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We introduce a simple game-theoretical model that captures the main aspects of the repeated interaction between an issuer and a credit rating agency. The scenario is characterized by up-front payments of issuer-fees and regulatory sanctions for false rating. We chose parameters such that in the...
Persistent link: https://www.econbiz.de/10011528061
We introduce a simple game-theoretical model that captures the main aspects of the repeated interaction between an issuer and a credit-rating agency. It involves up-front payments of issuer-fees and direct publication of requested ratings. Due to pecuniary injuries for untruthful ratings, the...
Persistent link: https://www.econbiz.de/10011579613
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This paper experimentally tests the relation between subjects' competitiveness and bargaining behavior. Bargaining is investigated in a demand-ultimatum game, where the responder can request a share of the pie from the proposer. The results show that highly competitive proposers earn less, since...
Persistent link: https://www.econbiz.de/10011801877
Pay-for-performance attempts to tie physician payment to quality of care. In a controlled laboratory experiment, we investigate the effect of pay-for-performance on physician provision behavior and patient benefit. For that purpose, we compare a traditional fee-for-service payment system to a...
Persistent link: https://www.econbiz.de/10010429135
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This paper experimentally tests the relation between subjects' competitiveness and bargaining behavior. Bargaining is investigated in a demand-ultimatum game, where the responder can request a share of the pie from the proposer. The results show that highly competitive proposers earn less, since...
Persistent link: https://www.econbiz.de/10011801889
This dissertation extends the understanding of asymmetric group behavior in the provision of public goods. Previous studies, using an asymmetric framework, have so far focused on situations where all players profit form the social optimum. The discussion in the first paper breaks with this...
Persistent link: https://www.econbiz.de/10011557920