This paper analyzes how group lending programs use joint liability to utilize localinformation that borrowers have about each other’s projects through self-selection of groupmembers in the group formation stage. These schemes are shown to lead to positiveassortative matching in group...

We consider optimal trade policy for a large country with private information. We show that the optimal tariff leads to a signaling equilibrium with higher tariffs and lower welfare than under complete information, whereas the optimal import quota replicates the complete information equilibrium...

Das Institut für Zukunftsstudien und Technologiebewertung (IZT) und der BundesverbandInformationswirtschaft, Telekommunikation und neue Medien (BITKOM) führteneine Umfrage zur Bedeutung des Nachhaltigkeits-Leitbildes für die Informations- undTelekommunikationswirtschaft (ITK-Wirtschaft)...

Sustainability ratings help consumers understand the environmental impact of their purchases. Such ratings have increased the consumers' sustainable choices in the electrodomestics and housing markets. In the particular case of energy labels, sustainable products are also associated with private...