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Friehe, Tim; Mechtel, Mario - CESifo - 2013

This paper shows that households with positional concerns and convex status utility use gambling to attempt leapfrogging in the social hierarchy. We test this theoretical prediction relying on household data that is representative for Germany, proxying the status orientation of households by...

Persistent link: https://www.econbiz.de/10010634081

Growth, Expectations, and Tariffs

Honkapohja, Seppo; Turunen-Red, Arja H.; Woodland, Alan D. - CESifo - 2011

by growth expectations. Adaptive learning dynamics determine country-specific short run transition paths. Countries … differ in basic structural parameters and may impose tariffs on imports of capital goods. Numerical experiments illustrate … adjustment dynamics that follow the use of tariffs. We show that countries that limit trade in capital goods can experience …

Persistent link: https://www.econbiz.de/10009020102

Centralised Labour Market Negotiations

Müller, Julia; Upmann, Thorsten - CESifo - 2013

This paper contributes to the analysis of central vs. decentral (firm-level) labour market negotiations. We argue that during negotiations on a central scale employers and employees plausibly take output market effects into account, while they behave competitively during firm-level negotiations....

Persistent link: https://www.econbiz.de/10010711144

Exit and Power in General Equilibrium

Gersbach, Hans; Haller, Hans - CESifo - 2008

We integrate individual power in groups into general equilibrium models. The relationship between group formation, resource allocation, and the power of specific individuals or particular sociological groups is investigated. We introduce, via an illustrative example, three appealing concepts of...

Persistent link: https://www.econbiz.de/10005766012

French CEO Compensations: What is the Cost of a Mandatory Upper Limit?

Llense, Fabienne - CESifo - 2008

In the middle of the nineties, the sharp increase in globalisation and the last privatization wave have promoted the shaping of a market for executives in France. Characteristics of this market are estimated for France and a competitive model is simulated in order to assess to what extend such a...

Persistent link: https://www.econbiz.de/10005405777

Competitive Rational Expectations Equilibria without Apology

Kovalenkov, Alexander; Vives, Xavier - CESifo - 2008

In a standard financial market model with asymmetric information with a finite number N of risk-averse informed traders, competitive rational expectations equilibria provide a good approximation to strategic equilibria as long as N is not too small: equilibrium prices in eachsituation converge...

Persistent link: https://www.econbiz.de/10005405996

International Antitrust Enforcement and Multi-Market Contact

Choi, Jay Pil; Gerlach, Heiko - CESifo - 2009

This paper analyzes international antitrust enforcement when multinational firms operate in several markets with antitrust authorities in each market. We are concerned with how the sustainability of collusion in one local market is affected by the existence of collusion in other markets when...

Persistent link: https://www.econbiz.de/10005051554

Hidden Skewness: On the Difficulty of Multiplicative Compounding under Random Shocks

Ensthaler, Ludwig; Nottmeyer, Olga; Weizsäcker, Georg; … - CESifo - 2014

Multiplicative growth processes that are subject to random shocks often have a skewed distribution of outcomes. In a number of incentivized laboratory experiments we show that a large majority of participants either strongly underestimate skewness or ignore it completely. Participants...

Persistent link: https://www.econbiz.de/10010764292

The Importance of Financial Resources for Student Loan Repayment

Lochner, Lance; Stinebrickner, Todd; Suleymanoglu, Utku - CESifo - 2013

Government student loan programs must balance the need to enforce repayment among borrowers who can afford to make their payments with some form of forgiveness or repayment assistance for those who cannot. Using unique survey and administrative data from the Canada Student Loan Program, we show...

Persistent link: https://www.econbiz.de/10010723529

Crowding Out of Long-Term Care Insurance: Evidence from European Expectations Data

Costa-i-Font, Joan; Courbage, Christophe - CESifo - 2014

Long-term care (LTC) is the largest insurable risk that old-age individuals face in most western societies. However, the demand for LTC insurance is still ostensibly small in comparison to the financial risk, which is reflected in the formation of expectations of insurance coverage. One...

Persistent link: https://www.econbiz.de/10010812493