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Cherniwchan, Jevan; Moreno Cruz, Juan - 2018

the hypothesis that the introduction of maize increased population density and Trans-Atlantic slave exports in precolonial … Africa. We find robust empirical support for these predictions. We also find little evidence to suggest maize increased … economic growth or reduced conflict. Our results suggest that rather than stimulating development, the introduction of maize …

Persistent link: https://www.econbiz.de/10011845203

Spatial differentiation and market power in input procurement : evidence from a structural model of the corn market

Jung, Jinho; Sesmero, Juan; Siebert, Ralph - 2020

We estimate the cost of transporting corn and the resulting degree of spatial differentiation among downstream firms that buy corn from upstream farmers and examine whether such differentiation softens competition enabling buyers to exert market power (defined as the ability to pay a price for...

Persistent link: https://www.econbiz.de/10012162628

The impact of entrepreneurial risk aversion on wages in general equilibrium

Feng, Ying; Rauch, James E. - 2015

One of the leading theories of entrepreneurship is that less risk averse individuals become entrepreneurs and more risk averse individuals become their employees. Kihlstrom and Laffont (1979) formalized this insight in an elegant and widely taught general equilibrium model. However, their model...

Persistent link: https://www.econbiz.de/10010519937

Closed-form integrated assessment and uncertainty

Traeger, Christian - 2015

The paper derives the optimal carbon tax in closed-form from an integrated assessment of climate change. The formula shows how carbon, temperature, and economic dynamics quantify the optimal mitigation effort. The model's descriptive power is comparable to numeric models used in policy advising....

Persistent link: https://www.econbiz.de/10011305430

Measuring time and risk preferences : realiability, stability, domain specificity

Wölbert, Eva; Riedl, Arno - 2013

To accurately predict behavior economists need reliable measures of individual time preferences and attitudes toward risk and typically need to assume stability of these characteristics over time and across decision domains. We test the reliability of two choice tasks for eliciting discount...

Persistent link: https://www.econbiz.de/10009772925

Export decision under risk

Sousa, José de; Disdier, Anne-Célia; Gaigné, Carl - 2016

Using firm and industry data, we establish two facts: (i) Uncertainty about demand conditions not only reduces export sales and exporting probabilities but also makes exports less sensitive to trade policy; (ii) the most productive exporters are more affected by higher industry-wide expenditure...

Persistent link: https://www.econbiz.de/10011547934

Risk aversion and the subjective time discount rate : a joint approach

Praag, Bernard M. S. van; Booij, Adam S. - 2003

In this paper we analyze a large sample of individual responses to six lottery questions. We derive a simultaneous estimate of risk aversion and the time preference discount rate per individual. This can be done because the consumption of a large prize is smoothed over a larger time period. It...

Persistent link: https://www.econbiz.de/10011507761

Does risk aversion accelerate optimal forest rotation under uncertainty?

Alvarez, Luis H. R.; Koskela, Erkki - 2004

We use a Wicksellian single rotation framework to analyze the impact of the intertemporally fluctuating and stochastic mean-reverting interest rate process on the optimal harvesting threshold and thereby the expected length of the rotation period, when forest value is also stochastic following...

Persistent link: https://www.econbiz.de/10011450936

Pay few subjects but pay them well : cost-effectiveness of random incentive systems

March, Christoph; Ziegelmeyer, Anthony; Greiner, Ben; … - 2016

Most large-scale economic experiments use a between-subjects random incentive system-BRIS-which selects a subset of the participants at random and offers real payment only to the selected participants. We evaluate the relative impact of nominal payoffs and the selection probability on the...

Persistent link: https://www.econbiz.de/10011500169

Global warming and a potential tipping point in the Atlantic thermohaline circulation : the role of risk aversion

Belaia, Mariia; Funke, Michael; Glanemann, Nicole - 2014

Common integrated assessment models produce the counterintuitive result that higher risk aversion does not lead to stronger near-term abatement. This paper re-examines this result with a DICE model that is fully coupled with a thermohaline circulation model. It also features Epstein-Zin utility...

Persistent link: https://www.econbiz.de/10010388571

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