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Optimal Monetary Policy when Agents are Learning
Molnár, Krisztina; Santoro, Sergio - CESifo - 2010
We derive the optimal monetary policy in a sticky price model when private agents follow adaptive learning. We show … order to facilitate private sector learning and thus ease the future intratemporal inflation-output gap trade-offs. The … policy recommendation is robust: the welfare loss entailed by the optimal policy under learning if the private sector …
Persistent link: https://www.econbiz.de/10008596587
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Strategic Choices for Redistribution and the Veil of Ignorance: Theory and Experimental Evidence
Gerber, Anke; Nicklisch, Andreas; Voigt, Stefan - CESifo - 2013
We provide experimental evidence on the emergence of redistributive societies. Individuals first vote on redistribution by feet and then learn their productivity and invest. We vary the individuals’ information about their productivities at the time when they choose a distribution rule and...
Persistent link: https://www.econbiz.de/10010877661
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How do Incentives Affect Creativity?
Eckartz, Katharina; Kirchkamp, Oliver; Schunk, Daniel - CESifo - 2012
We compare performance in a word based creativity task under three incentive schemes: a flat fee, a linear payment and a tournament. Furthermore, we also compare performance under two control tasks (Raven’s advanced progressive matrices or a number-adding task) with the same treatments. In all...
Persistent link: https://www.econbiz.de/10010877854
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Behavioral and Experimental Economics Can Inform Public Policy: Some Thoughts
Riedl, Arno - CESifo - 2009
Experimental and behavioral economics are well established branches in the economic science. This essay presents and discusses some results and behavioral regularities from these fields which are of potential importance for public policy. After a brief introduction of what experimental and...
Persistent link: https://www.econbiz.de/10008533977
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The Value of Non-Binding Announcements in Public Goods Experiments: Some Theory and Experimental Evidence
Berlemann, Michael; Dittrich, Marcus; Markwardt, Gunther - CESifo - 2004
In this paper we present three simple theoretical models to explain the influence of the possibility to make non-binding announcements on investment behaviour in public goods settings. Our models build on the idea that voluntary contributions to the supply of a public good might be motivated by...
Persistent link: https://www.econbiz.de/10005094302
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Overconfidence in Investment Decisions: An Experimental Approach
Dittrich, Dennis; Güth, Werner; Maciejovsky, Boris - CESifo - 2001
We experimentally test overconfidence in investment decisions by offering participants the possibility to substitute their own for alternative investment choices. Overall, 149 subjects participated in two experiments, one with just one risky asset, the other with two risky assets. Overconfidence...
Persistent link: https://www.econbiz.de/10005181404
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Are Income and Consumption Taxes ever really Equivalent? Evidence from a Real-Effort Experiment with Real Goods
Blumkin, Tomer; Ruffle, Bradley J.; Ganun, Yosef - CESifo - 2008
The public finance literature demonstrates the equivalence between consumption and labor income (wage) taxes. We construct an environment in which individuals make real labor-leisure choices and spend their earned income on real goods. We use this experimental framework to test whether a labor...
Persistent link: https://www.econbiz.de/10005406166
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Strategic Delegation in Experimental Markets
Huck, Steffen; Müller, Wieland; Norman, Hans-Theo - CESifo - 2000
In this experiment, we analyze strategic delegation in a Cournot duopoly. Owners can choose among two different …, while the second contract gives an additional sales bonus. Although theory predicts the second contract to be chosen, it is …
Persistent link: https://www.econbiz.de/10005406221
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Negotiating to Avoid "Gradual" versus "Dangerous" Climate Change: An Experimental Test of Two Prisoners' Dilemma
Barrett, Scott; Dannenberg, Astrid - CESifo - 2014
According to the Framework Convention on Climate Change, global collective action is needed to stabilize “greenhouse gas concentrations in the atmosphere at a level that would prevent dangerous [our emphasis] anthropogenic interference with the climate system.” The Framework Convention thus...
Persistent link: https://www.econbiz.de/10010734324
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On the Sensitivity of Collective Action to Uncertainty about Climate Tipping Points
Barrett, Scott; Dannenberg, Astrid - CESifo - 2014
threshold is uncertain. Theory suggests that behavior should differ dramatically either side of a dividing line for threshold …
Persistent link: https://www.econbiz.de/10010743452