Browsing MWP Working Papers by Subject "D82"

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Browsing MWP Working Papers by Subject "D82"

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    Title: Continuous-time contracting with ambiguous information  Author(s): DUMAV, Martin; RIEDEL, Frank Date: 2014 Type of Publication: Working Paper Series/Report no.: EUI MWP; 2014/16 Abstract: This study examines the contracting problem in continuous time with ambiguous information. A problem of this nature arises, for example, in an employment relationship where there is limited knowledge, or ambiguity, about ...
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    Title: Pundits and quacks : financial experts and market feedback  Author(s): RUDIGER, Jesper; VIGIER, Adrien Date: 2014 Type of Publication: Working Paper Series/Report no.: EUI MWP; 2014/22 Abstract: By choosing whether or not to follow a financial expert’s advice, a privately informed trader implicitly screens the ability of this expert. We explore the performance of the resulting feedback mechanism. In the medium ...
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    Title: Cross-checking the media  Author(s): RUDIGER, Jesper Date: 2013 Type of Publication: Working Paper Series/Report no.: EUI MWP; 2013/17 Abstract: A characteristic of the news market is that consumers often cross-check information, i.e. observe several news outlets. At the same time, data on political media suggest that more partisan consumers are more likely to ...
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    Title: Efficiency, equity, and optimal income taxation  Author(s): BRENDON, Charles Date: 2013 Type of Publication: Working Paper Series/Report no.: EUI MWP; 2013/22 Abstract: Social insurance schemes must resolve a trade-off between competing efficiency and equity considerations. Yet there are few direct statements of this trade-off that could be used for practical policymaking. To this end, ...
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    Title: Financial Markets as a Commitment Device for the Government  Author(s): SIMON, Jenny Date: 2012 Type of Publication: Working Paper Series/Report no.: EUI MWP; 2012/12 Abstract: How does the presence of financial markets shape the government's ability to implement social redistribution? Individuals do not typically constrain consumption to equal their net-of-tax income every period. Instead, access ...
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    Title: Optimal Debt Bias in Corporate Income Taxation  Author(s): SIMON, Jenny Date: 2012 Type of Publication: Working Paper Series/Report no.: EUI MWP; 2012/13 Abstract: I present a rationale for a government to discriminate between debt and equity financing when taxing corporate income. For risk-averse entrepreneurs, equity generates more surplus than debt, because it provides financing ...
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    Title: Credibilty Concerns in Optimal Policy Design  Author(s): LU, Yang K. Date: 2010 Type of Publication: Working Paper Series/Report no.: EUI MWP; 2010/16 Abstract: This paper provides a transparent framework for thinking about optimal investment in reputation by a trustworthy government. This topic has been neglected by the existing literature on reputation games but is potentially ...
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    Title: Inventors and Impostors: an Economic Analysis of Patent Examination  Author(s): SCHUETT, Florian Date: 2009 Type of Publication: Working Paper Series/Report no.: EUI MWP; 2009/15 Abstract: The objective of patent examination is to separate the wheat from the chaff. Good applications – those satisfying the patentability criteria, particularly novelty and non-obviousness – should be accepted, while bad ...
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    Title: Inventors and Impostors: An Economic Analysis of Patent Examination  Author(s): SCHUETT, Florian Date: 2009 Type of Publication: Working Paper Series/Report no.: EUI ECO; 2009/28 Abstract: The objective of patent examination is to separate the wheat from the chaff. Good applications - those satisfying the patentability criteria, particularly novelty and nonobviousness - should be accepted, while bad applications ...