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Horner, Johannes - 2015

We study a discrete-time model of repeated moral hazard without commitment. In every period, a principal finances a … the returns of a successful project unbeknownst the principal. The absence of commitment is reflected both in the solution … period to the next. We show that removing commitment from the equilibrium concept is relatively innocuous -- if the players …

Persistent link: https://www.econbiz.de/10013027917

Soft Budgets and Renegotiations in Public-Private Partnerships

Engel, Eduardo; Fischer, Ronald; Galetovic P., Alexander - 2009

Public-private partnerships (PPPs) are increasingly used to provide infrastructure services. Even though PPPs have the potential to increase efficiency and improve resource allocation, contract renegotiations have been pervasive. We show that existing accounting standards allow governments to...

Persistent link: https://www.econbiz.de/10014204667

The Basic Public Finance of Public-Private Partnerships

Engel, Eduardo - 2011

Public-private partnerships (PPPs) have been justified because they release public funds or save on distortionary taxes. However, the resources saved by a government that does not finance the upfront investment are offset by giving up future revenue flows to the concessionaire. If a PPP can be...

Persistent link: https://www.econbiz.de/10012756839

When Salespeople Manage Customer Relationships : Multidimensional Incentives and Private Information

Kim, Minkyung - 2019

Incentivized salespeople are often responsible for CRM activities that focus not only on customer acquisition, but also maintenance activities that increase customer lifetime value. While incentives can induce effort on the incentivized tasks, a salesperson's private information about customers...

Persistent link: https://www.econbiz.de/10012899897

Health Reform, Health Insurance, and Selection : Estimating Selection into Health Insurance Using the Massachusetts Health Reform

Hackmann, Martin B.; Kolstad, Jonathan; Kowlaski, Amanda E. - 2013

We implement an empirical test for selection into health insurance using changes in coverage induced by the introduction of mandated health insurance in Massachusetts. Our test examines changes in the cost of the newly insured relative to those who were insured prior to the reform. We find that...

Persistent link: https://www.econbiz.de/10014174423

Estimated Costs of Injuries in College and High School Female Sports

Fair, Ray C.; Champa, Christopher - 2019

Injury rates in thirteen U.S. women’s college sports and four U.S. girls’ high school sports are examined in this paper. The sports are categorized as high injury (H) or low injury (L) and diﬀerences in injury rates between the two are examined. Estimates are presented of the injury...

Persistent link: https://www.econbiz.de/10014104842

Financing Firms in Hibernation during the COVID-19 Pandemic

Didier, Tatiana - 2020

The coronavirus (COVID-19) pandemic has halted economic activity worldwide, hurting firms and pushing them toward bankruptcy. This paper provides a unified framework to organize the policy debate related to firm financing during the downturn, centered along four main points. First, the economic...

Persistent link: https://www.econbiz.de/10012834375

Barefoot and Footloose Doctors : Optimal Resource Allocation in Developing Countries with Medical Migration

Roemer, John E.; Rosa Dias, Pedro - 2015

In light of the shortage of healthcare professionals, many developing countries operate a defacto two-tiered system of healthcare provision, in which Community Health Workers (CHWs) supplement service provision by fully qualified physicians. CHWs are relatively inexpensive to train but can treat...

Persistent link: https://www.econbiz.de/10014038129

Bergemann, Dirk; Morris, Stephen - 2011

We define a notion of correlated equilibrium for games with incomplete information in a general setting with finite players, finite actions, and finite states, which we call Bayes correlated equilibrium. The set of Bayes correlated equilibria of a fixed incomplete information game equals the set...

Persistent link: https://www.econbiz.de/10014176751

Interdependent Preferences and Strategic Distinguishability

Bergemann, Dirk; Morris, Stephen; Takahashi, Satoru - 2011

A universal type space of interdependent expected utility preference types is constructed from higher-order preference hierarchies describing (i) an agent's (unconditional) preferences over a lottery space; (ii) the agent's preference over Anscombe-Aumann acts conditional on the unconditional...

Persistent link: https://www.econbiz.de/10014185594