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作者：Huck, S; Kirchsteiger, G; Oechssler, J
作者单位：Universite Libre de Bruxelles; Ruprecht Karls University Heidelberg
摘要：The endowment effect describes the fact that people demand much more to give up an object than they are willing to spend to acquire it. The existence of this effect has been documented in numerous experiments. We attempt to explain this effect by showing that evolution favors individuals whose preferences embody an endowment effect. The reason is that an endowment effect improves one's bargaining position in bilateral trades. We show that for a general class of evolutionary processes strictly ...
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作者：Nickell, S; Nunziata, L; Ochel, W
作者单位：Bank of England; University of London; London School Economics & Political Science; University of Oxford
摘要：This paper presents an empirical analysis of unemployment patterns in the OECD countries from the 1960s to the 1990s. Our results indicate the following. First, broad movements in unemployment across the OECD can be explained by shifts in labour market institutions. Second, interactions between average values of these institutions and shocks make no significant additional contribution to our understanding of OECD unemployment changes.
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作者：Plug, E; Vijverberg, W
作者单位：University of Amsterdam; University of Texas System; University of Texas Dallas
摘要：One would expect that family income is an important positive factor in children's school attainment. However, evidence is often tainted by the lack of control for parental ability, since at least a portion of ability is transferred genetically to children. This paper uses a sample of adopted children and offers genetically unbiased estimates. We further correct for biases arising from unobserved parenting qualities and from parents' differentiation between their own birth and adopted children....
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作者：Bateman, I; Munro, A
作者单位：University of East Anglia; University of Western Australia
摘要：A host of experiments have examined theories of risky choice using individuals. However, many important economic decisions are taken within multi-adult households. This paper reports on the first economic experiment designed to test theories of household choice. We use established couples and face them individually and jointly with decisions involving monetary payoffs. We find that joint choices typically are more risk averse than those made by individuals. Meanwhile, choices made by couples e...
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作者：Corrado, L; Martin, R; Weeks, M
作者单位：University of Rome Tor Vergata; University of Cambridge
摘要：In this paper we test for regional convergence clusters across the EU. We utilise a methodology that allows for the endogenous selection of regional clusters using a multivariate test for stationarity, where the number and composition of clusters are determined by the application of pairwise tests of regional differences in per capita output over time. To interpret the composition of the resulting convergence clusters, the latter are tested against a number of possible groupings suggested by r...
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作者：Blackaby, D; Booth, AL; Frank, J
摘要：Using a unique data source on academic economist labour market experiences, we explore gender, pay and promotions. In addition to earnings and productivity measures, we have information on outside offers and perceptions of discrimination. We find both a gender promotions gap and a within-rank gender pay gap. A driving factor may be outside offers: men receive more outside offers than women of comparable characteristics, and gain higher pay increases in response. This may arise due to discrimin...
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作者：Nakajima, T
作者单位：Brown University
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作者：Gillman, M; Kejak, M
作者单位：Cardiff University; Central European University; Hungarian Academy of Sciences; Charles University Prague; Czech Academy of Sciences; Economics Institute of the Czech Academy of Sciences; Czech Academy of Sciences
摘要：The paper shows that contrary to conventional wisdom an endogenous growth economy with human capital and alternative payment mechanisms can robustly explain major facets of the long-run inflation experience. A negative inflation-growth relation is explained, including a striking nonlinearity found repeatedly in empirical studies. A set of Tobin (1965) effects are also explained and, further, linked in magnitude to the growth effects through the interest elasticity of money demand. Undisclosed ...
