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Poverty and Welfare Measurement on the Basis of Prospect Theory

Jäntti, Markus; Kanbur, Ravi; Nyyssölä, Milla; … - CESifo - 2013

This paper examines the measurement of social welfare, poverty and inequality taking into account reference-dependence, loss aversion and diminishing sensitivity—aspects emphasized in Prospect Theory—to social welfare measurement. We suggest a new notion of equivalent income, the income...

Persistent link: https://www.econbiz.de/10010607471

A Parametric Analysis of Prospect Theory's Functionals for the General Population

Booij, Adam S.; Praag, Bernard M.S. Van; Kuilen, Gijs Van De - CESifo - 2009

This paper presents the results of an experiment that completely measures the utility function and probability weighting function for different positive and negative monetary outcomes, using a representative sample of N = 1935 from the general public. The results confirm earlier findings in the...

Persistent link: https://www.econbiz.de/10005000376

Health Values, Preference Inconsistency, and Insurance Demand

Wrede, Matthias - CESifo - 2005

Several empirical studies provide evidence that their actual health state affects people’s attitudes towards health and medical care in hypothetical health states. In the tradition of behavioural economics this paper considers the actual health state as a point of reference and builds a model...

Persistent link: https://www.econbiz.de/10005406000

Consistency of Higher Order Risk Preferences

Deck, Cary; Schlesinger, Harris - CESifo - 2012

Risk aversion (a 2nd order risk preference) is a time-proven concept in economic models of choice under risk. More recently, the higher order risk preferences of prudence (3rd order) and temperance (4th order) also have been shown to be quite important. While a majority of the population seems...

Persistent link: https://www.econbiz.de/10010602003

Culture and Tax Structures

König, Tobias; Wagener, Andreas - CESifo - 2012

We argue that societies with a stronger tendency towards postmaterialist life goals tilt the tax structure towards personal income taxes and away from corporate taxation. We provide empirical evidence for this correlation in OECD countries. To address endogeneity issues we then use an...

Persistent link: https://www.econbiz.de/10009651860

(Post-)Materialist Attitudes and the Mix of Capital and Labour Taxation

König, Tobias; Wagener, Andreas - CESifo - 2008

Social values shape policy outcomes. We examine the role of postmaterialism, a widely used concept in the social sciences, for the mix of capital and labour taxation chosen by a society. Following political scientist Inglehart, we define the degree of postmaterialism as the relative importance...

Persistent link: https://www.econbiz.de/10005094501

You Owe Me

Malmendier, Ulrike M.; Schmidt, Klaus - CESifo - 2012

In many cultures and industries gifts are given in order to influence the recipient, often at the expense of a third party. Examples include business gifts of firms and lobbyists. In a series of experiments, we show that, even without incentive or informational effects, small gifts strongly...

Persistent link: https://www.econbiz.de/10010877662

Does Corruption Erode Trust in Government? Evidence from a Recent Surge of Local Scandals in Spain

Solé-Ollé, Albert; Sorribas-Navarro, Pilar - CESifo - 2014

We examine whether a corruption scandal in which the incumbent is implicated undermines trust in local government. We … use a novel dataset containing information on local corruption scandals reported in Spain during the period 1999-2009, and … methods to improve the identification of the effect of corruption scandals on trust, comparing municipalities affected by a …

Persistent link: https://www.econbiz.de/10010877719

Immunity

Reddy, Karthik; Schularick, Moritz; Skreta, Vasiliki - CESifo - 2013

corruption where the judicial system is independent, this relationship has more ambiguous effects where the legal system is weak … and susceptible to politicization. These effects remain after controlling for standard determinants of corruption. …

Persistent link: https://www.econbiz.de/10010877744

A Crook is a Crook ... But is He Still a Crook Abroad? On the Effect of Immigration on Destination-Country Corruption

Dimant, Eugen; Krieger, Tim; Redlin, Margarete - CESifo - 2014

This paper analyzes the impact of migration on destination-country corruption levels. Capitalizing on a comprehensive … explore different channels through which corruption might migrate. We employ different estimation methods using Fixed Effects … find that while general migration has an insignificant effect on the destination country’s corruption level, immigration …

Persistent link: https://www.econbiz.de/10010948881