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作者：Fehr, Ernst; Goette, Lorenz
作者单位：University of Zurich
摘要：Most previous studies on intertemporal labor supply found very small or insignificant substitution effects. It is possible that these results are due to constraints on workers' labor supply choices. We conducted afield experiment in a setting in which workers were free to choose hours worked and effort per hour. We document a large positive elasticity of overall labor supply and an even larger elasticity of hours, which implies that the elasticity of effort per hour is negative. We examine two...
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作者：Kapteyn, Arie; Smith, James P.; Van Soest, Arthur
作者单位：RAND Corporation; Tilburg University
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作者：Eeckhoudt, L; Schlesinger, H
作者单位：University of Alabama System; University of Alabama Tuscaloosa; University of Konstanz
摘要：This paper examines preferences toward particular classes of lottery pairs. We show how such concepts as prudence and temperance can be fully characterized by a preference relation over these lotteries. If preferences are defined in an expected-utility framework with differentiable utility, the direction of preference for a particular class of lottery pairs is equivalent to signing the n(th) derivative of the utility function. What makes our characterization appealing is its simplicity, which ...
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作者：Oreopoulos, P
作者单位：University of Toronto; National Bureau of Economic Research
摘要：The change to the minimum school-leaving age in the United Kingdom from 14 to 15 had a powerful and immediate effect that redirected almost half the population of 14-year-olds in the mid-twentieth century to stay in school for one more year. The magnitude of this impact provides a rare opportunity to (a) estimate local average treatment effects (LATE) of high school that come close to population average treatment effects (ATE); and (b) estimate returns to education using a regression discontin...
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作者：Persson, Torsten; Tabellini, Guido
作者单位：Stockholm University; Bocconi University
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作者：Rohlfs, Chris
作者单位：University of Chicago
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作者：Esteban, J; Ray, D
作者单位：Consejo Superior de Investigaciones Cientificas (CSIC); CSIC - Institut d'Analisi Economica (IAE); New York University
摘要：This paper describes how wealth inequality may distort public resource allocation. A government seeks to allocate limited resources to productive sectors, but sectoral productivity is privately known by agents with vested interests in those sectors. They lobby the government for preferential treatment. The government-even if it honestly seeks to maximize economic efficiency-may be confounded by the possibility that both high wealth and true economic desirability create loud lobbies. Broadly sp...
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作者：Fudenberg, Drew; Levine, David K.
作者单位：Harvard University; University of California System; University of California Los Angeles
摘要：We argue that some, but not all, superstitions can persist when learning is rational and players are patient, and illustrate our argument with an example inspired by the Code of Hammurabi. The code specified an appeal by surviving in the river as a way of deciding whether an accusation was true. According to our theory, a mechanism that uses superstitions two or more steps off the equilibrium path, such as appeal by surviving in the river, is more likely to persist than a superstition where t...
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作者：Hunt, Robert M.
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Philadelphia
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作者：Udry, Christopher; Anagol, Santosh
作者单位：Yale University
