchaser and a provider of health services when quality has two dimensions. We assume that one dimension of quality is verifiable (dimension 1) and one dimension is not verifiable (dimension 2). We show that the power of the incentive scheme...

Persistent link: https://www.econbiz.de/10005791404

Acid Rain

Newbery, David M G - C.E.P.R. Discussion Papers - 1990

Acid rain is caused by sulphur dioxide (SO2), largely from power stations, and nitrogen oxides (NOx), half of which comes from vehicles. The paper attempts to quantify the costs and benefits of abatement in Europe, and concludes that the current agreement on uniform reductions from 1980 levels...

Persistent link: https://www.econbiz.de/10005281281

Efficiency and Equity: Is There a Trade-off?

Correia, Isabel - C.E.P.R. Discussion Papers - 1995

Efficient measures are often not implemented because of their potentially damaging effects on distribution, yet these distributional effects are scarcely studied in economics because of the idea that they are case specific. In this paper we show that when we can separate the effect on efficiency...

Persistent link: https://www.econbiz.de/10005504425

Public goods, participation constraints, and democracy: A possibility theorem

Grüner, Hans Peter - C.E.P.R. Discussion Papers - 2008

It is well known that ex post efficient mechanisms for the provision of indivisible public goods are not interim individually rational. However, the corresponding literature assumes that agents who veto a mechanism can enforce a situation in which the public good is never provided. This paper...

Persistent link: https://www.econbiz.de/10005504573

Financial Integration and Systemic Risk

Fecht, Falko; Grüner, Hans Peter - C.E.P.R. Discussion Papers - 2005

Recent empirical studies criticize the sluggish financial integration in the euro area and find that only interbank money markets are fully integrated so far. This paper studies the optimal regional and/or sectoral integration of financial systems given that integration is restricted to the...

Persistent link: https://www.econbiz.de/10005497717

Some Social Welfare Implications of Behavioural Preferences

Gallice, Andrea - C.E.P.R. Discussion Papers - 2007

We investigate how the assumption that individuals are characterized by some recent forms of behavioural preferences changes the analysis of an otherwise classical welfare problem, namely the optimal allocation of a scarce resource among a finite number of claimants. We consider two preference...

Persistent link: https://www.econbiz.de/10005497756

Moral Hazard and Non-Exclusive Contracts

Bisin, Alberto; Guaitoli, Danilo - C.E.P.R. Discussion Papers - 1998

This paper studies equilibria for economies characterized by moral hazard (hidden action), in which the set of contracts marketed in equilibrium is determined by the interaction of financial intermediaries. The crucial aspect of the environment that we study is that intermediaries are restricted...

Persistent link: https://www.econbiz.de/10005497778