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Accidents, liability obligations and monopolized markets for spare parts: profits and social welfare
Baake, Pio - 2008
We analyze the effects of accidents and liability obligations on the incentives of car manufacturers to monopolize the … external effect inasmuch as liability obligations imply that consumers of competing products have to pay the high prices as …
Persistent link: https://www.econbiz.de/10010265005
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Dealing with Excessive Off-label Drug Use: Liability vs. Patent Prolongation
Felder, Stefan; Olbrich, Anja - 2009
reinforcement of physician liability for off-label use may be the preferred instrument for achieving dynamic efficiency. The … liability threat reduces the demand for off-label use, giving manufacturers an appropriate incentive to invest in extended …
Persistent link: https://www.econbiz.de/10010265794
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The economics of credence goods: on the role of liability, verifiability, reputation and competition
Dulleck, Uwe; Kerschbamer, Rudolf; Sutter, Matthias - 2009
determinants for efficiency in credence goods markets. While theory predicts that either liability or verifiability yields … efficiency, we find that liability has a crucial, but verifiability only a minor effect. Allowing sellers to build up reputation … higher efficiency as long as liability is violated. …
Persistent link: https://www.econbiz.de/10010271236
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The Economics of Credence Goods: On the Role of Liability, Verifiability, Reputation and Competition
Dulleck, Uwe; Kerschbamer, Rudolf; Sutter, Matthias - 2009
determinants for efficiency in credence goods markets. While theory predicts that either liability or verifiability yields … efficiency, we find that liability has a crucial, but verifiability only a minor effect. Allowing sellers to build up reputation … higher efficiency as long as liability is violated. …
Persistent link: https://www.econbiz.de/10010294835
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Sleeping
Laufey Asgeirsdottir, Tinna - 2008
Sleep is a source of energy. This energy is available in limited quantity and individuals must decide when it should be renewed and when it should be consumed. The economics of sleeping and the economics of resource extraction are one and the same. More specifically, utility maximization with...
Persistent link: https://www.econbiz.de/10014306470
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Productivity, wages and relationships
2008
Labour demand and wages depend on the state and volatility of relationships within firms. Good relationships lower profit-maximising wages and raise firms’ profits and hence constitute an asset to the firm. Wages are lower because when people enjoy collaborating in the absence of wage...
Persistent link: https://www.econbiz.de/10014306473
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Investment in financial literacy and saving decisions
Jappelli, Tullio; Padula, Mario - 2011
We present an intertemporal consumption model of consumer investment in financial literacy. Consumers benefit from such investment because their stock of financial literacy allows them to increase the returns on their wealth. Since literacy depreciates over time and has a cost in terms of...
Persistent link: https://www.econbiz.de/10010308561
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A Politico-Economic Model of Aging, Technology Adoption and Growth
Prarolo, Giovanni; Lancia, Francesco - 2007
expectancy and educational attainment. This paper provides a positive theory that explains how an economy might evolve when the … innovation policy. The theory focuses on the crucial role played by heterogeneous interests in determining innovation policies …
Persistent link: https://www.econbiz.de/10010312332
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A product market theory of worker training
Gersbach, Hans; Schmutzler, Armin - 2003
We develop a product market theory that explains why firms invest in general training of their workers. We consider a …
Persistent link: https://www.econbiz.de/10010315501
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Globalization and general worker training
Gersbach, Hans; Schmutzler, Armin - 2004
We examine how globalization affects firms incentives to train workers. In our model, firms invest in productivity-enhancing worker training before Cournot competition takes place. When two separated product markets become integrated and are thus replaced with a market with greater demand and...
Persistent link: https://www.econbiz.de/10010315570