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The Life Cycle Model of Consumption and Saving

Browning, Martin; Crossley, Thomas F. - Department of Economics, McMaster University - 2000

The life-cycle model is the standard framework which economists use to think about the intertemporal allocation of time, money and effort. The model suggests that households should `smooth' expenditures. One of the strengths of the model is that it provides a single framework which integrates...

Persistent link: https://www.econbiz.de/10005763303

The Changing Economic Circumstances of the Older Population: A Cohort Analysis

Denton, Frank T.; Spencer, Byron G. - Department of Economics, McMaster University - 1996

distribution, the importance of government transfer payments, consumption levels and patterns of saving, the extent of home …

Persistent link: https://www.econbiz.de/10005763374

The Changing Economic Circumstances of the Older Population: A Cohort Analysis

Denton, F.T.; Spencer, B.G. - Department of Economics, McMaster University - 1996

distribution, the importance of government transfer payments, consumption levels and patterns of saving, the extent of home …

Persistent link: https://www.econbiz.de/10005196130

Exercising Empowerment in an Investment Environment

Gomaa, Mohamed; KiridaranKanagaretnam; Mestelman, Stuart; … - Department of Economics, McMaster University - 2014

Using data from a laboratory-controlled environment we analyze the decisions of principals to veto the allocations of grossed-up investments proposed by their agents in a modified trust game. We also analyze the changes in the surplus associated with the introduction of empowerment and the...

Persistent link: https://www.econbiz.de/10010940822

Preferences over the Fair Division of Goods: Information, Good, and Sample Effects in a Health Context

Hurely, Jeremiah; Buckley, Neil; Cuff, Katherine; … - Department of Economics, McMaster University - 2009

Greater recognition by economists of the influential role that concern for distributional equity exerts on decision making in a variety of economic contexts has spurred interest in empirical research on the public judgments of fair distribution. Using a stated-preference experimental design,...

Persistent link: https://www.econbiz.de/10005763353

Linear Public Goods Experiments: A Meta-Analysis

Zelmer, Jennifer - Department of Economics, McMaster University - 2001

cooperation in standard linear public goods experiments using the voluntary contributions mechanism. Potentially relevant … experiments were identified through searches of EconLit, the Internet Documents in Economics Access Service (IDEAS), and a survey … totality of the available research evidence. More consistent reporting of the results of experiments would greatly improve the …

Persistent link: https://www.econbiz.de/10005181105

Transparency, Empowerment, Disempowerment and Trust in an Investment Environment

Kanagaretnam, Kiridaran; Mestelman, Stuart; Nainar, S. … - Department of Economics, McMaster University - 2013

In a laboratory-controlled environment we provide experimental evidence on the effects of transparency (complete over incomplete information) and empowerment on trust (investment by a principal) and trustworthiness (reciprocal behavior of an agent). We implement a simple two-person investment...

Persistent link: https://www.econbiz.de/10010699611

From growth to cycles through beliefs

Gunn, Christopher M. - Department of Economics, McMaster University - 2011

I present a theoretical model where the economy endogenously adopts the technological ideas of a slowly evolving technological frontier, and show that the presence of a "technological gap" between unadopted ideas and current productivity can lead to multiple equilibria and therefore the...

Persistent link: https://www.econbiz.de/10009147349

Pro-cyclical Solow Residuals without Technology Shocks

Clarke, Adnrew J.; Johri, Alok - Department of Economics, McMaster University - 2008

Most Real Business Cycle models have a hard time jointly explaining the twin facts of strongly pro-cyclical Solow residuals and extremely low correlations between wages and hours. We present a model that delivers both these results without using exogenous variation in total factor productivity...

Persistent link: https://www.econbiz.de/10005635258

Do Groups Fall Prey to the Winner's Curse?

Casari, Marco; Jackson, Christine; Zhang, Jingjing - Department of Economics, McMaster University - 2009

In an experiment, we studied how small groups tackle a company takeover game, a task where participants deciding in isolation frequently exhibit the winner’s curse. We found that groups of three members, who could exchange opinions and chat, substantially reduced the winner's curse and...

Persistent link: https://www.econbiz.de/10010614157