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Sahm, Marco; Weizsäcker, Robert K. von - CESifo - 2014

, agents can either decide rationally according to expected utility theory or intuitively according to case-based decision … theory. Rational decisions are more precise but create higher costs, though these costs may decrease over time. We find that …

Persistent link: https://www.econbiz.de/10011103391

The Difficult Case of Persuading Women: Experimental Evidence from Childcare

Galasso, Vincenzo; Profeta, Paola; Pronzato, Chiara; … - CESifo - 2013

Gender stereotypes are well established also among women. Yet, a recent literature suggests that learning from other women experience about the effects of maternal employment on children outcomes may increase female labor force participation. To further explore this channel, we design a...

Persistent link: https://www.econbiz.de/10010699659

The Prince and the Pauper: Fairness through Thick and Thin Veils of Ignorance

Leong, Chee Kian - CESifo - 2014

This paper uses a twin construct to test how the thickness of the veil of ignorance (VOI) affects the perception of fairness and redistributional choices. A fortune reversal is generally perceived to be fair behind a thick VOI, but deemed unfair behind a transparent VOI, particularly if one is...

Persistent link: https://www.econbiz.de/10010877830

Vacancy Referrals, Job Search, and the Duration of Unemployment: A Randomized Experiment

Engström, Per; Hesselius, Patrik; Holmlund, Bertil - CESifo - 2009

One goal of the public employment service is to facilitate matching between unemployed job seekers and job vacancies; another goal is to monitor job search so as to bring search efforts among the unemployed in line with search requirements. The referral of job seekers to vacancies is one...

Persistent link: https://www.econbiz.de/10005765729

A Test of the Law of Demand in a Virtual World: Exploring the Petri Dish Approach to Social Science

Castronova, Edward - CESifo - 2008

We report results of an experiment on prices and demand in a fantasy-based virtual world. A virtual world is a … fantasy environment were economically “normal.” Specifically, we tested whether fantasy gamers conform to the Law of Demand ….1 percent fewer of the potions, implying a demand elasticity of -0.431. This finding is well within the range one expects for …

Persistent link: https://www.econbiz.de/10005181660

Asset Returns, the Business Cycle, and the Labor Market: A Sensitivity Analysis for the German Economy

Heer, Burkhard; Maussner, Alfred - CESifo - 2011

We review the labor market implications of recent real-business-cycle models that successfully replicate the empirical equity premium. We document the fact that all models considered in this survey with the exception of Boldrin, Christiano, and Fisher (2001) imply a negative correlation of...

Persistent link: https://www.econbiz.de/10008872218

Numerical Solution of Dynamic Equilibrium Models under Poisson Uncertainty

Posch, Olaf; Trimborn, Timo - CESifo - 2011

We propose a simple and powerful numerical algorithm to compute the transition process in continuous-time dynamic equilibrium models with rare events. In this paper we transform the dynamic system of stochastic differential equations into a system of functional differential equations of the...

Persistent link: https://www.econbiz.de/10009020787

Tax-Benefit Systems in Europe and the US: Between Equity and Efficiency

Bargain, Olivier; Dolls, Mathias; Neumann, Dirk; … - CESifo - 2011

Whether observed differences in redistributive policies across countries are the result of differences in social preferences or efficiency constraints is an important question that paves the debate about the optimality of welfare regimes. To shed new light on this question, we estimate labor...

Persistent link: https://www.econbiz.de/10009228621

Cyclical Asset Returns in the Consumption and Investment Goods Sector

Heer, Burkhard; Maussner, Alfred; Süssmuth, Bernd - CESifo - 2013

We document the empirical fact that asset prices in the consumption-goods and investment-goods sector behave almost identically in the US economy. In order to derive the cyclical behavior of the equity returns in these two sectors, we consider a standard two-sector real-business cycle model with...

Persistent link: https://www.econbiz.de/10010690381

Intraday Anomalies and Market Efficiency: A Trading Robot Analysis

Caporale, Guglielmo Maria; Gil-Alana, Luis A.; Plastun, Alex - CESifo - 2014

One of the leading criticisms of the Efficient Market Hypothesis (EMH) is the presence of so-called “anomalies”, i.e. empirical evidence of abnormal behaviour of asset prices which is inconsistent with market efficiency. However, most studies do not take into account transaction costs. Their...

Persistent link: https://www.econbiz.de/10010764290

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