Showing 1 - 10 of 288
This paper examines the determinants of tax evasion under prospect theory. For prospect theory, reference dependence is a fundamental element (the utility function depends on gains and losses relative to a reference point and not on final wealths as in expected utility theory). In order to...
Persistent link: https://www.econbiz.de/10010933897
The explanation of social inequalities in education is still a debated issue in economics. Recent empirical studies tend to downplay the potential role of credit constraint. This article tests a different potential explanation of social inequalities in education, specifically that social...
Persistent link: https://www.econbiz.de/10010750819
We investigate the relation between welfare and preference satisfaction in economics, and show that the extension of the scope of economic analysis through the 20th century forces economists to question the validity of the preference satisfaction criterion as a normative criterion for evaluating...
Persistent link: https://www.econbiz.de/10010633780
In an often quoted article, Genesove and Mayer (2001) observe that house sellers are reluctant to sell at a loss, and attribute this finding to loss aversion. I show that loss aversion cannot explain this phenomenon.
Persistent link: https://www.econbiz.de/10010635268
I show that a loss averse consumer who must share her budget between two goods prefer allocations for which consumption equals reference point for at least one good. The phenomenon intensity depends on the curvature of the utility curve. These results are consistent with several stylized facts...
Persistent link: https://www.econbiz.de/10011026068
We provide new insights into the role of individual inventors in innovation. We focus our analysis on prolific … inventors in China, Japan, Korea and Taiwan. We analyse patents issued by the U.S. Patent and Trademark Office to thousands of …
Persistent link: https://www.econbiz.de/10010821506
particular industry - standards generate potential for market power far beyond the legal protection conferred by patents. Patent … that have fueled antitrust debates and economic research during the last decade. On the one hand, patent owners may be … a patent pool may actually be pro-competitive. After a brief introduction, we explain in the first part why, and on what …
Persistent link: https://www.econbiz.de/10008789156
According to a recent literature, the positive effect of competition is supposed to be growing with the proximity to … the technological frontier. Using a variety of indicators, the paper tests the effect of competition and regulation on … 1979-2003. Results show no evidence of a positive effect of competition growing with the proximity to the frontier. Two …
Persistent link: https://www.econbiz.de/10010738552
competition on R&D to the cost of innovation. The effect of competition on R&D is an inverted U-shape. However, the shape is … flatter and competition policy is therefore less relevant for innovation when innovations are relatively costly. Intuitively …, if innovations are costly for a firm, competitive shocks have to be significant to alter its innovation decisions …
Persistent link: https://www.econbiz.de/10010738755
results known in static frameworks. First, more competition pushes Neck and Neck firms to advertise more to attract a larger …
Persistent link: https://www.econbiz.de/10010738853