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作者：Cao, Ping; Sun, Peng; Tian, Feng
作者单位：Chinese Academy of Sciences; University of Science & Technology of China, CAS; Duke University; University of Hong Kong
摘要：This paper studies a dynamic principal-agent setting in which the principal needs to dynamically schedule an agent to work or be suspended. When the agent is directed to work and exert effort, the arrival rate of a Poisson process is increased, which increases the principal's payoff. Suspension, on the other hand, serves as a threat to the agent by delaying future payments. A key feature of our setting is a switching cost whenever the suspension stops and the work starts again. We formulate th...
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作者：Dlugosz, Jennifer; Gam, Yong Kyu; Gopalan, Radhakrishnan; Skrastins, Janis
作者单位：Federal Reserve System - USA; Federal Reserve System Board of Governors; University College Dublin; Washington University (WUSTL)
摘要：Using natural disasters as shocks to local economies, we document that a bank branch's ability to set deposit rates locally has real effects. Following disasters, branches with rates set locally increase deposit rates more and experience higher deposit volumes in affected counties. Consistent with imperfect insurance from internal capital markets, banks with more branches setting rates locally relatively expand mortgage lending in affected counties. House prices recover faster in local areas w...
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作者：Avoyan, Ala; Ribeiro, Mauricio; Schotter, Andrew; Schotter, Elizabeth R.; Vaziri, Mehrdad; Zou, Minghao
作者单位：Indiana University System; Indiana University Bloomington; University of Bristol; New York University; State University System of Florida; University of South Florida; State University System of Florida; University of South Florida; Princeton University
摘要：People often need to plan how to allocate their attention across different tasks. In this paper, we run two experiments to study a stylized version of this attention-allocation problem between strategic tasks. More specifically, we present subjects with pairs of 2 x 2 games, and for each pair, we give them 10 seconds to decide how they would split a fixed time budget between the two games. Then, subjects play both games without time constraints, and we use eye-tracking to estimate the fraction...
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作者：Fangwa, Anicet A.; Flammer, Caroline; Huysentruyt, Marieke; Quelin, Bertrand V.
作者单位：McGill University; Columbia University; Columbia University; European Corporate Governance Institute
摘要：Substantial funding is provided to the healthcare systems of low-income countries. However, an important challenge is to ensure that this funding is used efficiently. This challenge is complicated by the fact that a large share of healthcare services in lowincome countries is provided by nonprofit health centers that often lack (i) effective governance structures and (ii) organizational know-how and adequate training. In this paper, we argue that the bundling of performance-based incentives wi...
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作者：Beer, Ruth; Qi, Anyan
作者单位：City University of New York (CUNY) System; Baruch College (CUNY); University of Texas System; University of Texas Dallas
摘要：Interfirm innovation projects often require tight collaboration among firms with complementary skills and resources. The success of such projects depends on all firms generating high-quality outputs, which can be difficult to attain for aspects of quality that are not easily observable or contractible. We consider a setting with a focal firm and its collaborating firm (henceforth, the collaborator) engaging in a joint project, in which they make their quality decisions over time, respectively,...
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作者：Girma, Sourafel; Paton, David
作者单位：University of Nottingham; University of Nottingham
摘要：Laws mandating vaccination against Covid-19 as a condition of employment in health and care sectors were commonplace during the pandemic. Using weekly data at the local authority level, we examine the impact of the vaccine mandate for elderly care homes in England on vaccine take-up, staffing levels, and mortality. Our identification strategy involves (1) comparing take-up and staffing in English elderly care homes relative to other social care settings unaffected by the mandate; (2) comparing...
