An innovative firm chooses strategically whether to patent its process innovation or rely on secrecy. By doing so, the firm manages its rival’s beliefs about the size of the innovation, and affects the incentives in the product market. Different measures of competitive pressure in the product...

Im klassischen Modell von Diamond und Dybvig (1983) werden Bank-runs durch sich selbst erfüllende pessimistische Erwartungen der Anleger provoziert. Sie sind damit ein Sonnenflecken-Phänomen. Die spekulativen Runs können u.a. durch eine Einlagenversicherung vermieden werden. Allerdings...

In this paper a modified version of Bernanke and Blinder�s (1988) model of the bank lending channel of monetary policy under asymmetric information is presented. If, aside from reserve requirements, banks have to meet capital adequacy requirements as well, then the results suggested by...

Contrary to what is consistently assumed in the literature, the return function cannot be hump-shaped in the Stiglitz-Weiss (1981) model. This has important consequences for the possible occurrence of credit rationing and redlining. With a single class of borrowers, banks offer credit in two...

Electronic commerce and flexible manufacturing allow personalization of initially standardized products at low cost. Will customers provide the information necessary for personalization? Assuming that a consumer can control the amount of information revealed, we analyze how his decision...

Certification schemes for forest products are understood by many as a way to promote sustainable resource use when it is impossible to rely on direct enforcement of process standards. Based on the concept of ‘Self-Enforcing Contracts’, this study develops a market model that simulates the...

ILO pub-wep pub. Working paper on the labour market of Brazil - discusses theoretical aspects of labour market and labour law, effects of government's wage policy, minimum wage laws, underemployment, unemployment, labour market segmentation, labour demand and labour supply in the agricultural...

Analyses the characteristics of qualifications and evaluates their impact on the functioning of the labour market.