infonet-economy

Uniform, risk-independent insurance premiums are accepted as part of ‘managed competition’ in health care. However, they are not compatible with optimality of health insurance contracts in the presence of both ex ante and ex post moral hazard. They have adverse effects on insurer behaviour even if risk adjustment is taken into account. Risk-based premiums combined with means-tested,...

Anhand einer Diskursanalyse (Potter & Wetherell, 1987) von 21 qualitativen Interviews mit Mitarbeitenden eines Schweizer Forschungsunternehmens (Nentwich, 2004) analysiere ich, wie die in einem ideologischen Dilemma (Billig et al., 1988) aufeinander bezogenen "Sprachspiele" (Wittgenstein, 1997) der Gleichheit und Differenz diskursiv im Interview konstruiert werden und...

In financing start-up firms, venture capitalists carefully select among alternative projects, design incentive compatible financial contracts and support portfolio companies with value enhancing managerial advice. This paper considers how venture capitalists can induce self-selection among entrepreneurial firms with different qualities by designing appropriate contracts and offering...

In this paper, we analyze the completed highest education degree of two birth cohorts (1934-1943 and 1964-1973) in Switzerland, using data from the 1999 wave of the Swiss Household Panel. As expected, the fraction of tertiary graduates has increased over time, for women more so than for men. Also, the educational attainment depends strongly on the educational attainment of parents....

We consider a closed economy where a risk neutral bank competes with a competitive bond market. Firms can finance a risky project either by a bank credit or by issuing a bond which is directly sold to risk averse investors who also hold safe deposits at the bank. We show that the bank tends to allocate more capital to lower quality projects but there are some interesting...