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Strategic Compromise, Policy Bundling and Interest Group Power
Bellani, Luna; Fabella, Vigile Marie; Scervini, Francesco - 2021
Policy reforms are often multifaceted. In the rent-seeking literature policies are usually taken as one-dimensional. This paper models policy formation using a political contest with endogenous policy proposals containing two dimensions. The two dimensions provide an opportunity to trade off one...
Persistent link: https://www.econbiz.de/10013314863
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Public and Private Insurance with Costly Transactions
Bertola, Giuseppe - 2010
We characterize how public insurance schemes are constrained by hidden financial transactions. When non-exclusive private insurance entails increasing unit transaction costs, public transfers are only partly offset by hidden private transactions, and can influence consumption allocation. We show...
Persistent link: https://www.econbiz.de/10013137517
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Checkerboards and Coase : Transactions Costs and Efficiency in Land Markets
Akee, Randall - 2021
The Coase theorem emphasizes the role transactions costs play in efficient market outcomes. We document inefficient outcomes, in the presence of a transactions cost, in southern California land markets and the corresponding transition to efficient outcomes after the transactions cost is...
Persistent link: https://www.econbiz.de/10013317335
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Individual-Level Loss Aversion in Riskless and Risky Choices
Gaechter, Simon; Johnson, Eric J.; Herrmann, Andreas - 2021
Loss aversion can occur in riskless and risky choices. Yet, there is no evidence whether people who are loss averse in riskless choices are also loss averse in risky choices. We measure individual-level loss aversion in riskless choices in an endowment effect experiment by eliciting both WTA and...
Persistent link: https://www.econbiz.de/10013316870
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Independent Individual Decision-Makers in Household Models and the New Home Economics
Grossbard, Shoshana Amyra - 2010
individual models presented in his theory of marriage. Decision-making models assuming independent individual household members …Much of the recent literature in household economics has been critical of unitary models of household decision … discusses another alternative: independent individual models of decision-making that don't make any specific assumptions of …
Persistent link: https://www.econbiz.de/10013139037
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Is It Money or Brains? The Determinants of Intra-Family Decision Power
Bertocchi, Graziella - 2012
We empirically study the determinants of intra-household decision power with respect to economic and financial choices …'s characteristics in terms of age, education, and income. The main conclusion is that decision-making power over family economics is not …
Persistent link: https://www.econbiz.de/10013104671
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Evaluating Alternative Representations of the Choice Sets in Models of Labour Supply
Aaberge, Rolf - 2006
During the last two decades, the discrete-choice modelling of labour supply decisions has become increasingly popular, starting with Aaberge et al. (1995) and van Soest (1995). Within the literature adopting this approach there are however two potentially important issues that are worthwhile...
Persistent link: https://www.econbiz.de/10012780622
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Genetic Ability, Wealth, and Financial Decision-Making
Barth, Daniel - 2017
Recent advances in behavioral genetics have enabled the discovery of genetic scores linked to a variety of economic outcomes, including education. We build on this progress to demonstrate that the same genetic variants that predict educational attainment independently predict household wealth in...
Persistent link: https://www.econbiz.de/10012962275
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Testing the Advantages of Conscious vs. Unconscious Thought for Complex Decisions in a Distraction Free Paradigm
McElroy, Todd - 2016
In this study we test predictions from Unconscious Thought Theory (UTT) that unconscious thought will lead to better … decision making in complex decision tasks relative to conscious thought. Different from prior work testing this prediction, we … processing in complex decision making …
Persistent link: https://www.econbiz.de/10012979447
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When Experienced and Decision Utility Concur : The Case of Income Comparisons
Clark, Andrew - 2015
these two sets of results. This kind of validation of experienced utility via direct comparison with decision utility …
Persistent link: https://www.econbiz.de/10013016299