Since Thaler (1981), we have lived with the uncomfortable stylized fact that many humans choose strictly dominated actions in intertemporal choice experiments. We designed an experiment to probe the reasons for the apparently suboptimal behavior, and we find that the classic Fisher (1930)...

According to Kim and Lee (1997), property taxes as opposed to capital gain taxes and taxes on rent endanger dynamic efficiency. The present paper shows that the choice of the tax base is immaterial. What counts is whether the taxes eliminate the after-tax rent. Empirical evidence suggests that...

We use a multiple price list approach with real payments to elicit long-term time preferences on a sample of French farmers. Elicited individual discount rates vary with the time delay, which supports the existence of a reversal effect in long-term time preferences, and increase with rewards,...

This paper investigates the relationship between economic growth and a fully funded social security system in an overlapping generations model with family altruism. It is shown that funded social security may harm growth if there are operative bequests within the family.

We consider procedures that use randomness to make a decision that involves several individuals. We asked subjects to compare the fairness of six pairs of seemingly equivalent procedures. We propose a classification of subjects into two categories: those who are “emotional” in the sense...

We study exchanges between three overlapping generations with non-dynastic altruism. The middleaged choose informal care provided to their parents and education expenditures for their children. The young enjoy their education, while the old may leave a bequest to their children. Within each...

This paper analyses the relation between unemployment, marriage, divorce, widowhood and subjective well-being using Russian panel data. Contrary to Clark et al. (2008) and Clark and Georgellis (2013), we find little evidence of adaptation to these life events.

Existing hedonic methods cannot be easily adapted to estimate willingness to pay for product characteristics when willingness to pay depends on a very large basket of goods. We show how to marry these methods with revealed preference arguments to estimate bounds on willingness to pay using data...

In Uttar Pradesh, teams of four are engaged to dig soil under the NREGA programme. In one treatment spouses work together; in the other treatment they work in separate teams. Working with spouses is associated with significantly higher output.

Collective household models posit that each household member has access to a fraction of the household budget, called a resource share, which defines the shadow budget faced by a household member. Together with the within-household shadow price vector, the shadow budget determines the material...