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Heuristics Hypothesis (SHH) proposes that fast instinctive decision making promotes cooperation in social dilemmas. In this paper …
Persistent link: https://www.econbiz.de/10012992006
Recent microeconometric studies of taxpayer' responsiveness to taxation have shown that intensive margin labor supply and earnings elasticities typically are modest and sometimes equal to zero. However, a common view is that long-run responses might still be large since micro-estimates are...
Persistent link: https://www.econbiz.de/10013104173
interactions, players who make their choices fast and intuitively, relying on social heuristics, choose stag more often than other … Heuristics Hypothesis applied to stag hunt interactions …
Persistent link: https://www.econbiz.de/10012926992
We study the causal effect of a change in working times on overweight and obesity drawing from evidence from a national policy (the Aubry reform) implemented in the beginning of the past decade in France that reduced the work week from 39 to 35 hours, or 184 hours per year. We draw on two...
Persistent link: https://www.econbiz.de/10012898040
We describe an algorithm that is able to compute the solution of a singular linear difference system under rational … expectations. The algorithm uses the Generalized Schur Factorization and is illustrated by a simple example. …
Persistent link: https://www.econbiz.de/10008572539
We develop a behavioral macroeconomic model in which agents use simple but biased rules to forecast future output and inflation. This model generates endogenous waves of optimism and pessimism (“Animal Spirits”) that are generated by the correlation of biased beliefs. We contrast the...
Persistent link: https://www.econbiz.de/10005765824
We use a unique hand collected data set of 6 258 auctions from the online football manager game Hattrick to study micro-patterns of reserve price formation. We find that chosen reserve prices exhibit both, very sophisticated and “irrational” behavior by the sellers. Reserve prices pick up...
Persistent link: https://www.econbiz.de/10005766032
I distinguish two types of macroeconomic models. The first type are top-down models in which some or all agents are capable of understanding the whole picture and use this superior information to determine their optimal plans. The second type are bottom-up models in which all agents experience...
Persistent link: https://www.econbiz.de/10008534015
individuals use simple rules of thumb (heuristics) to forecast the future inflation and output gap. We compare this model with the …
Persistent link: https://www.econbiz.de/10005405712
in economic growth. Every macro-economic theory should attempt to explain these endemic business cycle movements. In this …
Persistent link: https://www.econbiz.de/10008833912