76 resultados para moral hazard


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I study the institution of avoiding hiring one’s own Ph.D. graduates for assistant professorships. I argue that this institution is necessary to create better incentives for researchers to incorporate new information in studies, facilitating the convergence to asymptotic learning of the studied fundamentals.

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This paper studies disinflationary shocks in a non-linear New Keynesian model with search and matching frictions and moral hazard in the labor markets. Our focus is on understanding the wage formation process as well as welfare costs of disinflations in the presence of such labor market frictions.

The presence of imperfect information in labor markets imposes a lower bound on worker surplus that varies endogenously. Consequently equilibrium can take two forms depending on whether the no shirking condition is binding or not. We also evaluate both regimes from a welfare perspective when the economy is subject to a perfectly credible disinflationary shock.

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Cosmopolis is a concept that has a long history in many cultures around the globe. It is a mirroring of the 'social' and 'natural' worlds, such that in one is seen the order and the structures of the other -- a mutual 'mapping'. In this paper I examine how the presence of cosmopolis -- a Christianised cosmopolis of the European Middle Ages -- was made evident in the representation and formation of cities at that time. I reveal a dualism between the social and spatial ordering of both city and cosmos which defined and reinforced social and spatial boundaries in urban landscapes, evident for example in the 11th and 12th centuries. Recently, Toulmin (1992) has taken the idea of cosmopolis to argue that it has been a persistent presence in Western - Enlightenment science, philosophy, and religion -- a 'hidden agenda of modernity'. I contend that, as an idea, cosmopolis has a much earlier circulation in European thinking, not least in the Middle Ages. Locating cosmopolis in the medieval and the modern periods then begs a question of what is it that really makes the two distinct and separate? All too often human geographers have emphasised discontinuities between the 'medieval' and 'modern' age, locating the 'rise of modernity' some time in the Enlightenment period. However, what 'mapping' cosmopolis reveals are continuities, binding time and space together, which when looked at begin to help query the modernity concept itself.

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Although the theory of planned behaviour (TPB) has been applied successfully in the area of food choice, it has been criticized for its pure utilitarian approach to the factors determining behaviour. Despite the increase in predictive power of the model with added components such as affective attitude and moral and ethical concerns, in most studies the elicitation process still only addresses people's utilitarian beliefs about the behaviour with little attention paid to other aspects. This study compares the traditional method of elicitation of advantages and disadvantages with two other methods (word association and open-ended) in the elicitations of beliefs, attitudes and moral concerns in relation to the consumption of organic foods. Results show the traditional method to be best for eliciting cognitive beliefs, open-ended emotion task for eliciting emotional beliefs and open-ended beliefs task best for moral concerns. The advantages and disadvantages of each method are discussed.

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