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作者：Bjorklund, Anders; Jantti, Markus; Nybom, Martin
作者单位：Stockholm University
摘要：We explore whether differences in intergenerational income mobility between the UK and Sweden show up early in life, finding stronger associations between parental income and birthweight, height and school performance in the UK. We investigate whether these differentials can account for the country difference in income mobility. While differences in the associations in birthweight and height are too weak to matter, school performance does account for a substantial part of this difference. Howe...
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作者：Fenn, Paul; Grembi, Veronica; Rickman, Neil
作者单位：University of Nottingham; Universita Mediterranea di Reggio Calabria; University of Surrey
摘要：Expenditure on legal services has been rising and has attracted considerable policy attention in the UK. We argue that an important reason for this increase stems from the introduction of 'no win no fee' schemes in 1995 and a subsequent amendment's in 2000 which allowed claimants to shift additional costs onto losing defendants. We describe how this may have increased expenditure on legal claims and we test for the 2000 amendment effect using a regression discontinuity design on a dataset of e...
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作者：Ioannidis, John P. A.; Stanley, T. D.; Doucouliagos, Hristos
作者单位：Stanford University; Deakin University
摘要：We investigate two critical dimensions of the credibility of empirical economics research: statistical power and bias. We survey 159 empirical economics literatures that draw upon 64,076 estimates of economic parameters reported in more than 6,700 empirical studies. Half of the research areas have nearly 90% of their results under-powered. The median statistical power is 18%, or less. A simple weighted average of those reported results that are adequately powered (power >= 80%) reveals that ne...
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作者：Brewer, Mike; Etheridge, Ben; O'Dea, Cormac
作者单位：University of Essex; University of Essex; University of London; London School Economics & Political Science
摘要：We document that households in the UK with extremely low measured income tend to spend much more than those with merely moderately low income. This phenomenon is evident throughout three decades worth of microdata and across different employment states, levels of education and marital statuses. Of the likely explanations, we provide several arguments that discount over-reporting of expenditure and argue that under-reporting of income plays the major role. In particular, by using a dynamic mode...
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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：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：Damsgaard, Erika Farnstrand; Hjertstrand, Per; Norback, Pehr-Johan; Persson, Lars; Vasconcelos, Helder
作者单位：Research Institute of Industrial Economics (IFN); Centre for Economic Policy Research - UK; Universidade do Porto; Universidade do Porto
摘要：This article examines how entrepreneurs and incumbents differ in their R&D strategies. We show that entrepreneurs have incentives to choose projects with a higher risk and a higher potential in order to reduce expected entry costs. If products are not too differentiated, entrepreneurs will select projects that are too safe from a social point of view, since they do not internalise the business stealing effect on incumbents. Entry support induces entrepreneurs to choose safer projects, whereas ...
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作者：Lin, Shengle; Pfeiffer, Glenn; Porter, David
作者单位：California State University System; San Francisco State University; Chapman University System; Chapman University
摘要：We examine the effects of three alternative accounting methods in an experimental asset market characterised by bubbles and crashes: fair value (M2M), historical cost (HC) and marked to fundamental value (M2F). Each treatment is replicated under both no-leverage and leverage conditions. In the no-leverage condition, we find that accounting methods do not have a significant effect on asset mispricing. In the leverage condition, both M2M and M2F accounting methods exacerbate asset mispricing. Ye...
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作者：Maniadis, Zacharias; Tufano, Fabio; List, John A.
作者单位：University of Southampton; University of Nottingham; University of Chicago
摘要：The sciences are in an era of an alleged 'credibility crisis'. In this study, we discuss the reproducibility of empirical results, focusing on economics research. By combining theory and empirical evidence, we discuss the import of replication studies and whether they improve our confidence in novel findings. The theory sheds light on the importance of replications, even when replications are subject to bias. We then present a pilot meta-study of replication in experimental economics, a subfie...
