Showing 1 - 10 of 105
We analyze a bargaining protocol recently proposed in the literature vis-à-vis unconstrained negotiation. This new mechanism extracts “gains from trade” inherent in the differing valuation of two parties towards various issues where conflict exists. We assess the role of incomplete vs....
Persistent link: https://www.econbiz.de/10010988983
We analyze a bargaining protocol recently proposed in the literature vis-à-vis unconstrained negotiation. This new mechanism extracts “gains from trade” inherent in the differing valuation of two parties towards various issues where conflict exists. We assess the role of incomplete vs....
Persistent link: https://www.econbiz.de/10010553337
Persistent link: https://www.econbiz.de/10010557741
In Conflict Resolution situations where two parties with opposed preferences need to make a number of decisions simultaneously, we propose a simple mechanism that endows agents with a certain number of votes that can be distributed freely across issues. This mechanism allows parties to trade off...
Persistent link: https://www.econbiz.de/10008865860
We analyze the contracting structure in a moral hazard setting with several agents whereoutput is produced jointly and is the only contractible variable. Since the salary of each agentis a function of all agents efforts, a positive externality arises between them. This externalityis not...
Persistent link: https://www.econbiz.de/10005510536
Can we devise mechanisms that allow voters to express the intensity of their preferences when monetary transfers are forbidden? Can minorities be decisive over those issues they feel very strongly about? As opposed to the usual voting system (one person – one decision – one vote),...
Persistent link: https://www.econbiz.de/10011135388
Institutions can limit governments' policy options. Such restrictions are usually commended as solutions to time inconsistency problems or coordination failures. However, policy constraints can have important drawbacks and these disadvantages have generally been overlooked to date. When...
Persistent link: https://www.econbiz.de/10011099319
Institutions can limit governments' policy options. Such restrictions are usually commended as solutions to time inconsistency problems or coordination failures. However, policy constraints can have important drawbacks and these disadvantages have generally been overlooked to date. When...
Persistent link: https://www.econbiz.de/10010729223
Following Pillar 3 of the new Basel Capital Adequacy Proposals (Basel II), we analyse the effects of disclosure in the banking sector in a stylised setting of delegated portfolio management. We first consider the interaction between the shareholder and the manager of a bank - the manager has to...
Persistent link: https://www.econbiz.de/10011071198
We analyze the contracting structure in a moral hazard setting with several agents where output is produced jointly and is the only contractible variable. Since the salary of each agent is a function of all agents efforts, a positive externality arises between them. This externality is not...
Persistent link: https://www.econbiz.de/10010928768