The collapse of so many AAA-rated structured finance products in 2007-2008 has brought renewed attention to the causes of ratings failures and the conflicts of interest in the Credit Ratings Industry. We provide a model of competition among Credit Ratings Agencies (CRAs) in which there are three...

Re-licensing requirements for professionals that move across borders are widespread. In this paper, we measure the returns to an occupational license using novel data on Soviet trained physicians that immigrated to Israel. An immigrant re-training assignment rule used by the Israel Ministry of...

We present a leverage theory of reputation building with co-branding. We show that under certain conditions, co-branding that links unknown firms in a new sector with established firms in a mature sector allows the unknown firms to signal a high product quality and establish their own...

This article analyses the impact of the reference price system on the price-setting strategies of the pharmaceutical firms and on the level of generic usage. This model is the first to take explicitly into account the impact of the reference price mechanism on the level of competition between...

The adoption and diffusion of inputs in the production network is at the heart of technological progress. What determines which inputs are initially considered and eventually adopted by innovators? We examine the evolution of input linkages from a network perspective, starting from a stylized...

We propose a stylized model of a problem-solving organization whose internal communication structure is given by a fixed network. Problems arrive randomly anywhere in this network and must find their way to their respective “specialized solvers” by relying on local information alone. The...

PRECON S.A is a manufacturing company dedicated to produce prefabricated concrete parts to several industries as rail transportation and agricultural industries.Recently, PRECON signed a contract with RENFE, the Spanish Nnational Rail Transportation Company to manufacture pre-stressed concrete...

El objetivo de este trabajo es discutir y analizar el concepto de la responsabilidad social corporativa (RSC) desde la teoria económica. Para ello usamos un modelo sencillo que nos permite clarificar algunos aspectos del debate que rodea la RSC. Observamos como la motivación subyacente en las...

El objetivo de este trabajo es discutir y analizar el concepto de la responsabilidad social corporativa (RSC) desde la teoria económica. Para ello usamos un modelo sencillo que nos permite clarificar algunos aspectos del debate que rodea la RSC. Observamos como la motivación subyacente en las...

We analyze the rise of the first socio-economic institution in history that limited fertility – long before the Demographic Transition. The "European Marriage Pattern" (EMP) raised the marriage age of women and ensured that many remained celibate, thereby reducing childbirths by up to one...