As illicit substances move into the legal product space, substitution patterns with legal products become more salient. In particular, marijuana legalization may have implications for the use of other legal "sin" goods. We estimate a structural model of multi-product use of illegal and legal...

Ähnlich wie in den anderen MOEL hatte auch in der Slowakei der Systemwechsel Anfang der 90er Jahre drastische Folgen für den Agrar- undb Ernährungssektor. Die Konsumenten reagierten auf die Abschaffung der Verbrauchersubventionen bei Milch und Milchprodukten mit deutlicher Einschränkung...

Despite significant progress in recent years, horizontal and vertical integration of the Lithuanian milk sector is not very much advanced. The primary sector is characterised by small-scale farming, the fragmentation of farmland and a low number of livestock per farms. These features cause...

Each time the Euro starts appreciating, a discussion on how painful this might hit European exporters arises in media, making politician and economists work out the ways to mitigate possible shocks. Still, in his recent study, Verheyen (2013a) using aggregated European exports to the US as an...

In this paper we relate individual risk attitude as elicited by binary lotteriesand certainty equivalents to market behavior. By analyzing 26 independentmarkets with a total of 280 participants we show that binary lottery choicesand certainty equivalents are poorly correlated. Only lottery...

This paper uses efficiency wage theory and the existence of community-based sharing to hypothesize that labor markets in developing countries have multiple equilibria - the same economy can be stuck at different levels of unemployment with different levels of wages. The model is meant for...

This study investigates the price setting behavior of Turkish industries based on the results of a survey that was conducted by the Central Bank of the Republic of Turkey. The results show that under normal conditions, the majority of the firms follow time-dependent pricing rule but when...

Kosovo had been a net exporter - at least of some - fruit and vegetables in the former Federal Republic of Yugoslavia before the civil war. Current reconstruction efforts therefore focus on restoring the past horticultural potential of the now independent province. This paper analyses the...

Digitale Technologien begünstigen den Einsatz einer dynamischen Preisgestaltung, also von Preisen, die für ein prinzipiell gleiches Produkt unangekündigt variieren. Dabei werden in der öffentlichen Diskussion unterschiedliche Ausgestaltungsformen dynamischer Preise oftmals vermischt, was...

Pay What You Want (PWYW) and Name Your Own Price (NYOP) are customer driven pricing mechanisms that give customers (some) pricing power. Both have been used in service industries with high fixed costs to price discriminate without setting a reference price. Their participatory and innovative...