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作者：Dohmen, Thomas; Falk, Armin; Huffman, David; Sunde, Uwe; Schupp, Juergen; Wagner, Gert G.
作者单位：Maastricht University; University of Bonn; Swarthmore College; University of St Gallen; Leibniz Association; DIW Berlin - Deutsches Institut fur Wirtschaftsforschung; Free University of Berlin; Max Planck Society
摘要：This paper studies risk attitudes using a large representative survey and a complementary experiment conducted with a representative subject pool in subjects' homes. Using a question asking people about their willingness to take risks in general, we find that gender, age, height, and parental background have an economically significant impact on willingness to take risks. The experiment confirms the behavioral validity of this measure, using paid lottery choices. Turning to other questions abo...
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作者：Gollier, Christian; Schlee, Edward
作者单位：Universite de Toulouse; Universite Toulouse 1 Capitole; Toulouse School of Economics; Arizona State University; Arizona State University-Tempe
摘要：We determine how better information affects the average equity premium in a standard representative-agent exchange economy. Perfect information obviously eliminates the equity premium, and a particular kind of information about the level of future consumption always lowers the average equity premium. Surprisingly, information sometimes raises the average equity premium, no matter what the preferences of the representative agent. Information purely about the volatility either of consumption or ...
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作者：Rotemberg, Julio J.
作者单位：Harvard University
摘要：This paper explores the consequences of supposing that consumers see a firm as fair if they cannot reject the hypothesis that the firm is somewhat benevolent towards them. When consumers can reject this hypothesis, some become angry, which is costly to the firm. The desire to appear benevolent can lead firms to adopt third-degree price discrimination based on the income of different consumer classes while foreswearing third-degree price discrimination based on differences in the elasticity of ...
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作者：Arai, Mahmood; Karlsson, Jonas; Lundholm, Michael
作者单位：Stockholm University
摘要：This study is a replication of Are Muslim Immigrants Different in terms of Cultural Integration? by Alberto Bisin, Eleonora Patacchini, Thierry Verdier and Yves Zenou, published in the Journal of the European Economic Association, 6, 445-456, 2008. Bisin et al. (2008) report that they have 5,963 observations in their study. Using their empirical setup, we can only identify 1,901 relevant observations in the original data. After removing missing values we are left with 818 observations. We cann...
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作者：Gali, Jordi
作者单位：Centre de Recerca en Economia Internacional (CREI); Pompeu Fabra University; Barcelona School of Economics
摘要：The standard New Keynesian model with staggered wage setting is shown to imply a simple dynamic relation between wage inflation and unemployment. Under some assumptions, that relation takes a form similar to that found in empirical wage equations-starting from Phillips' (1958) original work-and may thus be viewed as providing some theoretical foundations to the latter. The structural wage equation derived here is shown to account reasonably well for the comovement of wage inflation and the une...
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作者：Besley, Timothy; Persson, Torsten
作者单位：University of London; London School Economics & Political Science; Stockholm University
摘要：It is widely recognized that fragile states are key symptoms of under-development in many parts of the world. Such states are incapable of delivering basic services to their citizens and political violence is commonplace. As of yet, mainstream development economics has not dealt in any systematic way with such concerns and the implications for development assistance. This paper puts forward a framework for analyzing fragile states and applies it to a variety development policies in different t...
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作者：Aghion, Philippe; Algan, Yann; Cahuc, Pierre
作者单位：Harvard University; Institut Polytechnique de Paris; Ecole Polytechnique
摘要：In a cross-section of countries, state regulation of labor markets is negatively correlated with the quality of labor relations. In this paper, we argue that these facts reflect different ways of regulating labor markets, either through the state or through the civil society, depending on the degree of cooperation in the economy. We rationalize these facts with a model of learning of the quality of labor relations. Distrustful labor relations lead to low unionization and high demand for direct...
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作者：Tressel, Thierry; Verdier, Thierry
作者单位：University of Southampton; University of Southampton
摘要：We model a small open economy in which both domestic financial intermediaries and entrepreneurs face incentive constraints, as in Holmstrom and Tirole (1997), to study the general equilibrium impact of various types of capital inflows on the efficiency and governance of domestic banks. Banks have an advantage in monitoring firms, but the latter can collude with banks and offer side-payments to reduce the intensity of monitoring. Opening up to international capital flows makes domestic banks' c...
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作者：Fershtman, Chaim; Gneezy, Uri
作者单位：Tel Aviv University; University of California System; University of California San Diego
摘要：Tournaments may be characterized by the performance they induce as well as by the rate of quitting and dropouts of participants. Although most of the attention in the literature is on the performance induced by high power incentives, there are many daily situations in which dropouts and quitting are a major concern. Using a field experiment in schools and a model of dynamic tournament we examine the effect of different levels of rewards on the rate of quitting. Our experiment indicates that th...
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作者：Miklos-Thal, Jeanine; Rey, Patrick; Verge, Thibaud
作者单位：University of Rochester; Universite de Toulouse; Universite Toulouse 1 Capitole; Toulouse School of Economics; Universite de Toulouse; Universite Toulouse 1 Capitole; Toulouse School of Economics
摘要：We analyze the competitive effects of various contractual provisions in a situation where rival retailers make offers to a common manufacturer. In contrast to Marx and Shaffer (2007, Rand Journal of Economics, 38(3), 823-843), who find that a strong retailer can use slotting allowances (that is, upfront payments from manufacturers) to exclude its weaker rival, we show that foreclosure is no longer inevitable once retailers' offers can be contingent on the relationship being exclusive or not. T...
