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Using a gift exchange experiment, we show that the ability of reciprocity to overcome incentive problems inherent in principal-agent settings is greatly reduced when the agent’s effort is distorted by random shocks and transmitted imperfectly to the principal. Specifically, we find that gift...
Persistent link: https://www.econbiz.de/10011157030
Increasing and sustaining the quality of life for people can be possible when they are healthy. Good health conditions require good quality and reachable health care services. Because of the market failure as a result of asymmetric information, public sector as well as private one provides...
Persistent link: https://www.econbiz.de/10011260014
possible, allowing a rich theory of distributive justice. Other models assume that absolutely no interpersonal comparisons are …
Persistent link: https://www.econbiz.de/10005103411
We study a two-stage choice problem, where alternatives are allocations between the decision maker (DM) and a passive recipient. The recipient observes choice behavior in stage two, while stage one choice is unobserved. Choosing selfishly in stage two, in the face of a fairer available...
Persistent link: https://www.econbiz.de/10005260277
The focus of this study is on black markets which provide an important segment of the parallel economy. These markets operate in disequilibrium,search and information costs become very important.Trafficking in drugs taken as case, to explore both theoretically and empirically. The problem,...
Persistent link: https://www.econbiz.de/10009422026
We develop a model of social choice over lotteries, where people's psychological characteristics are mutable, their preferences may be incomplete, and approximate interpersonal comparisons of well-being are possible. Formally, we suppose individual preferences are described by a...
Persistent link: https://www.econbiz.de/10008645099
We prove the existence of a Pareto optimal state of a finite society that has socially differentiated persons, each with non-binary personal preferences that quasi-order a finite set of alternatives. Everybody engages in a volitional act of choice by maximization of non-binary preferences. As a...
Persistent link: https://www.econbiz.de/10011111129
This study was an attempt to explore the relationship between organizational justice, encompassed by three components …: (distributive justice, procedural justice and interactional justice) job satisfaction, that is employees’ perceptions of workplace … justice. This study, indeed, investigated the relationship among these justice measures in the Iranian environment. The data …
Persistent link: https://www.econbiz.de/10011259755
Ken Arrow (1998) asks, “What has economics to say about racial discrimination?” He replies – entirely correctly – that racial “segregation within an industry – that is, firms with either all black or all white labor forces” – may be explained by economic theory, but “the...
Persistent link: https://www.econbiz.de/10011260187
This paper carries out a brief analysis of Amartya Sen’s thinking on Justice, based on Part IV of his book The Idea of … Justice. Besides of describing Sen’s thoughts on the subject, the paper aims to contextualize it in the evolution of Sen …’s work and in the general discussion on Justice in economic theory, reconsidering his identity as a non utilitarian …
Persistent link: https://www.econbiz.de/10011260573