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Other-Regarding Preferences in General Equilibrium
Dufwenberg, Martin; Heidhues, Paul; Kirchsteiger, Georg; … - C.E.P.R. Discussion Papers - 2008
We study competitive market outcomes in economies where agents have other-regarding preferences. We identify a separability condition on monotone preferences that is necessary and sufficient for one's own demand to be independent of the allocations and characteristics of other agents in the...
Persistent link: https://www.econbiz.de/10005114265
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General Equilibrium and the Emergence of (Non) Market Clearing Trading Institutions
Alos-Ferrer, Carlos; Kirchsteiger, Georg - C.E.P.R. Discussion Papers - 2006
We consider a pure exchange economy, where for each good several trading institutions are available, only one of which is market-clearing. The other feasible trading institutions lead to rationing. To learn on which trading institutions to coordinate, traders follow behavioural rules of thumb...
Persistent link: https://www.econbiz.de/10005666746
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Disorganization in the Transition Process: Firm-Level Evidence from Ukraine
Konings, Jozef; Walsh, Patrick Paul - C.E.P.R. Discussion Papers - 1998
Most post-communist economies are characterized by an initial collapse in aggregate output. Blanchard and Kremer (1997) and Roland and Verdier (1997) have recently modelled supply side distortions (disorganization in the links of production) that can lead to a short-term output contraction after...
Persistent link: https://www.econbiz.de/10005662136
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Seemingly Irrelevant Events Affect Perceptions and Expectations - The FIFA World Cup 2006 as a Natural Experiment
Dohmen, Thomas J; Falk, Armin; Huffman, David; Sunde, Uwe - C.E.P.R. Discussion Papers - 2006
Prominent economic theories have emphasized the role of commonly held perceptions and expectations for determining macroeconomic outcomes. A key empirical question is how such collectively held beliefs are formed. We use the FIFA World Cup 2006 as a natural experiment. We provide direct evidence...
Persistent link: https://www.econbiz.de/10005791748
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Rational Inattention to Subsidies for Charitable Contributions
Scharf, Kimberley; Smith, Sarah L. - C.E.P.R. Discussion Papers - 2010
Recent evidence suggests that individuals do not always take notice of tax attributes when making their choices. This paper focuses on the case of tax relief for charitable contributions. Although a fully rational donor should view a matched payment to the receiving charity and a tax rebate of...
Persistent link: https://www.econbiz.de/10008468705
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Individual Risk Attitudes: New Evidence from a Large, Representative, Experimentally-Validated Survey
Dohmen, Thomas J; Falk, Armin; Huffman, David; Schupp, … - C.E.P.R. Discussion Papers - 2006
This paper presents new evidence on the distribution of risk attitudes in the population, using a novel set of survey questions and a representative sample of roughly 22,000 individuals living in Germany. Using a question that asks about willingness to take risks in general, on an 11-point...
Persistent link: https://www.econbiz.de/10005123605
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Common Agency and Coordination: General Theory and Application to Tax Policy
Dixit, Avinash K; Grossman, Gene; Helpman, Elhanan - C.E.P.R. Discussion Papers - 1996
We develop a model of common agency with complete information and general preferences with non-transferable utility, and prove that the principals’ Nash equilibrium in truthful strategies implements an efficient action. We apply this theory to construct a positive model of public finance,...
Persistent link: https://www.econbiz.de/10005136565
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Globalization and Cooperative Relations
Spagnolo, Giancarlo - C.E.P.R. Discussion Papers - 2002
Globalization – improved access to integrated, anonymous markets – is claimed to crowd out cooperative relations: from …’ intertemporal preferences and their access to markets interact and affect their ability to sustain generalized cooperative relations …. Access to goods’ markets and ‘money’ may then hinder cooperation by undoing these effects, allowing agents to save and …
Persistent link: https://www.econbiz.de/10005136656
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Ain’t it "Suite"? Bundling in the PC Office Software Market
Gandal, Neil; Markovich, Sarit; Riordan, Michael - C.E.P.R. Discussion Papers - 2012
Our paper examines the importance of office suites for the evolution of the PC office software market in the 1990s. We develop a discrete choice model of product differentiation that enables us to estimate correlation in consumer preferences across spreadsheets and word processors. Estimation...
Persistent link: https://www.econbiz.de/10011083678
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Theories of Fairness and Reciprocity - Evidence and Economic Applications
Fehr, Ernst; Schmidt, Klaus M. - C.E.P.R. Discussion Papers - 2001
Most economic models are based on the self-interest hypothesis that assumes that all people are exclusively motivated by their material self-interest. In recent years experimental economists have gathered overwhelming evidence that systematically refutes the self-interest hypothesis and suggests...
Persistent link: https://www.econbiz.de/10005656392