Showing 1 - 10 of 283
We find that contrary to common perception, cooperation as equilibrium of the infinitely repeated discounted prisoner's dilemma is in many relevant cases not very plausible, or at least questionable: for a significant subset of the payoff-discount factor parameter space cooperation equilibria...
Persistent link: https://www.econbiz.de/10010281240
In a laboratory experiment, we create relationships between pairs of anonymous subjects through a Prisoners' dilemma game. Thereafter the same subjects play a private values (sealed-bid double auction) bargaining game with or without communication. Communication substantially increases...
Persistent link: https://www.econbiz.de/10010281293
We compare how children aged 9-12 in Colombia and Sweden cooperate in a Prisoner's Dilemma. We introduce a new measurement device for cooperation that can be easily understood by children. There is some evidence of more cooperation in Sweden than in Colombia. Girls in Colombia are less...
Persistent link: https://www.econbiz.de/10010281444
We study the choice of drug for the treatment of high blood pressure (hypertension) in Sweden between 1988-1994. During this time period calcium antagonists and ACE-inhibitors increased their market shares at the expense of the older drugs diuretics and beta-blockers. We use a prescription micro...
Persistent link: https://www.econbiz.de/10010281210
In einem Ein-Perioden-Modell werden die Auswirkungen des deutschen Steuerrechts zur Kapitalbesteuerung auf das Kapitalmarktgleichgewicht untersucht. Dabei modellieren wir sowohl einen Unternehmenssektor, der der Körperschaftsteuer unterliegt, als auch Privatinvestoren, die...
Persistent link: https://www.econbiz.de/10010323930
Should the realized risk premium be taxed – or not? In a simple two asset portfolio model we analyze the optimal taxation rule when the economy faces aggregate risk. We show in an appropriate designed tax system, that the risk premium of the risky asset should be fully taxed if the households...
Persistent link: https://www.econbiz.de/10010323931
This paper considers simultaneous modelling of seasonality, slowly changing un- conditional variance and conditional heteroskedasticity in high-frequency fiancial returns. A new approach, called a seasonal SEMIGARCH model, is proposed to perform this by introducing multiplicative seasonal and...
Persistent link: https://www.econbiz.de/10010323932
The behavior of a hedge-fund manager naturally depends on her compensation scheme, her preferences, and constraints on her risk-taking. We propose a numerical method which can be used to analyze the impact of these influences. The model leads to several interesting and novel results concerning...
Persistent link: https://www.econbiz.de/10010323933
We show in a two-period world with endogenous savings and two assets, one of them exhibiting a stochastic return that an interest adjusted income tax is optimal. This tax leaves a safe component of interest income tax free and taxes the excess return with a special tax rate. There is no trade...
Persistent link: https://www.econbiz.de/10010323934
International financial markets are said to be excessively volatile due to destabilizing speculation and excessive market volume. Transactions taxes might help. From studying the literature we conclude that there must be an optimal market liquidity, which minimizes excess volatility. There are...
Persistent link: https://www.econbiz.de/10010323935