This paper develops a competitive equilibrium model of CEO compensation and industry dynamics. CEOs make product pricing and product improvement decisions subject to shareholders’ compensation choices and idiosyncratic shocks to product quality. The choice of highpowered incentives optimally trades-o¤ the bene…ts from expected product improvements and the associated agency costs. In market equi...

Contract Violations, Neighborhood Effects, and Wage Arrears in Russia We present a model of neighborhood effects in wage payment delays. Positive feedback arises because each employer’s arrears affect the late payment costs faced by other firms in the same local labor market, resulting in a strategic complementarity in the practice. The model is estimated on panel data for workers and firms in ...

despite providing robustness, high-gain observers impose a peaking phenomenon, which may cause instability, on the system states. in this paper, an adaptive saturation is proposed to attenuate the undesirable mentioned phenomenon in high-gain observers. a real-valued and differentiable sigmoid function is considered as the saturating element whose parameters (height and slope) are adaptively tu...

In this paper, we study the local stabilization of nonlinear systems with uncertain equilibrium states and in presence actuator constraints. We propose a derivative feedback control scheme to stabilize system, drive system its true state even when location such is uncertain. Actuator constraints are also considered stability conditions derived for cases output energy bounded, subject saturation...

Average public feedback scores given to sellers have increased strongly over time in an online marketplace. Changes in marketplace composition or improved seller performance cannot fully explain this trend. We propose that two factors inflated reputations: (1) it costs more to give bad feedback than good feedback when feedback is public because buyers fear retaliation and (2) this cost is incre...

Average public feedback scores given to sellers have increased strongly over time in an online labor market. Changes in marketplace composition or improved seller performance cannot fully explain this trend. We propose that two factors inflated reputations: (1) it costs more to give bad feedback than good feedback and (2) this cost to raters is increasing in the cost to sellers from bad feedbac...

This work presents the temperature control of a nonlinear batch reactor with constrains in the manipulated variable by means of adaptive feedback-based iterative learning control (ILC). The strong nonlinearities together with the constrains of the plant can lead to a non-monotonic convergence of the l2-norm of the error, and still worse, an unstable equilibrium signal e∞(t) can be reached. By n...