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作者：Bag, Parimal Kanti; Saha, Bibhas
作者单位：National University of Singapore
摘要：Illegal betting in a two-team sports contest is studied with player sabotage instigated by a monopolist bookmaker. Whereas punters hold beliefs about the teams' winning chances correlated with Nature's draw, the bookmaker's information is noise-free. Enforcement investigates with a higher probability, the greater the upset. In such an environment, if punters do not suspect match-fixing, the favourite is bribed, thus creating upsets and intensifying subsequent investigations. Match-fixing conti...
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作者：Cubel, Maria; Sanchez-Pages, Santiago
作者单位：Brunel University; University of Barcelona; University of London; King's College London
摘要：This article explores the existence and endogeneity of gender differences in strategic behaviour. We report results from two experimental studies employing the beauty contest game, one in the laboratory and one in the classroom. We observe robust and significant gender differences in observed depth of strategic reasoning in favour of men in zero-stake situations. These differences disappear when a monetary prize is awarded. We also find that females engage in more rounds of reasoning than male...
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作者：Basten, Christoph; von Ehrlich, Maximilian; Lassmann, Andrea
作者单位：University of Bern; Swiss Federal Institutes of Technology Domain; ETH Zurich
摘要：We provide novel evidence on the role of income taxes for housing rents and spatial sorting. Drawing on comprehensive micro-level data, we estimate the responsiveness of households to tax differentials across municipal boundaries. Correcting for unobservable location characteristics and isolating the residential sorting component, we identify an income tax elasticity of rents of about -0.27 to -0.35. In line with non-homothetic preferences, we find that the marginal willingness to pay for lowe...
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作者：Kubler, Felix; Selden, Larry; Wei, Xiao
作者单位：University of Zurich; Swiss Finance Institute (SFI); Columbia University; University of Pennsylvania; Fudan University
摘要：Assuming the classic contingent claim setting, a number of financial asset demand tests of Expected Utility have been developed and implemented in experimental settings. However, the domain of preferences of these asset demand tests differ from the mixture space of distributions assumed in the traditional binary lottery laboratory tests of von Neumann-Morgenstern Expected Utility preferences. We derive new sets of axioms for preferences over contingent claims to be representable by an Expected...
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作者：Fetzer, Thiemo; Marden, Samuel
作者单位：University of Warwick; University of Sussex
摘要：Weak property rights are strongly associated with underdevelopment, low state capacity and civil conflict. In economic models of conflict, outbreaks of violence require a prize that is both valuable and contestable. This article exploits spatial and temporal variation in the availability of land with title that is contestable by private actors to explore the relationship between (in)secure property rights and civil conflict in the Brazilian Amazon. The results suggest that resolving this conte...
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作者：Mauring, Eeva
作者单位：University of Vienna
摘要：I study stationary cut-off-strategy equilibria of a dynamic market model where buyers sample sellers sequentially from an unknown distribution. Buyers learn about the distribution from the sampled sellers and a trade signal'. The trade signal reveals whether a randomly chosen seller traded yesterday. Observing a trade (as opposed to no trade) is good news about the distribution. Buyers who observe a trade use a higher cut-off than buyers who observe no trade, despite buyers' learning from samp...
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作者：Forbes, Kristin; Hjortsoe, Ida; Nenova, Tsvetelina
作者单位：Massachusetts Institute of Technology (MIT); Bank of England; National Bureau of Economic Research; Centre for Economic Policy Research - UK
摘要：Large current account deficits, and the corresponding reliance on capital flows from abroad, can increase a country's vulnerability to periods of heightened risk. We develop a framework to evaluate such vulnerabilities and clarify which characteristics of a country's international investment portfolio determine whether a current account deficit is ?menacing' or ?mitigating'. Financial factors, namely international investment income and valuation changes on international investments, are critic...
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作者：Li, Zhihua; Loomes, Graham; Pogrebna, Ganna
作者单位：University of Warwick
摘要：Much uncertainty in life relates to the behaviour of others in interactive environments. This article tests some implications of subjective expected utility theory (Savage, 1954) in an experimental strategic setting where there is uncertainty about the actions of other players. In this environment, a large majority of our participants violate subjective expected utility theory. However, they do not exhibit the sorts of consistent attitude to ambiguity' found in individual decision experiments....
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作者：Biswas, Siddhartha; Chakraborty, Indraneel; Hai, Rong
作者单位：University of North Carolina; University of North Carolina Chapel Hill; University of Miami
摘要：We investigate how the reduction of income inequality through tax policy affects economic growth. Taxation at different points of the income distribution has heterogeneous impacts on households' incentives to work, invest, and consume. Using US state-level data and micro-level household tax returns over the last three decades, we find that reducing income inequality between low and median income households improves economic growth. However, reducing income inequality through taxation between m...
