Some recent health economics papers suggest that increasing wage in the nursing labor market with the aim of reducing shortage may yield a negative effect on the average productivity and/or the average motivation of applicants attracted. Some feminist economics papers criticize this inefficiency...

We consider an economy made up by two industrial sectors. Sector A produces a good. Sector B supplies a social service. Each industry is characterized by a Hotelling-type linear segment where two firms are located at the extremes. We compare two different economic systems. A market economy where...

In this paper we study optimal choices of self-selection into politics and commitment once in office of citizens with heterogeneous ability and heterogeneous motivation. Politicians can moonlight, i.e., they can work in the market sector while appointed in parliament. Our theoretical framework...

How do wage and other financial benefits affect the set of candidates for political office? We answer the question by studying self-selection into politics of individuals with heterogeneous skills and heterogeneous motivations. Our predictions are in line with the efficiency wage results...

<title>Abstract</title> We develop a theoretical framework, based on a moneylender--firm relationship with moral hazard, to investigate whether enterprise capital structure differs between for-profit and nonprofit sectors. The nondistribution constraint of the nonprofit organizations increases the fraction of...

We consider a start-up firm which applies for a bank loan to implement a project based on complementary activities. The firm has the possibility to improve the complementarity effect by coordinating the activities. Coordination is costly and can be made either by using internal human resources...

Under the principle of the Failing Firm Defense (FFD) a merger that would be blocked due to its harmful effect on competition could be nevertheless allowed when (i) the acquired firm is actually failing, (ii) there is no less anti-competitive alternative purchase, (iii) absent the merger, the...

In this paper we consider a moral hazard problem between a creditworthy firm which needs funding and a bank. We first study under which conditions the firm does not obtain the loan. We then determine whether and how the intervention of an external financial institution can facilitate the access...

Does management consulting facilitate the access to credit for start-ups? This paper tries to answer the question by developing a theoretical framework where a firm applies for a bank loan to implement a risky project. The probability of success increases if the firm exerts a costly managerial...

How do wage and other financial benefits affect the set of candidates for political office? In this theoretical paper, we answer the question by studying self-selection into politics of individuals with heterogeneous skills and heterogeneous motivations. Our predictions are in line with the...