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作者：Fellner, Gerlinde; Sutter, Matthias
作者单位：Vienna University of Economics & Business; University of Innsbruck; University of Gothenburg
摘要：We use an experiment to examine the causes, consequences and possible cures of myopic loss aversion (MLA) for investment behaviour under risk. We find that both investment horizons and feedback frequency contribute almost equally to the effects of MLA. Longer investment horizons and less frequent feedback lead to higher investments. However, when given the choice, subjects prefer on average shorter investment horizons and more frequent feedback. Exploiting the status quo bias by setting a long...
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作者：Capra, C. Monica; Tanaka, Tomomi; Camerer, Colin F.; Feiler, Lauren; Sovero, Veronica; Noussair, Charles N.
作者单位：Emory University; Tilburg University; California Institute of Technology; Arizona State University; Arizona State University-Tempe; Carleton College; University of California System; University of California Los Angeles
摘要：We introduce an experimental approach to study the effect of institutions on economic growth. In each period, agents produce and trade output in a market, and allocate it to consumption and investment. Productivity is higher if total capital stock is above a threshold. The threshold externality generates two steady states - a suboptimal 'poverty trap' and an optimal steady state. In a baseline treatment, the economies converge to the poverty trap. However, the ability to make public announceme...
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作者：Murata, Yasusada
作者单位：Nihon University
摘要：I propose a simple general equilibrium model with nonhomothetic preferences and productivity differences and analyse the number and the composition of varieties in consumption. I obtain the following three results. First, population and labour efficiency have different roles in the income elasticity of demand, thus having different impacts on the number of final goods. Second, given the number of final goods, the composition of varieties is determined by the relative importance of desirability...
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作者：Hunter, Rosalind S.; Oswald, Andrew J.; Charlton, Bruce G.
作者单位：University of Warwick; University of Newcastle
摘要：We collect data on the movement and productivity of elite scientists. Their mobility is remarkable: nearly half of the world's most-cited physicists work outside their country of birth. We show they migrate systematically towards nations with large R & D spending. Our study cannot adjudicate on whether migration improves scientists' productivity, but we find that movers and stayers have identical h-index citations scores. Immigrants in the UK and US now win Nobel Prizes proportionately less of...
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作者：Cai, Hongbin; Liu, Qiao
作者单位：Peking University; Peking University; University of Hong Kong
摘要：This article investigates whether market competition enhances the incentives of Chinese industrial firms to avoid corporate income tax. We estimate the effects of competition on the relationship between firms' reported accounting profits and their imputed profits based on the national income account. To cope with measurement errors and potential endogeneity, we use instrumental variables, exogenous policy shocks and other robustness analysis. We find robust and consistent evidence that firms i...
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作者：Engelmann, Dirk; Grimm, Veronika
作者单位：University of London; Czech Academy of Sciences; Economics Institute of the Czech Academy of Sciences; University of Copenhagen; University of Cologne; University of Erlangen Nuremberg
摘要：We present laboratory experiments of five different multi-unit auction mechanisms. Two units of a homogeneous object were auctioned off among two bidders with flat demand for two units. We test whether expected demand reduction occurs in open and sealed-bid uniform-price auctions. We also test revenue equivalence for these auctions as well as for the Ausubel, the Vickrey and the discriminatory sealed-bid auction. Furthermore, we compare the five mechanisms with respect to the efficient allocat...
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作者：Luechinger, Simon
作者单位：University of Zurich; Swiss Federal Institutes of Technology Domain; ETH Zurich
摘要：I use the life satisfaction approach to value air quality, combining individual-level panel and high-resolution SO2 data. To avoid simultaneity problems, I construct a novel instrument exploiting the natural experiment created by the mandated scrubber installation at power plants, with wind directions dividing counties into treatment and control groups. I find a negative effect of pollution on well-being that is larger for instrumental variable than conventional estimates, robust to controls f...
