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Competition as an AmbiguousDiscovery Procedure: A Reappraisal ofHayek’s Epistemic Market Liberalism
Witt, Ulrich - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2011
Epistemic arguments play a significant role in Hayek’s defense of market liberalism. Hisclaim that market competition is a discovery procedure that serves the common good is acase in point. The hypothesis of the markets’ efficient use of existing knowledge issupplemented by the idea that...
Persistent link: https://www.econbiz.de/10009138586
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Will imitators follow pioneer consumers in the adoption of solar thermal systems? Empirical evidence for North-West Germany
Wörsdorfer, Julia Sophie; Kaus, Wolfhard - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2010
In Germany, solar thermal systems (STS) have only diused to a minor extentyet. This paper analyzes, which demand side factors are decisive for thefurther proliferation of this environmentally benign technology. Making use ofa consumer survey in North-West Germany in 2007, we examine the...
Persistent link: https://www.econbiz.de/10009138626
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Dynamic Efficiency of EmissionTrading Markets: An ExperimentalStudy
Nicklisch, Andreas; Zucchini, Leon - Max-Planck-Institut für Ökonomik <Jena> - Abteilung …
This study investigates the dynamic efficiency of an emissionregulation regime where companies competitively pay for emissionlicences. We embed the emission licence market in a Cournotmodel where the price of emission licences is subject to strategictradeoff between licences and abatement...
Persistent link: https://www.econbiz.de/10005866945
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Clean technology adoption and its influenceon tradeable emission permit prices
Sanin, María Eugenia; Zanaj, Skerdilajda - Center for Operations Research and Econometrics … - 2009
In this paper we give an example in which the price of tradeable emission permits increasesdespite firms' adoption of a less polluting technology. This is in contrast with Montero (2002) andParry (1998), among others. If two Counot players switch to a cleaner technology, the price forpermits may...
Persistent link: https://www.econbiz.de/10005868648
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Environmental innovation under Cournot competition
Sanin, María Eugenia; Zanaj, Skerdilajda - Center for Operations Research and Econometrics … - 2007
In this paper, we address the incentives to invest in environmental innovation of enterprisesthat exercise market power in the output market and also buy and sell pollution permits.Differently from the existing literature, using a market approach we explicitly model theinteraction between the...
Persistent link: https://www.econbiz.de/10005868820
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The Value of Autonomy : Evidence from the Self-Employed in 23 Countries
Benz, Matthias; Frey, Bruno S. - 2003
The self-employed are substantially more satisfied with their work than employed persons. We document this relationship for 23 countries and show that the higher job satisfaction can directly be attributed to the greater autonomy that self-employed persons enjoy....
Persistent link: https://www.econbiz.de/10005846377
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Being Independent is a Great Thing:Subjective Evaluations of Self-Employment and Hierarchy
Frey, Bruno S.; Benz, Matthias - 2003
One can be independent, or subject to decisions made by others. This paper empirically tests whether individuals attach an intrinsic value to the institutional difference between independence and hierarchy ...
Persistent link: https://www.econbiz.de/10005846391
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Team Management and Mutual Funds
Bär, Michaela; Kempf, Alexander; Ruenzi, Stefan - 2005
Verhalten des Fondsmanagement hat sowie 3. die Konsequenzen, die sich hieraus für die Performance und die Mittelzuflüsse von … Einzel-Managern geführte Fonds und passen ihr Risiko in geringerem Maße abhängig von ihrer bisherigen Performance an. In … Diversifikationseffekt bei der Meinungsbildung in Teams hin, der zu einer höheren Kontinuität im Management führt.<li>Performance und …
Persistent link: https://www.econbiz.de/10005854141
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Relational Contracts and Inequity Aversion
Kragl, Jenny; Schmid, Julia - Sonderforschungsbereich Ökonomisches Risiko <Berlin> - 2006
agents. Performance is evaluated via an observable, but non-contractible signal which reflects the agent's individual …
Persistent link: https://www.econbiz.de/10005857794
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Relational Contracts and Job Design
Schöttner, Anja - 2006
and imperfect performance measure for three tasks whose contribution to firm value is non-verifiable. The tasks can be …, broad task assignments are optimal when the performance measure strongly distorts incentives for the two-task job. This is …
Persistent link: https://www.econbiz.de/10005857927