Optimal retention in agency problems

Article Abstract:

A single long-lived principal can influence the behavior of a short-lived agent only through the agent's choice of a retention rule. The productivity of retained agents decreases over time. However, due to the selection process, retained agents' productivity is more prolific that untried agents' productivity. Furthermore, retained agents are more prolific producers than other types due to adverse selection .

Economic Statistics & Research, Economics, Economic conditions, Agency (Law)

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The effects of periodic quotas limiting the stock of imports of durables

Article Abstract:

An analysis of cases of trade quotas shows that the flow of non-durable goods is restricted by trade quotas while the stock of durable imports is restricted by the real world quotas. Price as an indicator of tightness induced by the quota is shown as an inappropriate indicator and alternatives are given.

Imports, Export Controls, Quotas & Import Controls, Durable goods, Import quotas, Government export policy and export regulation, Immigration quota

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