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Redistributive Politics and Market Efficiency : An Experimental Study
Großer, Jens - 2011
We study the interaction between competitive markets that produce large but unequally distributed welfare gains and elections through which the poor majority can redistribute income away from the rich minority. In our simple laboratory democracy, subjects first earn their income by trading in a...
Persistent link: https://www.econbiz.de/10013134222
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Immigration, Family Responsibilities and the Labor Supply of Skilled Native Women
Farré, Lidia - 2009
This paper investigates the effects of Spain's large recent immigration wave on the labor supply of highly skilled native women. We hypothesize that female immigration led to an increase in the supply of affordable household services, such as housekeeping and child or elderly care. As a result,...
Persistent link: https://www.econbiz.de/10013158120
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Predictability of Asset Returns and the Efficient Market Hypothesis
Pesaran, M. Hashem - 2010
This paper is concerned with empirical and theoretical basis of the Efficient Market Hypothesis (EMH). The paper begins with an overview of the statistical properties of asset returns at different frequencies (daily, weekly and monthly), and considers the evidence on return predictability, risk...
Persistent link: https://www.econbiz.de/10013141228
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Disclosure, Trust and Persuasion in Insurance Markets
de Meza, David - 2010
This high-stakes experiment investigates the effect on buyers of mandatory disclosures concerning an insurance policy's value for money (the claims ratio) and the seller's commission. These information disclosures have virtually no effect despite most buyers claiming to value such information....
Persistent link: https://www.econbiz.de/10013139875
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Social Insurance with Competitive Insurance Markets and Risk Misperception
Cremer, Helmuth - 2016
This paper considers an economy where individuals differ in productivity and in risk. Rochet (1991) has shown that when private insurance markets offer full coverage at fair rates, social insurance is desirable if and only if risk and productivity are negatively correlated. This condition is...
Persistent link: https://www.econbiz.de/10013001310
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Adverse Selection in the Group Life Insurance Market
Harris, Timothy F.; Yelowitz, Aaron; Talbert, Jeffery; … - 2022
The employer-sponsored life insurance (ESLI) market is particularly susceptible to adverse selection due to community-rated premiums, guaranteed issue coverage, and the existence of a well-functioning individual market as a substitute. Using administrative payroll and healthcare claims data from...
Persistent link: https://www.econbiz.de/10013406459
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Simultaneous Search and Network Efficiency
Gautier, Pieter A. - 2011
mechanisms that allow for ex post Bertrand competition generate the maximum matching on a realized network …
Persistent link: https://www.econbiz.de/10013121924
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Testing CAPM with a Large Number of Assets
Pesaran, M. Hashem - 2012
This paper is concerned with testing the time series implications of the capital asset pricing model (CAPM) due to Sharpe (1964) and Lintner (1965), when the number of securities, N, is large relative to the time dimension, T, of the return series. In the case of cross-sectionally correlated...
Persistent link: https://www.econbiz.de/10013107698
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The Distribution of Earnings Under Monopsonistic/Polistic Competition
Thisse, Jacques-François - 2010
, firms are price-makers and wage-setters. Our setting combines monopolistic and monopsonistic competition, thus encapsulating …
Persistent link: https://www.econbiz.de/10013139040
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The Effect of Product Market Competition on Job Instability
Aparicio Fenoll, Ainhoa - 2011
This paper assesses the impact of product market competition on job instability as proxied by the use of fixed … Strategies Survey, I show that job instability rises with competition. In particular, a one standard deviation increase in … competition in an economic sector decreases the probability that a fixed-term worker gets an open-ended contract within that …
Persistent link: https://www.econbiz.de/10013125476