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Political activists as free-riders : evidence from a natural field experiment

Hager, Anselm; Hensel, Lukas; Hermle, Johannes; Roth, … - 2019

How does a citizen's decision to participate in political activism depend on the participation of others? We examine this core question of collective action in a nation-wide natural field experiment in collaboration with a major European party during a recent national election. In a seemingly...

Persistent link: https://www.econbiz.de/10012136946

Construction contracts (or : "how to get the right building at the right price?")

Chakravarty, Surajeet (contributor); … - 2006

Most contracts that individuals enter into are not written from scratch; rather, they depend upon forms and terms that have been successful in the past. In this paper, we study the structure of form construction contracts published by the American Institute of Architects (AIA). We show that...

Persistent link: https://www.econbiz.de/10003323165

Five open questions about prediction markets

Wolfers, Justin (contributor); Zitzewitz, Eric (contributor) - 2006

Interest in prediction markets has increased in the last decade, driven in part by the hope that these markets will prove to be valuable tools in forecasting, decision-making and risk management -- in both the public and private sectors. This paper outlines five open questions in the literature,...

Persistent link: https://www.econbiz.de/10003278954

Interpreting prediction market prices as probabilities

Wolfers, Justin (contributor); Zitzewitz, Eric (contributor) - 2006

mean beliefs. Beyond these specific sufficient conditions, we show that for a broad class of models prediction market … prices are usually close to the mean beliefs of traders. The key parameters driving trading behavior in prediction markets … are the degree of risk aversion and the distribution on beliefs, and we provide some novel data on the distribution of …

Persistent link: https://www.econbiz.de/10003310964

Contracts as reference points : experimental evidence

Fehr, Ernst (contributor); Hart, Oliver D. (contributor); … - 2008

In a recent paper, Hart and Moore (2008) introduce new behavioral assumptions that can explain long term contracts and important aspects of the employment relation. However, so far there exists no direct evidence that supports these assumptions and, in particular, Hart and Moore's notion that...

Persistent link: https://www.econbiz.de/10003793317

On the economics and biology of trust

Fehr, Ernst (contributor) - 2008

primitives such as preferences and beliefs. I review strong biological and behavioral evidence indicating that trusting is not … preferences and beliefs, and it suggests ways to examine and interpret a causal role of trust. -- Trust ; preferences ; beliefs …

Persistent link: https://www.econbiz.de/10003793375

A behavioral account of the labor market : the role of fairness concerns

Fehr, Ernst (contributor); Götte, Lorenz (contributor); … - 2008

In this paper, we argue that important labor market phenomena can be better understood if one takes (i) the inherent incompleteness and relational nature of most employment contracts and (ii) the existence of reference-dependent fairness concerns among a substantial share of the population into...

Persistent link: https://www.econbiz.de/10003793473

Do students expect compensation for wage risk?

Schweri, Jürg; Hartog, Joop; Wolter, Stefan C. - 2009

We use a unique data set about the wage distribution that Swiss students expect for themselves ex ante, deriving parametric and non-parametric measures to capture expected wage risk. These wage risk measures are unfettered by heterogeneity which handicapped the use of actual market wage...

Persistent link: https://www.econbiz.de/10003825129

Linking individuals and societies

Jasso, Guillermina - 2009

How do individuals shape societies? How do societies shape individuals? This paper develops a framework for studying the connections between micro and macro phenomena. The framework builds on two ingredients widely used in social science - population and variable. Starting with the simplest case...

Persistent link: https://www.econbiz.de/10003872719

A risk augmented mincer earnings equation? : taking stock

Hartog, Joop - 2009

We survey the literature on the Risk Augmented Mincer equation that seeks to estimate the compensation for uncertainty in the future wage to be earned after completing an education. There is wide empirical support for the predicted positive effect of wage variance and the negative effect of wage...

Persistent link: https://www.econbiz.de/10003900500

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