Directory UMM :Data Elmu:jurnal:I:International Review of Law and Economics:Vol19.Issue2.Jun1999:
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When the liability rule cannot depend on care choices and the liability limit is in a plausible range—neither too tight nor too loose relative to expected accident damages—an
This paper has combined the standard asymmetric information model of litigation and settlement with techniques from the self-selection literature to derive the conditions under which
This threshold damage policy creates stronger incentives for care than does a policy that requires the solvent producer to compensate victims exactly for the damages they suffer..
Accord- ingly, in this plausible case, where the expected return on high-risk loans declines more rapidly with aggregate loan volume than does the equilibrium return on low- risk
23 In 1992, newly efficient management correctly focused on overall efficiency, but also gave particular attention to input variables, especially cash, labor expense, real capital
Out of the thirteen bilateral exchange rates, evidence of PPP is found for only one (the Mexican peso/U.S. dollar rate) under traditional tests for unit roots, while seven of
Taking the loan market setting with asymmetric information as a micro-foundation for investment, this paper further develops a macro model of a small open economy under the regime
These results seem to indicate that, while estimation of ruin probabilities may be more efficient using importance sampling, especially for larger values of u , this is not the
