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Evaluating microfoundations for aggregate price regidities: evidence from matched firm-level data on product prices and unit labor cost
Carlsson, Mikael; Nordström Skans, Oskar - 2009
strongly to predictable marginal cost changes, as expected from the Mankiw and Reis (2002) Sticky Information Model. We �nd …
Persistent link: https://www.econbiz.de/10011605129
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Trusting the stock market
Haliassos, Michael; Reiter, Michael - 2005
We provide a new explanation to the limited stock market participation puzzle. In deciding whether to buy stocks, investors factor in the risk of being cheated. The perception of this risk is a function not only of the objective characteristics of the stock, but also of the subjective...
Persistent link: https://www.econbiz.de/10010298311
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Incomplete and Asymmetric Surplus Information in Labor Relations
Hennig-Schmidt, Heike; Rockenbach, Bettina; Sadrieh, … - 2003
information on the surplus created. Recent field experiments, however, suggest that trust and reciprocity may be lower or absent … when the information is incomplete. We report a laboratory experiment with symmetric and asymmetric incomplete surplus … information in a “bilateral gift exchange” setting. We find that trust and reciprocity have a significant positive effect on wages …
Persistent link: https://www.econbiz.de/10010263092
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A way of explaining unemployment through a wage-setting game
Tasnádi, Attila - 2003
We investigate a duopsonistic wage-setting game in which the firms have a limited number of workplaces. We assume that the firms have heterogeneous productivity, that there are two types of workers with different reservation wages and that a worker's productivity is independent of his type. We...
Persistent link: https://www.econbiz.de/10010263101
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Sabotage in Asymmetric Contests – An Experimental Analysis
Kräkel, Matthias; Irlenbusch, Bernd; Harbring, Christine; … - 2004
In a contest players compete for winning a prize by effort and thereby increasing their probability of winning. Contestants, however, could also improve their own relative position by harming the other players. We experimentally analyze contests with heterogeneous agents who may individually...
Persistent link: https://www.econbiz.de/10010263109
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Standard Breach Remedies, Quality Thresholds, and Cooperative Investments
Stremitzer, Alexander - 2008
some (arbitrarily chosen) quality threshold. In order to implement this regime, no more information needs to be verifiable …
Persistent link: https://www.econbiz.de/10010270017
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Counterfeiting and inflation
Monnet, Cyril - 2005
matching model with no commitment and no enforcement. An intrinsically worthless but perfectly durable object called a ‘note …
Persistent link: https://www.econbiz.de/10011604558
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Optimal sticky prices under rational inattention
Maćkowiak, Bartosz; Wiederholt, Mirko - 2009
information flow. When idiosyncratic conditions are more variable or more important than aggregate conditions, firms pay more …
Persistent link: https://www.econbiz.de/10011605055
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The Optimality of Simple Contracts: Moral Hazard and Loss Aversion
Herweg, Fabian; Müller, Daniel - 2008
the case the principal may be unable to fine-tune incentives. Strategic ignorance of information by the principal, however …
Persistent link: https://www.econbiz.de/10010264926
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Investment in financial literacy and saving decisions
Jappelli, Tullio; Padula, Mario - 2011
We present an intertemporal consumption model of consumer investment in financial literacy. Consumers benefit from such investment because their stock of financial literacy allows them to increase the returns on their wealth. Since literacy depreciates over time and has a cost in terms of...
Persistent link: https://www.econbiz.de/10010308561