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Rational Addiction and Time Consistency : An Empirical Test

Piccoli, Luca - 2020

This paper deals with one of the main empirical problems associated with the rational addiction theory, namely that its … addiction equation cannot distinguish between time consistency and inconsistency in preferences. We show that an encompassing … general specification of the rational addiction model embeds the possibility of testing for time consistent versus time …

Persistent link: https://www.econbiz.de/10012843165

The Expansion of Higher Education and Time-Consistent Taxation

Poutvaara, Panu - 2007

This paper analyzes educational choices and political support for subsidies to higher education in the presence of a time-consistency problem in income redistribution. There may be political support for so generous subsidization that it motivates the median voter to obtain higher education. As a...

Persistent link: https://www.econbiz.de/10012776006

Choice Over Time

Manzini, Paola; Mariotti, Marco - 2021

they are really the most challenging ones for conventional theory. New developments are emerging both at the theoretical …

Persistent link: https://www.econbiz.de/10013316853

Wage Rigidity or Fiscal Redistribution? The Unemployment Bias of Time Consistent Redistributive Policies

Lehmann, Etienne - 2021

Because of Time Inconsistency considerations, policymakers underestimate the drawbacks of wage rigidity as a redistributive tool. Consequently, they redistribute inefficiently income from high to low skilled workers. They typically implement too much wage rigidity whereas other means (in...

Persistent link: https://www.econbiz.de/10013317603

Privacy, Time Consistent Optimal Labor Income Taxation and Education Policy

Konrad, Kai A. - 2011

Incomplete information is a commitment device for time consistency problems. In the context of time consistent labor income taxation privacy can lead to a Pareto superior outcome and increases the effectiveness of public education as a second best policy

Persistent link: https://www.econbiz.de/10014163655

Rational Inattention and Employer Learning

Habermalz, Steffen - 2010

learning model with the theory of rational inattention introduced by Sims (2006). In the model firms optimally allocate …

Persistent link: https://www.econbiz.de/10013135991

Employer Learning and the 'Importance' of Skills

Light, Audrey - 2012

We ask whether the role of employer learning in the wage-setting process depends on skill type and skill importance to productivity. Combining data from the NLSY79 with O*NET data, we use Armed Services Vocational Aptitude Battery scores to measure seven distinct types of pre-market skills that...

Persistent link: https://www.econbiz.de/10013104945

Mincer Equation, Power Law of Learning, and Efficient Education Policy

Richter, Wolfram F. - 2013

The basis for the empirical research on earnings determination is the Mincer equation. Individuals are assumed to make schooling decisions by maximizing earnings. Leisure costs of schooling and labour supply are neglected which has some empirically implausible implications. This paper shows a...

Persistent link: https://www.econbiz.de/10013084667

Information and Learning in Oligopoly : An Experiment

Bigoni, Maria - 2013

This paper presents an experiment on learning in repeated games, which complements the analysis of players' actual choices with data on the information acquisition process they follow. Subjects play a repeated Cournot oligopoly, with limited a priori information. The econometrics hinges on a...

Persistent link: https://www.econbiz.de/10013088340

Confidence in Knowledge or Confidence in the Ability to Learn : an Experiment on the Causal Effects of Beliefs on Motivation

Fischer, Mira - 2018

Previous research has shown that feedback about past performance has ambiguous effects on subsequent performance. We argue that feedback affects beliefs in different dimensions – namely beliefs about the level of human capital and beliefs about the ability to learn – and this may explain...

Persistent link: https://www.econbiz.de/10012926724

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