Showing 1 - 10 of 13,386
This paper develops identification and estimation methods for dynamic structural models when agents' actions are unobserved by econometricians. We provide conditions under which choice probabilities and latent state transition rules are nonparametrically identified with a continuous state...
Persistent link: https://www.econbiz.de/10012271085
Empirical literature on moral hazard focuses exclusively on the direct impact of asymmetric information on market outcomes, thus ignoring possible repercussions. We present a field experiment in which we consider a phenomenon that we call second-degree moral hazard – the tendency of the supply...
Persistent link: https://www.econbiz.de/10013061956
Empirical literature on moral hazard focuses exclusively on the direct impact of asymmetric information on market outcomes, thus ignoring possible repercussions. We present a field experiment in which we consider a phenomenon that we call second-degree moral hazard – the tendency of the supply...
Persistent link: https://www.econbiz.de/10013315697
Persistent link: https://www.econbiz.de/10000991102
Persistent link: https://www.econbiz.de/10011665465
attraction effects when choices are made across categories. Using the standard second-degree price discrimination model, the …
Persistent link: https://www.econbiz.de/10010224767
As an industry that thrives on - rather than succumbs to - adversity, the couture corporate world demands innovation and encourages risks. When combined with successful marketing and savvy business practices, these risks can result in large payoffs, which exist, primarily, due to the nature of...
Persistent link: https://www.econbiz.de/10012979020
Persistent link: https://www.econbiz.de/10015410321
We consider an exchange economy with time-inconsistent consumers whose preferences are additively separable. When these consumers trade in a sequence of markets, their time-inconsistency may introduce a non-convexity that gives them an incentive to trade lotteries. If there are many consumers,...
Persistent link: https://www.econbiz.de/10012771131
Given potential abuse, conflicts of interest, and other issues, why do companies routinely pay for their managers to entertain the managers of other firms and allow their own managers to be so entertained? An answer that such practices facilitate inter-firm cooperation is incomplete because it...
Persistent link: https://www.econbiz.de/10013049524