In the standard neoclassical model consumers use all the available information and the demand for goods depends exclusively on preferences and prices whereas other spurious information do not play any role. In the market for books, we investigate if - in contrast to the standard model - the...

This paper aims to explore wage differentials between employees in three sub-industries of the cultural industries compared with the main (1-digit level) industry to which they belong. We use data from the Wage Indicator Questionnaire 2001/2002, which includes information on 12,757 employees in...

This paper explores the extent to which workers are willing to trade hours worked for leisure time shared with their spouse. This parameter is essential to properly assess contemporary trends in the regulation of work and leisure time. We use the fact that the number and timing of paid vacation...

This paper analyzes the determinants behind the spatial distribution of the sex industry in Thailand. We relate the development of the sex industry to an early temporary demand shock, i.e., U.S. military presence during the Vietnam War. Comparing the surroundings of Thai military bases used by...

Economic research on entertainment is scant despite its large share of time use. We test economic theories of belief-based utility in the context of video-game engagement. Using data on 2.8 million matches from League of Legends, we find evidence supporting reference-dependent preferences, loss...

With globalization, the size of migration and the value of ethnicity is rising. Also Cyprus undergoes a strong process of change while experiencing large inflows of migration. The paper investigates the challenges and the potentials of migration from a European Union perspective. It advocates...

This paper proposes a novel approach to explore the relationship between cultural participation and subjective well-being. While most empirical research has considered such a connection using cultural and leisure activities individually or in additive terms, drawing from the sociological...

This paper investigates the effect of sanctions of unemployment insurance benefits on the exit rate from unemployment for a sample of Danish unemployed. According to the findings are that even moderate sanctions have rather large effects. For both males and females the exit rate increases by...

In recent decades, most developed countries have experienced a simultaneous increase in income inequality and management compensation. In this paper, we study the relation between management compensation and firm-level income dynamics in a general equilibrium model. Empirical estimation, of the...