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作者：Fisman, Raymond; Miguel, Edward
作者单位：Columbia University; National Bureau of Economic Research; University of California System; University of California Berkeley
摘要：We study cultural norms and legal enforcement in controlling corruption by analyzing the parking behavior of United Nations officials in Manhattan. Until 2002, diplomatic immunity protected UN diplomats from parking enforcement actions, so diplomats' actions were constrained by cultural norms alone. We find a strong effect of corruption norms: diplomats from high-corruption countries (on the basis of existing survey-based indices) accumulated significantly more unpaid parking violations. In 20...
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作者：Oberholzer-Gee, Felix; Strumpf, Koleman
作者单位：Harvard University; University of Kansas
摘要：For industries ranging from software to pharmaceuticals and entertainment, there is an intense debate about the appropriate level of protection for intellectual property. The Internet provides a natural crucible to assess the implications of reduced protection because it drastically lowers the cost of copying information. In this paper, we analyze whether file sharing has reduced the legal sales of music. While this question is receiving considerable attention in academia, industry, and Congre...
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作者：Kaplow, Louis; Shavell, Steven
作者单位：Harvard University; National Bureau of Economic Research
摘要：How should moral sanctions and moral rewards-the moral sentiments involving feelings of guilt and of virtue-be employed to govern individuals' behavior if the objective is to maximize social welfare? In the model that we examine, guilt is a disincentive to act and virtue is an incentive because we assume that they are negative and positive sources of utility. We also suppose that guilt and virtue are costly to inculcate and are subject to certain constraints on their use. We show that the mora...
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作者：Calvet, Laurent E.; Campbell, John Y.; Sodini, Paolo
作者单位：Imperial College London; National Bureau of Economic Research; Harvard University; Stockholm School of Economics; Sveriges Riksbank
摘要：This paper investigates the efficiency of household investment decisions using comprehensive disaggregated Swedish data. We consider two main sources of inefficiency: underdiversification (down) and nonparticipation in risky asset markets (out). While a few households are very poorly diversified, most Swedish households outperform the Sharpe ratio of their domestic stock index through international diversification. Financially sophisticated households invest more efficiently but also more aggr...
