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作者：Egorov, Georgy; Sonin, Konstantin
作者单位：Northwestern University; New Economic School
摘要：The possibility of treason by a close associate has been a nightmare of most autocrats throughout history. More competent viziers are better able to discriminate among potential plotters, and this makes them more risky subordinates for the ruler. To avoid this, rulers, especially those who are weak and vulnerable, sacrifice the competence of their agents, hiring mediocre but loyal subordinates. Furthermore, any use of incentive schemes by a personalistic dictator is limited by the fact that al...
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作者：Alesina, Alberto; Giuliano, Paola
作者单位：Harvard University; University of California System; University of California Los Angeles
摘要：We establish an inverse relationship between family ties and political participation, such that the more individuals rely on the family as a provider of services, insurance, and transfer of resources, the lower is one's civic engagement and political participation. We also show that strong family ties appear to be a substitute for generalized trust, rather than a complement to it. These three constructs-civic engagement, political participation, and trust-are part of what is known as social ca...
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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...
