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Max Planck Institute for Research on Collective Goods
(13 results)-
White Papers
Intellectual Property As A Carrot For Innovators: Using Game Theory To Show The Limits Of The Argument
February 1, 2007, 12:00am PST
Policymakers all over the world claim: No innovation without protection. For more than a century, critics have objected that the case for intellectual property is far from clear. This paper uses a...
Provided by Max Planck Institute for Research on Collective Goods
-
White Papers
Systemic Risk In The Financial Sector: An Analysis Of The Subprime-Mortgage Financial Crisis
November 1, 2008, 12:00am PDT
The paper analyses the causes of the current crisis of the global financial system, with particular emphasis on the systemic elements that turned the crisis of subprime mortgage-backed securities...
Provided by Max Planck Institute for Research on Collective Goods
-
White Papers
The Underpricing Of Initial Public Offerings In Imperial Germany, 1870-1896
December 1, 2008, 12:00am PST
In this paper, the authors evaluate under pricing of Initial Public Offerings (IPOs) at the Berlin Stock Exchange between 1870 and 1896. In contrast to modern data, first day returns were...
Provided by Max Planck Institute for Research on Collective Goods
-
White Papers
Entry And Incumbent Innovation
May 5, 2010, 12:00am PDT
The authors explore how the threat of entry influences the innovation activity of an incumbent. They show that the incumbent's investment is hump-shaped in the entry threat. When the entry threat...
Provided by Max Planck Institute for Research on Collective Goods
-
White Papers
Capital Regulation After The Crisis: Business As Usual?
July 1, 2010, 12:00am PDT
The paper discusses the reform of capital regulation of banks in the wake of the financial crisis of 2007/2009. Whereas the Basel Committee on Banking Supervision seems to go for marginal changes...
Provided by Max Planck Institute for Research on Collective Goods
-
White Papers
Public Ownership Of Banks And Economic Growth - The Role Of Heterogeneity
September 29, 2010, 12:00am PDT
In an influential paper, La Porta, Lopez-De-Silanes and Shleifer (2002) argued that public ownership of banks is associated with lower GDP growth. The authors show that this relationship does not...
Provided by Max Planck Institute for Research on Collective Goods
-
White Papers
Strategic Information Disclosure And Competition For An Imperfectly Protected Innovation
February 1, 2009, 12:00am PST
The imperfect appropriability of revenues from innovation affects the incentives of firms to invest, and to disclose information about their innovative productivity. It creates a free-rider effect...
Provided by Max Planck Institute for Research on Collective Goods
-
White Papers
The Impact Of Firm Entry Regulation On Long-Living Entrants
July 1, 2010, 12:00am PDT
What is the impact of firm entry regulation on sustained entry into self-employment? How does firm entry regulation influence the performance of long-living entrants? In this paper, the author...
Provided by Max Planck Institute for Research on Collective Goods
-
White Papers
On The Existence And Prevention Of Asset Price Bubbles
November 3, 2010, 12:00am PDT
The authors develop a model of rational bubbles based on the assumptions of unknown market liquidity and limited liability of traders. In a bubble, the price of an asset rises dynamically above...
Provided by Max Planck Institute for Research on Collective Goods
-
White Papers
Political Competition And Mirrleesian Income Taxation: A First Pass
November 10, 2010, 12:00am PST
The authors study Downsian competition in a Mirrleesian model of income taxation. The competing politicians may differ in competence. If politicians engage in vote-share maximization, the less...
Provided by Max Planck Institute for Research on Collective Goods
-
White Papers
Incentives For Process Innovation In A Collusive Duopoly
May 1, 2007, 12:00am PDT
Two suppliers of a homogenous good know that, in the second period, they will be able to collude. Gains from collusion are split according to the Nash bargaining solution. In the first period,...
Provided by Max Planck Institute for Research on Collective Goods
-
White Papers
Incentives And Innovation? R&D Management In Germany~s High-Tech Industries During The Second Industrial Revolution
October 1, 2008, 12:00am PDT
The allocation of intellectual property rights between firms and employed researchers causes a principal-agent problem between the two parties. The authors investigate the working contracts of...
Provided by Max Planck Institute for Research on Collective Goods
-
White Papers
Optimal Income Taxation, Public Goods Provision And Robust Mechanism Design
August 4, 2008, 12:00am PDT
This paper extends the model of optimal income taxation due to Mirrlees (1971) and includes private information on public goods preferences. A mechanism design approach is used to establish the...
Provided by Max Planck Institute for Research on Collective Goods
-
White Papers
Optimal Income Taxation, Public Goods Provision And Robust Mechanism Design
August 4, 2008, 12:00am PDT
This paper extends the model of optimal income taxation due to Mirrlees (1971) and includes private information on public goods preferences. A mechanism design approach is used to establish the...
Provided by Max Planck Institute for Research on Collective Goods
-
White Papers
Incentives And Innovation? R&D Management In Germany~s High-Tech Industries During The Second Industrial Revolution
October 1, 2008, 12:00am PDT
The allocation of intellectual property rights between firms and employed researchers causes a principal-agent problem between the two parties. The authors investigate the working contracts of...
Provided by Max Planck Institute for Research on Collective Goods
-
White Papers
Incentives For Process Innovation In A Collusive Duopoly
May 1, 2007, 12:00am PDT
Two suppliers of a homogenous good know that, in the second period, they will be able to collude. Gains from collusion are split according to the Nash bargaining solution. In the first period,...
Provided by Max Planck Institute for Research on Collective Goods
-
White Papers
Political Competition And Mirrleesian Income Taxation: A First Pass
November 10, 2010, 12:00am PST
The authors study Downsian competition in a Mirrleesian model of income taxation. The competing politicians may differ in competence. If politicians engage in vote-share maximization, the less...
Provided by Max Planck Institute for Research on Collective Goods
-
White Papers
On The Existence And Prevention Of Asset Price Bubbles
November 3, 2010, 12:00am PDT
The authors develop a model of rational bubbles based on the assumptions of unknown market liquidity and limited liability of traders. In a bubble, the price of an asset rises dynamically above...
Provided by Max Planck Institute for Research on Collective Goods
-
White Papers
The Impact Of Firm Entry Regulation On Long-Living Entrants
July 1, 2010, 12:00am PDT
What is the impact of firm entry regulation on sustained entry into self-employment? How does firm entry regulation influence the performance of long-living entrants? In this paper, the author...
Provided by Max Planck Institute for Research on Collective Goods
-
White Papers
Strategic Information Disclosure And Competition For An Imperfectly Protected Innovation
February 1, 2009, 12:00am PST
The imperfect appropriability of revenues from innovation affects the incentives of firms to invest, and to disclose information about their innovative productivity. It creates a free-rider effect...
Provided by Max Planck Institute for Research on Collective Goods
-
White Papers
Public Ownership Of Banks And Economic Growth - The Role Of Heterogeneity
September 29, 2010, 12:00am PDT
In an influential paper, La Porta, Lopez-De-Silanes and Shleifer (2002) argued that public ownership of banks is associated with lower GDP growth. The authors show that this relationship does not...
Provided by Max Planck Institute for Research on Collective Goods
-
White Papers
Capital Regulation After The Crisis: Business As Usual?
July 1, 2010, 12:00am PDT
The paper discusses the reform of capital regulation of banks in the wake of the financial crisis of 2007/2009. Whereas the Basel Committee on Banking Supervision seems to go for marginal changes...
Provided by Max Planck Institute for Research on Collective Goods
-
White Papers
Entry And Incumbent Innovation
May 5, 2010, 12:00am PDT
The authors explore how the threat of entry influences the innovation activity of an incumbent. They show that the incumbent's investment is hump-shaped in the entry threat. When the entry threat...
Provided by Max Planck Institute for Research on Collective Goods
-
White Papers
The Underpricing Of Initial Public Offerings In Imperial Germany, 1870-1896
December 1, 2008, 12:00am PST
In this paper, the authors evaluate under pricing of Initial Public Offerings (IPOs) at the Berlin Stock Exchange between 1870 and 1896. In contrast to modern data, first day returns were...
Provided by Max Planck Institute for Research on Collective Goods
-
White Papers
Systemic Risk In The Financial Sector: An Analysis Of The Subprime-Mortgage Financial Crisis
November 1, 2008, 12:00am PDT
The paper analyses the causes of the current crisis of the global financial system, with particular emphasis on the systemic elements that turned the crisis of subprime mortgage-backed securities...
Provided by Max Planck Institute for Research on Collective Goods
-
White Papers
Intellectual Property As A Carrot For Innovators: Using Game Theory To Show The Limits Of The Argument
February 1, 2007, 12:00am PST
Policymakers all over the world claim: No innovation without protection. For more than a century, critics have objected that the case for intellectual property is far from clear. This paper uses a...
Provided by Max Planck Institute for Research on Collective Goods
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