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altruism. Instead, we posit that social reciprocity is a triggered normative response. Our experiment confirms the existence of …
Persistent link: https://www.econbiz.de/10005823004
Economists traditionally tackle normative problems by computing optimal policy, i.e. the one that maximizes a social welfare function. In practice, however, a succession of marginal changes to a limited number of policy instruments are implemented, until no further improvement is feasible. I...
Persistent link: https://www.econbiz.de/10005822405
This paper presents a model of the labor market in which unemployed workers are uncertain about their relative ability to find a job. Unsuccessful search induces individuals to revise their beliefs downwards. Once self-confidence is sufficiently low, workers become discouraged and give up on...
Persistent link: https://www.econbiz.de/10005822513
feedback as the main driving force of learning to play strategically and to form beliefs that accurately predict the behavior …
Persistent link: https://www.econbiz.de/10005822932
levels. This paper builds a model of human capital and growth that incorporates an adaptive learning mechanism to capture the …, the learning mechanism, influenced by the agents' priors and cultural bias, may impart low human capital investment for … extended periods. Policies that can speed up the learning process are examined and it is found that faster rates of growth can …
Persistent link: https://www.econbiz.de/10009149147
We analyze a long-term contracting problem involving common uncertainty about a parameter capturing the productivity of the relationship, and featuring a hidden action for the agent. We develop an approach that works for any utility function when the parameter and noise are normally distributed...
Persistent link: https://www.econbiz.de/10008727782
economics and public policy. We conducted a laboratory experiment to investigate the effects of stress on financial decision …
Persistent link: https://www.econbiz.de/10011105080
We propose an integrated framework to discuss the empirical literature on the local determinants of agglomeration effects. We start by presenting the theoretical mechanisms that ground individual and aggregate empirical specifications. We gradually introduce static effects, dynamic effects, and...
Persistent link: https://www.econbiz.de/10010959614
This paper investigates the impact of working while in school on learning outcomes through the use of a unique micro … learning outcomes is addressed through the use of a difference-in-difference estimator and it is shown that the results are … robust. A negative and significant effect of working on learning outcomes in both math and Portuguese is found. The effects …
Persistent link: https://www.econbiz.de/10010884083
of play towards Nash equilibrium in repeated strategic interactions. We study behavior in a p-beauty contest experiment … understand better how subjects with different cognitive abilities learn differently, we estimate a structural model of learning … ability to that of character skills, and find that both cognition and personality affect behavior and learning. More agreeable …
Persistent link: https://www.econbiz.de/10010886141