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作者：Eaton, B. Curtis; Eswaran, Mukesh
作者单位：University of Calgary; University of British Columbia
摘要：The happiness literature has established that, in the developed countries, increasing affluence has not increased well-being in recent decades. We seek an explanation for this in terms of conspicuous consumption, a phenomenon originally identified by Veblen. We develop some simple general equilibrium models that incorporate a Veblen good, among others. In all of our models, as productivity increases, the Veblen good eventually dominates the economy in the sense that, by reducing leisure, more ...
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作者：Francesconi, Marco; Rainer, Helmut; van der Klaauw, Wilbert
作者单位：University of Essex; University of St Andrews; Federal Reserve System - USA; Federal Reserve Bank - New York
摘要：This article develops a simple model of household decisions that explicitly accounts for the role played by the Working Families' Tax Credit (WFTC) to examine its effects on couples in Britain. The main implications of the model are tested using panel data from the British Household Panel Survey collected between 1991 and 2002. Overall, the financial incentives of the reform had small and statistically insignificant effects on a wide range of married mothers' decisions. Women's responses, howe...
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作者：Wittman, Donald
摘要：This article shows how uninformed but rational voters can respond intelligently to political advertising. The article models a situation where a candidate must rely on a pressure group for financing political advertising and making endorsements. The pressure group uses its power over the purse to influence the position chosen by the candidate. Nevertheless, when uninformed voters use a strategic rule of thumb, pressure-group contributions always move the outcome of the election closer to the m...
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作者：Zhao, Jinhua; Kling, Catherine L.
作者单位：Michigan State University; Iowa State University
摘要：We extend Graham's (1981) welfare analysis under uncertainty to a dynamic environment where the agent can delay and obtain information. The dynamic willingness to pay locus unifies the concepts of option price, dynamic WTP, commitment costs and quasi-option value. Option price (dynamic WTP) corresponds to the ex ante WTP when the agent ignores (recognises) the learning opportunity. The commitment cost, or the difference between option price and dynamic WTP, equals the annualised and monetised ...
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作者：Dohmen, Thomas; Falk, Armin; Huffman, David; Sunde, Uwe
作者单位：Maastricht University; University of Bonn; IZA Institute Labor Economics; Swarthmore College; University of St Gallen
摘要：This article complements the experimental literature that has shown the importance of reciprocity for behaviour in stylised labour markets or other decision settings. We use individual measures of reciprocal inclinations in a large, representative survey and relate reciprocity to real world labour market behaviour and life outcomes. We find that reciprocity matters and that the way in which it matters is very much in line with the experimental evidence. In particular, positive reciprocity is a...
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作者：Dolado, Juan J.; Jansen, Marcel; Jimeno, Juan F.
作者单位：Universidad Carlos III de Madrid; IZA Institute Labor Economics
摘要：This article examines the effects of transitory skill mismatch in a matching model with heterogeneous jobs and workers. In our model, some highly-educated workers may accept unskilled jobs for which they are over-qualified but are allowed to engage in on-the-job search in pursuit of a better job. We show that this feature has relevant implications for the set of potential equilibria, the unemployment rates of the different types of workers, the degree of wage inequality, and the response of th...
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作者：Sutter, Matthias
作者单位：University of Innsbruck; University of Gothenburg
摘要：Informational asymmetries abound in economic decision making and often provide an incentive for deception through telling a lie or misrepresenting information. In this article I use a cheap-talk sender-receiver experiment to show that telling the truth should be classified as deception too if the sender chooses the true message with the expectation that the receiver will not follow the sender's (true) message. The experimental data reveal a large degree of 'sophisticated' deception through tel...
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作者：Auriol, Emmanuelle; Picard, Pierre M.
作者单位：Universite de Toulouse; Universite Toulouse 1 Capitole; Toulouse School of Economics; University of Luxembourg; Universite Catholique Louvain
摘要：The article studies the impact of the government budget constraint on the regulation of natural monopolies in adverse selection contexts. The government maximises total surplus but incurs some cost of public funds laLaffont and Tirole (1993). Government outsourcing is proposed as an alternative to regulation in which firms freely enter the market and choose their prices and output levels. However the government can contract ex post with the private firms. This ex post contracting set-up allows...
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作者：Flandreau, Marc; Jobst, Clemens
摘要：Using a new database for the late nineteenth century, when the pound sterling was the world's leading international currency, this article provides evidence on the empirical determinants of international currency status. We report evidence in favour of the search-theoretic models to international currencies. Using a microeconomic model of currency choice, we provide empirical support to strategic externalities. We find strong confirmation of the existence of persistence, but reject the view th...
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作者：Gregory-Smith, Ian; Thompson, Steve; Wright, Peter W.
作者单位：University of Nottingham
摘要：We apply duration analysis to model the tenure and mode of exit of CEOs from FTSE 350 companies from 1996-2005, a decade in which corporate governance reforms have sought to increase the accountability of the CEO to shareholders and their representatives on the board. We find a greater likelihood of dismissal in the latter part of the period. However, we also find that the likelihood of forced departure sharply decreases from the fifth year of a CEO's tenure. We find evidence that this is beca...
