All Outputs (76)

Time inconsistency and alcohol sales restrictions (2016)
Journal Article
Hinnosaar, M. (2016). Time inconsistency and alcohol sales restrictions. European Economic Review, 87, 108-131. https://doi.org/10.1016/j.euroecorev.2016.04.012

Restrictions on alcohol sales hours or days are commonly used tools in order to reduce alcohol consumption. However, a forward-looking consumer can buy in advance, and thereby mostly undo the impact of the restriction. I study whether time inconsiste... Read More about Time inconsistency and alcohol sales restrictions.

International aspects of merger policy: a survey (2016)
Journal Article
Breinlich, H., Nocke, V., & Schutz, N. (2017). International aspects of merger policy: a survey. International Journal of Industrial Organization, 50, https://doi.org/10.1016/j.ijindorg.2016.05.001

This paper surveys the literature on merger policy in open economies. We first adopt a reduced-form approach to derive general insights on the scope for conflict between national antitrust authorities and on the gains from international merger policy... Read More about International aspects of merger policy: a survey.

Dynamic bargaining and stability with veto players (2016)
Journal Article
Anesi, V., & Duggan, J. (2017). Dynamic bargaining and stability with veto players. Games and Economic Behavior, 103, https://doi.org/10.1016/j.geb.2016.04.010

This note examines the structure of stationary bargaining equilibria in the finite framework of Anesi (2010). The main result establishes a tight connection between the set of equilibrium absorbing points and the von Neumann-Morgestern solutions: ass... Read More about Dynamic bargaining and stability with veto players.

Quota restrictions and intra-firm reallocations: evidence from Chinese exports to the US (2016)
Journal Article
Upward, R., & Wang, Z. (2016). Quota restrictions and intra-firm reallocations: evidence from Chinese exports to the US. Economics Letters, 144, https://doi.org/10.1016/j.econlet.2016.04.025

We study how Chinese textile and clothing firms adjusted the product structure of their exports to the US, as triggered by the termination of Multifiber Arrangement (MFA) quotas. We find that the removal of MFA quotas induced firms to expand their pr... Read More about Quota restrictions and intra-firm reallocations: evidence from Chinese exports to the US.

Lead-lag relationships in an embryonic stock market: exploring the role of institutional ownership and liquidity (2016)
Journal Article
Arjoon, V., Bougheas, S., & Milner, C. (2016). Lead-lag relationships in an embryonic stock market: exploring the role of institutional ownership and liquidity. Research in International Business and Finance, 38, https://doi.org/10.1016/j.ribaf.2016.04.012

This paper investigates the influence of institutional ownership and liquidity on stock return relationships for an embryonic and relatively illiquid stock market. Using daily, individual stock data for Trinidad and Tobago from 2001 to 2015 and a VAR... Read More about Lead-lag relationships in an embryonic stock market: exploring the role of institutional ownership and liquidity.

Should the insurance industry be banking on risk escalation for solvency II? (2016)
Journal Article
Bryce, C., Webb, R., Cheevers, C., Ring, P., & Clark, G. (2016). Should the insurance industry be banking on risk escalation for solvency II?. International Review of Financial Analysis, 46, 131-139. https://doi.org/10.1016/j.irfa.2016.04.014

Basel II introduced a three pillar approach which concentrated upon new capital ratios (Pillar I), new supervisory procedures (Pillar II) and demanded better overall disclosure to ensure effective market discipline and transparency. Importantly, it i... Read More about Should the insurance industry be banking on risk escalation for solvency II?.

Spain and the crisis: housing prices, credit, and macroprudential policies (2016)
Journal Article
Rubio, M., & Carrasco-Gallego, J. A. (2017). Spain and the crisis: housing prices, credit, and macroprudential policies. Singapore Economic Review, 62(1), 109-133. https://doi.org/10.1142/S0217590817400057

In this paper, we propose a two-country, two sector monetary union DSGE model with housing. One of the countries is calibrated to represent the Spanish economy while the other one is the rest of the European monetary union. First, we illustrate how l... Read More about Spain and the crisis: housing prices, credit, and macroprudential policies.

Risky Choice in the Limelight (2016)
Journal Article
van den Assem, M. J., Baltussen, G., & van Dolder, D. (2016). Risky Choice in the Limelight. Review of Economics and Statistics, 98(2), 318-332. https://doi.org/10.1162/rest_a_00505

This paper examines how risk behavior in the limelight differs from that in anonymity. In two separate experiments we find that subjects are more risk averse in the limelight. However, risky choices are similarly path dependent in the different treat... Read More about Risky Choice in the Limelight.

Long-Run Effects of Youth Training Programs: Experimental Evidence From Argentina (2016)
Journal Article
Alzúa, M. L., Cruces, G., & Lopez, C. (2016). Long-Run Effects of Youth Training Programs: Experimental Evidence From Argentina. Economic Inquiry, 54(4), 1839-1859. https://doi.org/10.1111/ecin.12348

We study the effect of a job training program for low‐income youth in Cordoba, Argentina. The program included life‐skills and vocational training, as well as internships with private sector employers. Participants were allocated by means of a public... Read More about Long-Run Effects of Youth Training Programs: Experimental Evidence From Argentina.

Reputation-based cooperation: empirical evidence for behavioral strategies (2016)
Journal Article
Swakman, V., Molleman, L., Ule, A., & Egas, M. (2016). Reputation-based cooperation: empirical evidence for behavioral strategies. Evolution and Human Behavior, 37(3), 230-235. https://doi.org/10.1016/j.evolhumbehav.2015.12.001

Human cooperation in large groups can emerge when help is channeled towards individuals with a good reputation of helping others. Evolutionary models suggest that, for reputation-based cooperation to be stable, the recipient’s reputation should not b... Read More about Reputation-based cooperation: empirical evidence for behavioral strategies.

Moral consequences of becoming unemployed (2016)
Journal Article
Barr, A., Miller, L., & Ubeda, P. (2016). Moral consequences of becoming unemployed. Proceedings of the National Academy of Sciences, 113(17), https://doi.org/10.1073/pnas.1521250113

We test the conjecture that becoming unemployed erodes the extent to which a person acknowledges earned entitlement. We use behavioral experiments to generate incentive compatible measures of individuals’ tendencies to acknowledge earned entitlement... Read More about Moral consequences of becoming unemployed.

The effect of agricultural technology on the speed of development (2016)
Journal Article
Eberhardt, M., & Vollrath, D. (2018). The effect of agricultural technology on the speed of development. World Development, 109, https://doi.org/10.1016/j.worlddev.2016.03.017

We examine heterogeneity in the elasticity of agricultural output with respect to labor. Employing panel data from 128 countries over a forty year period we find distinct heterogeneity in the elasticity of agricultural output with respect to labor. T... Read More about The effect of agricultural technology on the speed of development.

Religion, discrimination and trust across three cultures (2016)
Journal Article
Chuah, S. H., Gaechter, S., Hoffmann, R., & Tan, J. H. (2016). Religion, discrimination and trust across three cultures. European Economic Review, 90, 280-301. https://doi.org/10.1016/j.euroecorev.2016.03.008

We propose that religion impacts trust and trustworthiness in ways that depend on how individuals are socially identified and connected. Religiosity and religious affiliation may serve as markers for statistical discrimination. Further, affiliation t... Read More about Religion, discrimination and trust across three cultures.

The impact of the initial condition on covariate augmented unit root tests (2016)
Journal Article
Aristidou, C., Harvey, D. I., & Leybourne, S. J. (2016). The impact of the initial condition on covariate augmented unit root tests. Journal of Time Series Econometrics, 9(1), https://doi.org/10.1515/jtse-2015-0013

We examine the behaviour of OLS-demeaned/detrended and GLS-demeaned/detrended unit root tests that employ stationary covariates, as proposed by Hansen (1995, “Rethinking the Univariate Approach to Unit Root Testing.” Econometric Theory 11:1148–71) an... Read More about The impact of the initial condition on covariate augmented unit root tests.

Intrinsic honesty and the prevalence of rule violations across societies (2016)
Journal Article
Gaechter, S., & Schulz, J. (2016). Intrinsic honesty and the prevalence of rule violations across societies. Nature, 531(7595), https://doi.org/10.1038/nature17160

Deception is common in nature and humans are no exception. Modern societies have created institutions to control cheating, but many situations remain where only intrinsic honesty keeps people from cheating and violating rules. Psychological, sociolog... Read More about Intrinsic honesty and the prevalence of rule violations across societies.

State history, historical legitimacy and modern ethnic diversity (2016)
Journal Article
Bleaney, M., & Dimico, A. (2016). State history, historical legitimacy and modern ethnic diversity. European Journal of Political Economy, 43, https://doi.org/10.1016/j.ejpoleco.2016.03.001

How much does the antiquity of states, and the sometimes arbitrary nature of colonial boundaries, explain the modern degree of theory of ethnic diversity and income disthnic diversity? It is shown that states with greater historical legitimacy (more... Read More about State history, historical legitimacy and modern ethnic diversity.

Tullock contests may be revenue superior to auctions in a symmetric setting (2016)
Journal Article
Matros, A., & Possajennikov, A. (2016). Tullock contests may be revenue superior to auctions in a symmetric setting. Economics Letters, 142, https://doi.org/10.1016/j.econlet.2016.03.003

We consider a symmetric two-player common-value setting where each player gets a private signal about the object value. We show that for some parameter values the equilibrium revenue can be higher in a Tullock contest than in the standard auctions.

A test for risk-averse expected utility (2016)
Journal Article
Chambers, C. P., Liu, C., & Martinez, S. (2016). A test for risk-averse expected utility. Journal of Economic Theory, 163, 775-785. https://doi.org/10.1016/j.jet.2016.03.002

We provide a universal condition for rationalizability by risk-averse expected utility preference in a demand-based framework with multiple commodities. Our test can be viewed as a natural counterpart of a classical test of expected utility, due to F... Read More about A test for risk-averse expected utility.

Norm elicitation in within-subject designs: testing for order effects (2016)
Journal Article
D’Adda, G., Drouvelis, M., & Nosenzo, D. (2016). Norm elicitation in within-subject designs: testing for order effects. Journal of Behavioral and Experimental Economics, 62, https://doi.org/10.1016/j.socec.2016.02.003

We investigate norms of corruption using the norm-elicitation procedure introduced by Krupka and Weber (2013). We use a within-subject design whereby the norms are elicited from the same subjects who are observed making choices in a bribery game. We... Read More about Norm elicitation in within-subject designs: testing for order effects.

A representation theorem for guilt aversion (2016)
Journal Article
Jensen, M. K., & Kozlovskaya, M. (2016). A representation theorem for guilt aversion. Journal of Economic Behavior and Organization, 125, 148-161. https://doi.org/10.1016/j.jebo.2016.02.001

Guilt aversion has been shown to play an important role in economic decision-making. In this paper, we take an axiomatic approach to guilt by deducing a utility representation from a list of easily interpretable assumptions on an agent's preferences.... Read More about A representation theorem for guilt aversion.