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作者：Akiyama, Eizo; Hanaki, Nobuyuki; Ishikawa, Ryuichiro
作者单位：University of Tsukuba; Centre National de la Recherche Scientifique (CNRS); Universite Cote d'Azur
摘要：To what extent is the observed mispricing in experimental asset markets caused by strategic uncertainty and by confusion? We address this question by comparing subjects' initial price forecasts in two market environments: one with six human traders and the other with one human and five computer traders. We find that both strategic uncertainty and confusion contribute equally to the median initial forecast deviation from the fundamental value. The effect of strategic uncertainty is greater for ...
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作者：Muller, Laurent; Lacroix, Anne; Lusk, Jayson L.; Ruffieux, Bernard
作者单位：INRAE; Oklahoma State University System; Oklahoma State University - Stillwater; Communaute Universite Grenoble Alpes; Universite Grenoble Alpes (UGA); Communaute Universite Grenoble Alpes; Institut National Polytechnique de Grenoble
摘要：We conducted an experiment to study the fiscal impacts of unhealthy food taxes and healthy food subsidies on very low and medium income women in France. The policies tend to be regressive and favour higher income consumers. Unhealthy food taxes increase prices paid more for lower than higher income women. Healthy food subsidies reduce the prices paid more for higher than lower income women. The effects arise because the pre-policy diets of the higher income women tend to be healthier but also ...
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作者：Fevang, Elisabeth; Hardoy, Ines; Roed, Knut
摘要：We investigate the impacts of economic incentives on the duration and outcome of temporary disability insurance (TDI) spells. The analysis is based on a large quasi-experiment taking place in Norway, involving a complete overhaul of the TDI benefit system. Our findings show that the labour supply of TDI claimants does respond to both the benefit level and the level of local labour demand. The estimated elasticity of the transition rate to employment with respect to the benefit level is -0.33. ...
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作者：Save-Soderbergh, Jenny; Lindquist, Gabriella Sjogren
作者单位：Stockholm University
摘要：Using unique panel data, we compare the cognitive performance and wagering behaviour of children (10-11 years) with that of adults playing the Swedish version of the TV shows Jeopardy and Junior Jeopardy. Although facing the same well known high-stakes game, and controlling for performance differences, there is no gender gap in risk taking between girls and boys in contrast to adults; while girls assume more risk than women, boys assume less risk than men. We also find that female behaviour is...
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作者：Andersen, Torben M.; Bhattacharya, Joydeep
作者单位：Aarhus University; Center for Economic & Policy Research (CEPR); Leibniz Association; Ifo Institut; IZA Institute Labor Economics; Iowa State University; Iowa State University
摘要：This article develops a theory of the two-armed intergenerational welfare state, consistent with key features of modern welfare arrangements, and uses it to rationalise the rise and fall in generosity of Pay-as-you-go Pensions solely on efficiency grounds. By using the education arm, a dynamically-efficient welfare state is shown to improve upon long-run laissez faire even when market failures are absent. To release these downstream welfare gains without hurting any transitional generation, he...
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作者：Cervellati, Matteo; Sunde, Uwe; Valmori, Simona
作者单位：University of Munich; University of Bologna; IZA Institute Labor Economics; Leibniz Association; Ifo Institut; Centre for Economic Policy Research - UK
摘要：This article documents a statistically strong and quantitatively relevant effect of high exposure to infectious diseases on the risk of civil conflicts. The analysis exploits data on the presence and endemicity of multi-host vector-transmitted pathogens in a country, which is closely related to geo-climatic conditions due to the specific features of these pathogens. Exploiting within-country variation over time shows that this effect of pathogen exposure is significantly amplified by weather s...
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作者：Amarante, Massimiliano; Ghossoub, Mario; Phelps, Edmund
作者单位：Universite de Montreal; Universite de Montreal; Imperial College London; Columbia University
摘要：We study contracting problems where one party perceives ambiguity about the relevant contingencies. We show that the party who perceives ambiguity has to observe only the revenue/loss generated by the prospect object of negotiation, but not the underlying state. We, then, introduce a novel condition (vigilance), which extends the popular monotone likelihood ratio property to settings featuring ambiguity. Under vigilance, optimal contracts are monotonic and, thus, produce the right incentives i...
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作者：Betz, Regina; Greiner, Ben; Schweitzer, Sascha; Seifert, Stefan
作者单位：University of Bayreuth; University of New South Wales Sydney; Vienna University of Economics & Business
摘要：We experimentally study the effect of auction format (sealed-bid versus closed clock versus open clock) and auction sequence (simultaneous versus sequential) on bidding behaviour and auction outcomes in auctions of multiple related multi-unit items. Prominent field applications are the sale of emission permits, fishing rights, and electricity. We find that, when auctioning simultaneously, clock auctions outperform sealed-bid auctions in terms of efficiency and revenues. This advantage disappea...
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作者：Holmberg, Par
作者单位：Research Institute of Industrial Economics (IFN); University of Cambridge
摘要：In multi-unit auctions, it is necessary to specify rationing rules to break ties between multiple marginal bids. The standard approach is to ration marginal bids proportionally. This article shows how bidding can be made more competitive - and the auctioneer can increase his surplus - if the rationing rule instead gives increasing priority to bidders with a small volume of marginal bids at clearing prices closer to the reservation price. As compared to standard rationing, such a rule can, in b...
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作者：Dustmann, Christian; Puhani, Patrick A.; Schoenberg, Uta
作者单位：University of London; University College London; Leibniz University Hannover; University of St Gallen; IZA Institute Labor Economics
摘要：We investigate the effects of attending a more advanced track in middle school on long-term education and labour market outcomes for Germany, a country with a rigorous early-age tracking system, where the risk of misallocating students is particularly high. Our research design exploits quasi-random shifts between tracks induced by date of birth, and speaks to the long-term effects of early track attendance for a group of marginal students most at risk of misallocation. Remarkably, we find no e...
