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  • ddc:330  (10)
  • Amsterdam and Rotterdam: Tinbergen Institute  (10)
  • Göttingen: Ibero-Amerika-Inst. für Wirtschaftsforschung
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  • 1
    Publication Date: 2016-04-21
    Description: A well-known rationale for representative democracy is that direct democracy leads to a free-rider problem as to the collection of information. A problem with this rationale is that it takes for granted that representatives collect information. In this paper we examine whether or not electoral competition induces political parties or candidates to collect information about policy consequences. We show that the answer to this question depends on the cost of information collection. More surprisingly, we find that endogenizing information may lead to divergence of policy platforms.
    Keywords: D72 ; ddc:330 ; information collection ; spatial voting models ; Politische Partei ; Informationsverhalten ; Informationsversorgung ; Ökonomische Theorie der Demokratie
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
    Type: doc-type:workingPaper
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  • 2
    Publication Date: 2018-04-19
    Description: We study the relative performance of the first-price sealed-bid auction and the second-price sealed-bid auction in a laboratory experiment where bidders can signal information through their bidding behavior to an outside observer. We consider two different information settings: the auctioneer reveals either the identity of the winning bidder only, or she also reveals the winner’s payment to an outside observer. We find that the first-price sealed-bid auction in which the winner’s payment is revealed outperforms the other mechanisms in terms of revenue and efficiency. Our findings may have implications for the design of charity auctions, art auctions, and spectrum auctions.
    Keywords: C92 ; D44 ; D82 ; ddc:330 ; Auctions ; Signaling ; Experiments
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 3
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    Amsterdam and Rotterdam: Tinbergen Institute
    Publication Date: 2016-08-31
    Description: This paper reports the results from a laboratory experiment investigating a manager's decision whether or not to delegate authority to a better informed worker whose interests are often, but not always, congruent. Keeping authority implies a loss of information, as the worker communicates his information strategically. Delegating authority leads to a loss of control. A key aspect of our design is that the manager can restrict the worker's choice set when delegating authority. We find that, in case of delegation, managers (as predicted) put tighter restrictions when interests are less aligned. Workers send more informative messages under communication than predicted by the pure strategy equilibria. This finding neither appears to be driven by lying aversion of workers nor by credulity of managers. Qualitatively, our results are in line with a mixed strategy equilibrium under communication, which strictly outperforms optimal restricted delegation and is relatively close to the optimal stochastic mechanism in our setting.
    Keywords: C90 ; D80 ; M20 ; ddc:330 ; Delegation ; Communication ; Laboratory Experiment ; Organizational Economics
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 4
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    Amsterdam and Rotterdam: Tinbergen Institute
    Publication Date: 2016-04-21
    Description: We develop a simple model that describes individuals’ self-assessments oftheir abilities. We assume that individuals learn about their abilities from appraisalsof others and experience. Our model predicts that if communicationis imperfect, then (i) appraisals of others tend to be too positive, and (ii) overconfidenceleading to too much activism is more likely than underconfidenceleading to too much passivity. The predictions of our model are consistentwith findings in the social psychological literature.
    Keywords: D81 ; D82 ; D83 ; ddc:330 ; self-assessments ; learning about ability ; coaching ; overconfidence ; underconfidence
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 5
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    Amsterdam and Rotterdam: Tinbergen Institute
    Publication Date: 2016-04-21
    Description: We identify the conditions under which voters can induce political parties to collect information and to select policies which are optimal from the representative voter’s point of view. We show that when parties are office motivated the voting rule should encourage parties to collect information. Voting rules that focus on the opposition party sometimes dominate voting rules that focus on the incumbent party. When parties are policy motivated, they also have to be motivated to select good policies. Generally, it is easier to stimulate policy motivated parties than office motivated parties to collect information. However, in contrast to office motivated parties, policy motivated parties will sometimes select policies that conflict with the representative voter’s interest.
    Keywords: D72 ; ddc:330 ; political competition ; information ; polarization. ; Politische Partei ; Informationsversorgung ; Neue politische Ökonomie ; Theorie
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 6
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    Amsterdam and Rotterdam: Tinbergen Institute
    Publication Date: 2016-04-21
    Description: Boards of directors face the twin task of disciplining and screening executives. To perform these tasks directors do not have detailed information about executives' behaviour, and only infrequently have information about the success or failure of initiated strategies, reorganizations, mergers etc. We analyse the nature of (implicit) retention contracts boards use to discipline and screen executives. Consistent with empirical observation, we find that executives may become overly active to show their credentials; that the link between bad performance and dismissal is weak; and that boards occasionally dismiss competent executives.
    Keywords: G30 ; G34 ; ddc:330 ; board of directors ; turnover ; retention contracts ; selection ; moral hazard ; empire building
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 7
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    Amsterdam and Rotterdam: Tinbergen Institute
    Publication Date: 2016-04-21
    Description: Using simple game-theoretical models, this paper studies the role of pre-determined rules for HRM policies. We consider a model in which HRM decisions affect employees' self-images and thereby their motivation. We show that in the absence of written rules, managers are too reluctant (1) to differentiate between employees on the basis of their abilities, and (2) to terminate employment of employees on probation. Generally, organizations benefit from committing to strict rules for various HRM practices.
    Keywords: M5 ; D82 ; D83 ; ddc:330 ; rules ; human resource management policies ; self-image ; motivation ; Personalmanagement ; Asymmetrische Information ; Leistungsmotivation ; Spieltheorie
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 8
    Publication Date: 2016-04-21
    Description: In this laboratory experiment we study the use of strategic ignorance to delegate real authority within a firm. A worker can gather information on investment projects, while a manager makes the implementation decision. The manager can monitor the worker. This allows her to better exploit the information gathered by the worker, but also reduces the worker's incentives to gather information in the first place. Both effects of monitoring are influenced by the interest alignment between manager and worker. Our data confirms the theoretical predictions that optimal monitoring depends non-monotonically on the level of interest alignment. We also find evidence for hidden costs of control and preferences for control, but these have no substantial effects on organizational outcomes.
    Keywords: D20 ; D40 ; D63 ; D82 ; J30 ; ddc:330 ; Delegation ; Real Authority ; Strategic Ignorance ; Kooperative Führung ; Autorität ; Asymmetrische Information ; Test
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 9
    Publication Date: 2019-10-31
    Description: Competition has been argued to erode socially responsible behavior in markets, suggesting that allowing cartel agreements among firms may promote public interest objectives. We test this idea in a laboratory experiment. Participants playing the role of firms choose between offering a ÔfairÕ and an ÔunfairÕ good to a consumer participant. When the unfair good is traded, a negative externality is imposed on a third party. We vary whether or not the firms are allowed to coordinate on the type of good they sell Ð while remaining in price competing. We find that the opportunity to coordinate leads to more coordinated equilibria, but has no significant impact on the fraction of fair goods traded on the market. Instead it polarizes: more of the same good, fair or unfair, is offered in coordination. Irrespective of whether quality coordination between firms is allowed, participants are more likely to trade the fair good, the stronger their third-party preferences are. These findings suggest that both consumer and managerial values are more important drivers of socially responsible behavior than opportunities for firms to coordinate their corporate social responsibility (CSR) activities. We highlight implications for competition policy, where cartels may be exempted on CSR grounds.
    Keywords: L41 ; C92 ; M14 ; ddc:330 ; Collusion ; Corporate social responsibility ; Public interest ; Laboratory experiment ; Competition policy
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 10
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    Amsterdam and Rotterdam: Tinbergen Institute
    Publication Date: 2018-11-27
    Description: Under-representation of women in high level positions is widespread and persistent. We analyze the consequences of labor market quotas for the wages of women in high level positions. The key point of our paper is that quotas cause asymmetric information about why women work in high level positions. Firms know why they have assigned their own female employees to high level positions, but do not know why women at other firms have been assigned to those positions. A winner’s curse, reducing competition for women in high level positions, results. This widens the gender pay gap. We show that ex ante women are better-off without quotas. Next, we investigate how quotas affect incentives for employers to learn the abilities of women to make better job-assignment decisions. Then, under specific conditions women may benefit from quotas.
    Keywords: D83 ; J22 ; ddc:330 ; labor market quota ; winner s curse ; screening
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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