We present in this paper, different contexts under which pooling equilibria emerge in insurance economics. A pooling equilibrium may emerge when it is not optimal (or not feasible or not allowed) to offer different contracts to different agents. As a result, agents with different risk types are...
pooling equilibriumseparating equilibriumcoinsurancedeductiblestop-lossFinally, I turn to the distributional aspects of medical care. Longstanding norms support at ... DM Cutler - Elsevier B.V. 被引量: 38发表: 2002年 Dynamic pricing and compensation on heterogeneous sales forces pooling, semi-separating...
We set up a general equilibrium model with heterogeneous firms to study the interaction between wage bargaining and foreign direct investment. Thereby, we ... Carsten,Eckel,and,... - 《Journal of International Economics》 被引量: 155发表: 2009年 Labor Market Institutions and Global Strategic Adap...
where in solving the model we impose the terminal condition that \(\Delta bf=0\) to find the equilibrium real exchange rate. The real exchange rate is defined as: $${q}_{t}=\frac{{Q}_{t}{P}_{h,t}^{*}}{{P}_{h,t}}$$ (20) The real interest rate is calculated by the...
Common Property RightsRisk-PoolingSpacial VariabilityDynamic ProgrammingAs weather patterns across the globe change in response to global warming, we should expect more strain on existing institutions. This paper demonstrates how weather risk induces farmers into a risk-pooling equilibrium whereby private ...
In the law and economics framework of Ayres and Mitts, the statutes promote a "pooling" rather than a "separating" equilibrium. In purely financial or commercial settings, this sort of forcing may not be inappropriate, and may in fact be constitutionally necessary. However, with very few ...
Consider a partial equilibrium model with two differentiated goods, each produced by a different firm. These goods are sold in a common and perfectly integrated market. We also assume different locations, each constituting a separate local labour market. These labour markets are completely segmented ...
Then, it analyzes the stability of Nash equilibrium points by using the Jacobian matrix. The parameters x, y indicate the proportions of passengers and drivers choosing PUDO strategy, and z means the probability of carpooling platforms offering subsidies for passengers and drivers. \(\pi _{mn}\...
S Krishnamurthy - 《Research in Experimental Economics》 被引量: 32发表: 2001年 Provision of a public good with altruistic overlapping generations and many tribes Intergenerational altruism and contemporaneous cooperation are both important to the provision of long-lived public goods. Equilibrium climate ...
pooling equilibriumcontract theoryWe present in this paper, different contexts under which pooling equilibria emerge in insurance economics. A pooling equilibrium may emerge when it is not optimal (or not feasible or not allowed) to offer different contracts to different agents. As a result, agents...