-
作者：Hopfensitz, Astrid; Reuben, Ernesto
作者单位：Universite de Toulouse; Universite Toulouse 1 Capitole; Toulouse School of Economics; Northwestern University
摘要：This article experimentally explores how the enforcement of cooperative behaviour in a social dilemma is facilitated through institutional as well as emotional mechanisms. Recent studies emphasise the importance of anger and its role in motivating individuals to punish free riders. However, we find that anger also triggers retaliatory behaviour by the punished individuals. This makes the enforcement of a cooperative norm more costly. We show that in addition to anger, 'social' emotions like gu...
-
作者：Crockett, Sean; Smith, Vernon L.; Wilson, Bart J.
作者单位：City University of New York (CUNY) System; Baruch College (CUNY); Chapman University System; Chapman University
摘要：In this article we study the performance of an economy that can support specialisation if the participants develop and follow some system of exchange. We define a closed economy in which the participants must discover the ability to exchange, implement it, and ascertain what they are comparatively advantaged in producing. Many of our participants demonstrate the ability to find comparative advantage, capture gains from trade and effectively choose production that is consistent with the choices...
-
作者：Cogley, Timothy; Sargent, Thomas J.
作者单位：University of California System; University of California Davis; New York University
摘要：We study prices and allocations in a complete-markets, pure-exchange economy in which there are two types of agents with different priors over infinite sequences of the aggregate endowment. Aggregate consumption growth evolves exogenously according to a two-state Markov process. The economy has two types of agents, one that learns about transition probabilities and another that knows them. We examine allocations, the market price of risk and the rate at which asset prices converge to values th...
-
作者：Fehr, Ernst; Brown, Martin; Zehnder, Christian
作者单位：University of Zurich; University of Lausanne
摘要：We study the impact of reputational incentives in markets characterised by moral hazard problems. Social preferences have been shown to enhance contract enforcement in these markets, while at the same time generating considerable wage and price rigidity. Reputation powerfully amplifies the positive effects of social preferences on contract enforcement by increasing contract efficiency substantially. This effect is, however, associated with a considerable bilateralisation of market interactions...
-
作者：Gregg, Paul; Harkness, Susan; Smith, Sarah
作者单位：University of Bristol; University of Bath
摘要：A series of reforms to help low income families with children were introduced in the UK in 1999, including in-work tax credits and welfare-to-work programmes. Lone parents were a key target for these reforms - they comprised 22% of all families by 1998 but 55% of families with children in poverty. Previous studies have shown that the reforms raised employment among lone parents. This article extends the analysis of the effect of the reforms to consider employment dynamics, including hours adju...
-
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...
-
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...
-
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...
-
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...
-
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...
