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The tradeoff between redistribution and effort : evidence from the field and from the lab

Buch, Claudia M.; Engel, Christoph - 2012

Building on a theoretical model we test the hypothesis that effort choices and preferences for redistribution are simultaneously determined. Using cross-country panel data from the World Value Survey, we find that it is important to model preferences for redistribution and effort choices...

Persistent link: https://www.econbiz.de/10009535110

Existence of adaptively stable sunspot equilibria near an indeterminate steady state

Evans, George W.; Honkapohja, Seppo - 2001

(X), provided F´(X)> 1. We show that there exist Markov SSEs that are E-stable, and therefore locally stable under adaptive learning …

Persistent link: https://www.econbiz.de/10011398793

Expectational stability of resonant frequency sunspot equilibria

Evans, George W.; Honkapohja, Seppo - 2001

We consider the stability under adaptive learning of the complete set of solutions to the model when . In addition to … representation used by agents in the learning process. Only the finite-state Markov sunspot solutions can be stable under learning. …

Persistent link: https://www.econbiz.de/10011398912

Are stationary hyperinflation paths learnable?

Adam, Klaus; Evans, George W.; Honkapoja, Seppo - 2003

adaptive learning. We reconsider this issue and analyze the full set of solutions for the linearized model. Our main focus is … learning if agents can utilize contemporaneous data. However, in an economy populated by a mixture of agents, some of whom only …

Persistent link: https://www.econbiz.de/10011507885