Showing 1 - 10 of 242
According to economic analysis, common-law courts resolve individual legal disputes and create new, judge-made law. In this article, I study both functions in a civil-law context by analyzing data for nine German labor courts of appeal (Landesarbeitsgerichte) in the period 1980-1996. Output of...
Persistent link: https://www.econbiz.de/10005593065
Controlling the performance of employed physicians, university professors, or tenured judges is a difficult managerial problem, because these professionals perform complex tasks that are hard to measure and because many of the economic incentives common to private-sector employees do not apply...
Persistent link: https://www.econbiz.de/10005628471
Persistent link: https://www.econbiz.de/10009371777
Persistent link: https://www.econbiz.de/10009371780
Der vorliegende Beitrag argumentiert, daß die regionale Arbeitsmarktsituation (Zugänge in Arbeitslosigkeit und Zugänge an freien Stellen) die Entscheidung von Arbeitnehmern, eine Kündigungsschutzklage einzureichen, deutlich beeinflußt. Regressionsanalysen mit amtlichen Daten für die...
Persistent link: https://www.econbiz.de/10009371782
When ambiguity averse investors process news of uncertain quality, they act as if they take a worst-case assessment of quality. As a result, they react more strongly to bad news than to good news. They also dislike assets for which information quality is poor, especially when the underlying...
Persistent link: https://www.econbiz.de/10005504015
This paper considers learning when the distinction between risk and ambiguity (Knightian uncertainty) matters. Working within the framework of recursive multiple-priors utility, the paper formulates a counterpart of the Bayesian model of learning about an uncertain parameter from conditionally...
Persistent link: https://www.econbiz.de/10005504040
When ambiguity averse investors process news of uncertain quality, they act as if they take a worst-case assessment of quality. As a result, they react more strongly to bad news than to good news. They also dislike assets for which information quality is poor, especially when the underlying...
Persistent link: https://www.econbiz.de/10005504043
This paper studies the diffusion of a new technology that is brought to market while its potential is still uncertain. We consider a dynamic game in which firms improve both a new and a rival old technology while learning about the relative potential of both technologies. We use the model to...
Persistent link: https://www.econbiz.de/10005504449
Persistent link: https://www.econbiz.de/10005516777