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The Behavioral Life-Cycle Theory Of Consumer Behavior: Survey Evidence

Graham, Fred; Isaac, Alan G. - EconWPA - 2000

We find that survey evidence on faculty pay-cycle choice strongly contradicts the neoclassical theory of consumer behavior. It is more favorable to the behavioral life-cycle theory of Shefrin and Thaler (1988).

Persistent link: https://www.econbiz.de/10005134966

Wage Rigidity in a Competitive Incomplete Contract Market

Fehr, Ernst; Falk, Armin - EconWPA - 2003

Do employers and workers underbid prevailing wages if there is unemployment? Do employers take advantage of workers’ underbidding by lowering wages? We hypothesize that under conditions of incomplete labor contracts wage levels may positively affect workers’ propensity to cooperate. This, in...

Persistent link: https://www.econbiz.de/10005076549

Fair pay and a Wagebill Argument for Wage Rigidity and Excessive Employment Variability

Thomas, Jonathan P. - EconWPA - 2001

This paper considers a two-period optimal contracting model in which firms make new hires in the second period subject to the constraint that they cannot pay discriminate either against or in favor of the new hires. Under an assumption on the information available to workers, it is shown that...

Persistent link: https://www.econbiz.de/10005125820

Fair pay and a Wagebill Argument for Wage Rigidity and Excessive Employment Variability

Thomas, Jonathan P. - EconWPA - 2000

This paper considers a two-period optimal contracting model in which firms make new hires in the second period subject to the constraint that they cannot pay discriminate either against or in favour of the new hires. Under an assumption on the information available to workers, it is shown that...

Persistent link: https://www.econbiz.de/10005556751

Dismissals and Match-Specific Rents

Black, Dan A.; Loewenstein, Mark A. - EconWPA - 1996

Labor contracts that result in dismissals are quite common in the real world. The question that arises is why employers do not just offer reduced wages instead of asking workers with low realized productivity to leave. This paper argues that such behavior can be explained by workers'...

Persistent link: https://www.econbiz.de/10005556777

Social norms and human cooperation

Fehr, Ernst; Fischbacher, Urs - EconWPA - 2004

The existence of social norms is one of the big unsolved problems in social cognitive science. Although no other concept is invoked more frequently in the social sciences, we still know little about how social norms are formed, the forces determining their content, and the cognitive and...

Persistent link: https://www.econbiz.de/10005076756

Sustaining Cooperation in trust Games

McCabe, Kevin; Rigdon, Mary; Smith, Vernon - EconWPA - 2004

It is well-known in evolutionary game theory that population clustering in Prisoner Dilemma games allows some cooperative strategies to invade populations of stable defecting strategies. We adapt this idea of population clustering to a two-person trust game. Players are typed based on their...

Persistent link: https://www.econbiz.de/10005125594

Reciprocity in the FTAA: The Roles of Market Access, Institutions and Negotiating Capacity

Nogues, Julio J. - EconWPA - 2005

Latin America will support the FTAA if it sees this project as a way of creating the conditions for improved growth performance and declining poverty. In searching for these objectives with effectiveness, this paper calls attention to some of the conditions that are necessary in order for...

Persistent link: https://www.econbiz.de/10005062629

Reciprocal fairness and gift exchange practices in the labor

Mahuteau, Stephane - EconWPA - 2002

. We use the concept of Sequential Reciprocity Equilibrium developed by Dufwenberg & Kirchsteiger (1998) to incorporate … players’ preferences for reciprocity in their utility function. We model the labor relation through a one shot sequential gift … by reciprocity. Even though intentions act as a catalyst of opportunistic behaviors, the respect of the equity norm makes …

Persistent link: https://www.econbiz.de/10005408349

Regulatory Pricing Policies to Neutralize Network Dominance

Economides, Nicholas; Lopomo, Giuseppe; Woroch, Glenn - EconWPA - 1997

charges for terminating calls, reciprocity eliminates differences between internal and cross-network prices and makes monopoly …

Persistent link: https://www.econbiz.de/10005412944