This paper analyzes the implications of potential offenders caring about their relative status. We establish that subjects' status concerns can result in multiple-equilibrium crime rates and may modify the standard comparative-statics results regarding how the crime rate changes in response to a...

Policies affecting the cost of energy use provide correct incentives for technology choices only if there is a market reward for energy efficiency. We provide clean evidence for market efficiency by considering how heating technologies capitalize into house values using detailed Finnish register...

We provide evidence for a beneficial welfare impact of a crime policy that is targeted at strengthening victim precaution. Regulation made application of the electronic engine immobilizer, a simple and low-cost anti-theft device, mandatory for all new cars sold within the European Union as of...

Using an intertemporal model of saving and capital accumulation we demonstrate that it is impossible for any binding minimum wage to increase the after-tax incomes of workers if the production function is Cobb-Douglas with constant returns to scale, or if there are no differences in ability...

Future market developments determine the fate of fossil fuel carbon currently conserved unilaterally. Dynamic fuel depletion naturally suggests leakage rates approaching 100%. Reasons for lower leakage differ from what limits rates in previous studies. Discounting reduces present-value leakage...

This paper analyzes long run outcomes resulting from adopting a binding minimum wage in a neoclassical model with perfectly competitive labour markets and capital accumulation. The model distinguishes between workers of heterogeneous ability and capitalists who do all the saving, and it entails...