Similar Search Results

Layard, Richard; Mayraz, Guy; Nickell, Stephen J - London School of Economics (LSE) - 2007

In normative public economics it is crucial to know how fast the marginal utility of income declines as income …, using a number of assumptions, we are able to estimate the elasticity of marginal utility with respect to income. We obtain …

Persistent link: https://www.econbiz.de/10011071383

Money, well-being and loss aversion: does an income loss have a greater effect on well-being than an equivalent income gain?

Banks, James; Brown, Gordon D.A.; Boyce, Christopher J.; … - London School of Economics (LSE) - 2014

Higher income is associated with greater well-being, but do income gains and losses impact on well-being differently … falls in income have a larger impact on well-being than equivalent income gains. The effect is not explained by the … diminishing returns to well-being of income. Our findings show that loss aversion applies to experienced losses, counteracting …

Persistent link: https://www.econbiz.de/10011126714

Financial contagion through capital connections: a model of the origin and spread of bank panics

Dasgupta, Amil - London School of Economics (LSE) - 2002

Financial contagion is modeled as an equilibrium phenomenon in a dynamic setting with incomplete information and multiple banks. The equilibrium probability of bank failure is uniquely determined. We explore how the cross holding of deposits motivated by imperfectly correlated regional liquidity...

Persistent link: https://www.econbiz.de/10010884582

No escape? The co-ordination problem in heritage preservation

Ahlfeldt, Gabriel M.; Holman, Nancy - London School of Economics (LSE) - 2013

Conservation areas (CAs) are among the most restrictive English planning policies. Designation implies a significant limitation of owners’ control over the shape and appearance of their properties. The policy, however, can also be argued to solve a sort of ‘prisoners’ dilemma’, in which...

Persistent link: https://www.econbiz.de/10010745091

Modelling the economic interaction of agents with diverse abilities to recognise equilibrium patterns

Piccione, Michele; Rubinstein, Ariel - London School of Economics (LSE) - 2002

We model differences among agents in their ability to recognise temporal patterns of prices. Using the concept of DeBruijin sequences in two dynamic models of markets, we demonstrate the existence of equilibria in which prices fluctuate in a pattern that is independent of the fundamentals and...

Persistent link: https://www.econbiz.de/10010745837

Book review: beyond individual choice: teams and frames in Game Theory, by Michael Bacharach, edited by Natalie Gold and Robert Sugden

Rothe, Jorn - London School of Economics (LSE) - 2007

Persistent link: https://www.econbiz.de/10010746552

A note on measuring voters’ responsibility

Felsenthal, Dan S.; Machover, Moshé - London School of Economics (LSE) - 2009

We consider a singular event of the following form: in a simple voting game, a particular division of the voters resulted in a positive outcome. We propose a plausible measure that quantifies the causal contribution of any given voter to the outcome. This measure is based on a conceptual...

Persistent link: https://www.econbiz.de/10011071418

Can family-support policies help explain differences in working hours across countries?

Sila, Urban - London School of Economics (LSE) - 2009

It has been suggested in the literature that taxes and subsidies play an important role in explaining the differences in working hours across countries. In this paper I test whether public programmes for family support play a role in explaining this variation. I analyse two types of policies:...

Persistent link: https://www.econbiz.de/10010884607

Modelling vulnerability in the UK

Bandyopadhyay, Sanghamitra; Cowell, Frank - London School of Economics (LSE) - 2007

In this paper we examine the concept of "vulnerability" (Townsend 1994) within the context of income mobility of the … shocks have the greatest impact on consumption, in comparison to shocks to the income stream. Quantile-specific estimates … to the income stream. The estimates are found to be robust to household composition and year-specific shocks. …

Persistent link: https://www.econbiz.de/10010928683

Static and dynamic poverty in Spain, 1993-2000

Barcena, E; Cowell, Frank - London School of Economics (LSE) - 2006

We focus on the statics and dynamics of poverty in Spain using data from the first eight waves of the European Community Household Panel from 1994 to 2001, a period not sufficiently covered by recent literature. The results confirm the pattern of poverty changes noted by other authors for the...

Persistent link: https://www.econbiz.de/10010745472