Showing 1 - 10 of 19
Commodity prices are usually very slow to recover from adverse shocks. This is one of the reasons why it has proven so difficult either to smooth their effect or to stabilize them, and why it is sometimes argued that they should behave as if shocks were permanent. There is no reason however why...
Persistent link: https://www.econbiz.de/10005656239
This paper uses survey data from 13 countries to document the economic lives of the poor (those living on less than $2 dollar per day per capita at purchasing power parity) or the extremely poor (those living on less than $1 dollar per day). We describe their patterns of consumption and income...
Persistent link: https://www.econbiz.de/10005497941
redistributions enables the beneficiaries to educate their children and thus to escape from poverty and to overcome child labour. We … inequality among the poor is unavoidable. Finally, a successful land reform allows for the transition of a society from an … agriculture-based state of poverty to a human capital-based developed economy. …
Persistent link: https://www.econbiz.de/10005661874
This paper investigates physiological responses to perceptions of unfair pay. In a simple principal agent experiment agents produce revenue by working on a tedious task. Principals decide how this revenue is allocated between themselves and their agents. In this environment unfairness can arise...
Persistent link: https://www.econbiz.de/10009144731
liberalization on inequality are correlated with relative factor endowments. Trade liberalization is associated with increases in … inequality in countries well-endowed in highly skilled workers and capital or with workers that have very low education levels …, and in countries relatively well-endowed in mining and fuels while it is associated with decreases in inequality in …
Persistent link: https://www.econbiz.de/10005114466
A bargaining solution balances fairness and efficiency if each player's payoff lies between the minimum and maximum of the payoffs assigned to him by the egalitarian and utilitarian solutions. In the 2-person bargaining problem, the Nash solution is the unique scale-invariant solution satisfying...
Persistent link: https://www.econbiz.de/10009324194
A bargaining solution guarantees minimal equity if each player's payoff is at least as large as the minimum of the payoffs assigned to him by the equal-gain (i.e., egalitarian) and equal-loss solutions. The Kalai-Smorodinsky solution is the unique scale-invariant 2-person solution with this...
Persistent link: https://www.econbiz.de/10009368519
This paper develops a simple theoretical model that can be implemented to estimate the willingness to pay for distributive justice. We derive a formula that allows one to recover the willingness to pay for distributive justice from the estimated coefficients of a probit regression and fiscal...
Persistent link: https://www.econbiz.de/10005792214
We present an economic experiment on network formation, in which subjects can decide to form links to one another. Direct links are costly but being connected is valuable. The game-theoretic basis for our experiment is the model of Bala and Goyal (2000). They distinguish between two scenarios...
Persistent link: https://www.econbiz.de/10005792485
In this Paper we show that a simple model of fairness preferences explains major experimental regularities of common pool resource (CPR) experiments. The evidence indicates that in standard CPR games without communication and without sanctioning possibilities inefficient excess appropriation is...
Persistent link: https://www.econbiz.de/10005123667