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Unshrouding Effects on Demand for a Costly Add-on: Evidence from Bank Overdrafts in Turkey
Alan, Sule; Cemalcilar, Mehmet; Karlan, Dean S.; … - C.E.P.R. Discussion Papers - 2015
Models of shrouding predict that firms lack incentives to compete on add-on prices. Working with a large Turkish bank to test SMS direct marketing promotions to 108,000 existing checking account holders, we find that messages promoting a large discount on the overdraft interest rate reduce...
Persistent link: https://www.econbiz.de/10011168904
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Electoral Competition through Issue Selection
Aragonés, Enriqueta; Castanheira, Micael; Giani, Marco - C.E.P.R. Discussion Papers - 2012
Politics must tackle multiple issues at once. In a first-best world, political competition constrains parties to prioritize issues according to the voters' true concerns. In the real world, the opposite also happens: parties manipulate voter priorities by emphasizing issues selectively during...
Persistent link: https://www.econbiz.de/10011083955
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The Role of Salience in Performance Schemes: Evidence from a Field Experiment
Englmaier, Florian; Roider, Andreas; Sunde, Uwe - C.E.P.R. Discussion Papers - 2012
tasks. We analyze the effects of the salience of incentives in a team production setting where the principal has an interest … incentive system without changing the incentive system. The results indicate that salience of incentives itself is statistically … and economically important for performance. We find that higher salience of incentives for quantity increases quantity …
Persistent link: https://www.econbiz.de/10011084038
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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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Secondary Issues and Party Politics: An Application to Environmental Policy
Anesi, Vincent; De Donder, Philippe - C.E.P.R. Discussion Papers - 2008
The paper develops a political economy model to assess the interplay between political party formation and an environmental policy dimension viewed as secondary to the redistributive dimension. We define being a secondary issue in terms of the intensity of preferences over this issue rather than...
Persistent link: https://www.econbiz.de/10005498009
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Party Formation and Racism
Anesi, Vincent; De Donder, Philippe - C.E.P.R. Discussion Papers - 2007
We develop a model where voters differ in their exogenous income and in their ideological views regarding what we call 'racism'. Electoral competition, modelled à la Levy (2004), takes place between (one or several) parties which propose platforms consisting of both an ideological and an...
Persistent link: https://www.econbiz.de/10005114242
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Personal Pensions with Risk sharing: Affordable, Adequate and Stable Private Pensions in Europe
Bovenberg, A Lans; Nijman, Theo E - C.E.P.R. Discussion Papers - 2015
Private pension provision faces the challenging task of providing stable income streams during retirement. The challenge has increased markedly in the last decades due to volatile financial markets, falling interest rates and the withdrawal of employers and external insurers as risk bearers of...
Persistent link: https://www.econbiz.de/10011252616
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Heterogeneous Responses and Aggregate Impact of the 2001 Income Tax Rebates
Misra, Kanishka; Surico, Paolo - C.E.P.R. Discussion Papers - 2011
This paper estimates the heterogeneous responses to the 2001 income tax rebates across endogenously determined groups of American households. Around 45% of the sample saved the entire value of the rebate. Another 20%, with low income and liquid wealth, spent a significant amount. The largest...
Persistent link: https://www.econbiz.de/10008925717
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A Model of the Consumption Response to Fiscal Stimulus Payments
Kaplan, Greg; Violante, Giovanni L - C.E.P.R. Discussion Papers - 2011
A wide body of empirical evidence, based on randomized experiments, finds that 20-40 percent of fiscal stimulus payments (e.g. tax rebates) are spent on non-durable household consumption in the quarter that they are received. We develop a structural economic model to interpret this evidence. Our...
Persistent link: https://www.econbiz.de/10009293985
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Public and Private Insurance with Costly Transactions
Bertola, Giuseppe; Koeniger, Winfried - C.E.P.R. Discussion Papers - 2010
We characterize how public insurance schemes are constrained by hidden financial transactions. When non-exclusive private insurance entails increasing unit transaction costs, public transfers are only partly offset by hidden private transactions, and can influence consumption allocation. We show...
Persistent link: https://www.econbiz.de/10008682880