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作者：Han, S; Mulligan, CB
作者单位：University of Rochester; University of Chicago
摘要：We study the parental investment model of intergenerational mobility. where heterogeneity in 'innate' earnings ability and parents' altruism rate is explicitly modelled. We show;hat heterogeneity increases the difficulty of detecting the existence of borrowing constrained families. Conversely, the presence of heterogeneity means that economic and linear statistical models of inheritance generate similar intergenerational data on consumption and earnings. We also suggest that nay cross-country ...
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作者：Clinch, JP; Murphy, A
作者单位：University College Dublin
摘要：Contingent valuation is now the most widely used method for valuing non-marketed goods in cost-benefit analysis. Yet, despite the fact that many externalities manifest themselves as costs to some and benefits to others, most studies restrict willingness to pay to being non-negative. This can result in significant errors in policymaking. This paper examines the importance of this, explores appropriate welfare measures for assessing losses and gains, demonstrates how these can be elicited explic...
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作者：Boizot, C; Robin, JM; Visser, M
作者单位：INRAE; INRAE; Institut Polytechnique de Paris; ENSAE Paris; Institut Polytechnique de Paris; ENSAE Paris
摘要：In this paper we study household purchase behaviour of storable food products. An inventory model is developed in which the household chooses an optimal stock level of the product. Storage of the product is costly, there is a fixed cost per purchase occasion, and the market price is sometimes discounted because of price promotions. We show that the optimal purchase policy is an s, S policy. The model is used to derive predictions on the correlations between interpurchase times and purchased qu...
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作者：Zak, PJ; Knack, S
作者单位：Claremont Colleges; Claremont Graduate University; The World Bank
摘要：Why does trust vary so substantially across countries? This paper presents a general equilibrium growth model in which heterogeneous agents transact and face a moral hazard problem. Agents may trust those with whom they transact, but they also have the opportunity to invest resources in verifying the truthfulness of claims made by transactors. We characterise the social, economic and institutional environments in which trust will be high, and show that low trust environments reduce the rate of...
