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The Institutional Foundations of China’s Reforms and Development

Xu, Cheng-Gang - C.E.P.R. Discussion Papers - 2010

China’s economic reforms have resulted in spectacular growth and poverty reduction. However, China’s institutions look … ill-suited to achieve such a result, and they indeed suffer from serious shortcomings. To solve "China puzzle" this paper … analyses China’s institution - a regionally decentralized authoritarian system. The central government has control over …

Persistent link: https://www.econbiz.de/10008468688

Add-on Pricing, Naive Consumers, and the Hidden Welfare Costs of Education

Kosfeld, Michael; Schüwer, Ulrich - C.E.P.R. Discussion Papers - 2011

Previous research shows that firms shroud high add-on prices in competitive markets with naive consumers leading to inefficiency. We analyze the effects of regulatory intervention via educating naive consumers on equilibrium prices and welfare. Our model allows firms to shroud, unshroud, or...

Persistent link: https://www.econbiz.de/10009367427

Vague Lies: How to Advise Consumers When They Complain

Drugov, Mikhail; Troya Martinez, Marta - C.E.P.R. Discussion Papers - 2012

This paper analyzes the incentives of a seller to provide (un)biased and (im)precise advice about a complex product such as insurance, banking and telecommunication services. Misleading the buyers by biasing the advice upwards increases the revenues but also the expected fine imposed by the...

Persistent link: https://www.econbiz.de/10011083992

Financial Advice and Stock Market Participation

Georgarakos, Dimitris; Inderst, Roman - C.E.P.R. Discussion Papers - 2014

We introduce professional financial advice in households’ choice to hold risky financial assets. Consistent with the predictions from a formal model, we present evidence that households’ trust in financial advice only matters when their perceived own financial capability is low. Instead, for...

Persistent link: https://www.econbiz.de/10011084072

Discount Pricing

Armstrong, Mark; Chen, Yongmin - C.E.P.R. Discussion Papers - 2013

We investigate the marketing practice of framing a price as a discount from an earlier price. We discuss two reasons why a discounted price---rather than a merely low price---can make a consumer more willing to purchase. First, a high initial price can indicate the product is high quality....

Persistent link: https://www.econbiz.de/10011083448

A Policy Insight into the R&D-Patent Relationship

de Rassenfosse, Gaétan; van Pottelsberghe de la … - C.E.P.R. Discussion Papers - 2008

This paper investigates whether patent counts can be taken as indicators of macroeconomic innovation performance. The empirical model explicitly accounts for the two components of patenting output: research productivity and patent propensity. The empirical analysis aims at explaining the...

Persistent link: https://www.econbiz.de/10005792309

Diversity and Trade

Grossman, Gene; Maggi, Giovanni - C.E.P.R. Discussion Papers - 1998

We develop a competitive model of trade between countries with similar aggregate factor endowments. The trade pattern reflects differences in the distribution of talent across the labour forces of the two countries. The country with a relatively homogeneous population exports the good produced...

Persistent link: https://www.econbiz.de/10005792366

The French Zones D'Education Prioritaire: Much Ado About Nothing?

Bénabou, Roland; Kramarz, Francis; Prost, Corinne - C.E.P.R. Discussion Papers - 2005

We provide an assessment of the French ZEP (Zones d’Education Prioritaire), a programme started in 1982 that channels additional resources to schools in disadvantaged areas and encourages the development of new teaching projects. Focusing on middle-schools, we first evaluate the impact of the...

Persistent link: https://www.econbiz.de/10005124181

Intergenerational Transfer of Human Capital and Optimal Education Policy

Cremer, Helmuth; Pestieau, Pierre - C.E.P.R. Discussion Papers - 2004

This Paper studies the design of education policies in a setting of successive generations with heterogeneous individuals (high and low earning ability). Parents’ investment in education is motivated by warm-glow altruism and determines the probability that a child has high ability. Education...

Persistent link: https://www.econbiz.de/10005498169

Self-Enforcing Intergenerational Transfers and the Provision of Education

Anderberg, Dan; Balestrino, Alessandro - C.E.P.R. Discussion Papers - 2001

Due to the presence of borrowing constraints in the market, the cost of educating the young members of a family is often borne by the adults. We consider intrafamily financing of human capital under the assumptions that individuals are selfish and binding contracts are not feasible. Cooperation...

Persistent link: https://www.econbiz.de/10005666461

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