Magnus Hoffmann

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If property rights to consumption goods are insecure, the incentives to trade in a barter economy are reshaped. In a pure exchange economy, we examine the case where two contestable consumption goods are vital to two agents and initial endowments follow a binary distribution. In line with the existing literature, we examine in a two–stage game how the(More)
4 Abstract 5 This paper examines simultaneous versus sequential choice of effort in a two-6 player contest with a general contest success function. The timing of moves, 7 determined in a preplay stage prior to the contest-subgame, as well as the 8 value of the prize is allowed to be endogenous. Contrary to endogenous timing 9 models with an exogenously(More)
Employment protection affects labour market outcomes and hence the incentive to acquire skills. Using a matching model with two education levels in which workers decide ex-ante on their skill formation, it is shown that employment protection can raise the fraction of skilled workers. This will be the case if workers obtain a sufficiently large fraction of(More)
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