Wir entwickeln ein Modell für strategisches Spielverhalten bei Glücksspielen nach dem Totalisatorprinzip und wenden es auf die Fußballwettspiele Toto und Torwette an. Unter der Annahme, dass Buchmacherquoten die "wahren" Ausgangswahrscheinlichkeiten der betreffenden Fußballspiele...

When productivity is fostered by an individual's own human capital as well as by the economy-wide average level of human capital, individuals under-invest in human capital. The provision of subsidies for the formation of human capital, conditional on the subsidy being self-financed by tax...

Epstein (1998) demonstrates that in the demographic Prisoner's Dilemma game it is possible to sustain cooperation in a repeated game played on a finite grid, where agents are spatially distributed and of fixed strategy type ('cooperate' or 'defect'). We introduce a methodology to formalize the...

We calculate the equilibrium fraction of cooperators in a population in which payoffs accrue from playing a single-shot prisoner's dilemma game. Individuals who are hardwired as cooperators or defectors are randomly matched into pairs, and cooperators are able to perfectly find out the type of a...

Social interactions provide a set of incentives for regulating individual behavior. Chief among these is stigma, the status loss and discrimination that results from the display of stigmatized attributes or behaviors. The stigmatization of behavior is the enforcement mechanism behind social...

We consider a nonparametric test for the null of seasonal unit roots in quarterly time series that builds on the RUR (records unit root) test by Aparicio, Escribano, and Sipols. We find that the test concept is more promising than a formalization of visual aids such as plots by quarter. In order...