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Produce or Speculate? Asset Bubbles, Occupational Choice and Efficiency

Cahuc, Pierre - 2009

We study the macroeconomic effects of rational asset bubbles in an overlapping-generations economy where asset trading … are large, the private gains associated with trading asset bubbles may lead too many workers to become speculators …, thereby causing rational bubbles to lose their efficiency properties. Moreover, if speculation can be carried out by skilled …

Persistent link: https://www.econbiz.de/10013153172

Mind, Body, Bubble! Psychological and Biophysical Dimensions of Behavior in Experimental Asset Markets

Butler, David - 2018

Asset market bubbles and crashes are a major source of economic instability and inefficiency. Sometimes ascribed to …

Persistent link: https://www.econbiz.de/10012917090

Youth Employment in Europe : Institutions and Social Capital Explain Better than Mainstream Economics

Contini, Bruno - 2010

tradition, cultural values, social capital factors that go beyond the standard explanation of economic theory ﾖ provide a more …

Persistent link: https://www.econbiz.de/10013148324

Differences in Quality of Life Estimates Using Rents and Home Values

Winters, John V. - 2012

Quality of life differences across areas can be measured by differences in “real wages”, where real wages are computed as nominal wages adjusted for the cost of living. Computing cost of living differences involves several important issues, including how housing prices should be measured....

Persistent link: https://www.econbiz.de/10013103501

Measuring the Value of a Statistical Life : Problems and Prospects

Ashenfelter, Orley - 2006

Tradeoffs between monetary wealth and fatal safety risks are summarized in the value of a statistical life (VSL), a measure that is widely used for the evaluation of public policies in medicine, the environment, and transportation safety. This paper demonstrates the widespread use of this...

Persistent link: https://www.econbiz.de/10012734646

Labor Market Developments in China : A Neoclassical View

Ge, Suqin - 2010

This paper assesses the applicability of two alternative theories in understanding labor market developments in China: the classical view featuring a Lewis turning point in wage growth versus a neoclassical framework emphasizing rational choices of individuals and equilibrating forces of the...

Persistent link: https://www.econbiz.de/10013134983

Stages of Diversification in a Neoclassical World

Batista, Catia - 2013

can neoclassical trade theory take us in explaining this pattern? We estimate the production side of the Heckscher …

Persistent link: https://www.econbiz.de/10013072168

Regional Convergence in Russia : Estimating a Neoclassical Growth Model

Lehmann, Hartmut - 2020

In this paper, we study convergence in per capita gross regional products across Russian regions in the period from 1996 to 2017. To this purpose, we estimate growth equations, which are directly derived from a neoclassical growth model, augmented with human capital and migration. To our...

Persistent link: https://www.econbiz.de/10012839051

The Rapid Evolution of Homo Economicus : Brief Exposure to Neoclassical Assumptions Increases Self-Interested Behavior

Ifcher, John - 2016

Economics students have been shown to exhibit more selfishness than other students. Because the literature identifies the impact of long-term exposure to economics instruction (e.g., taking a course), it cannot isolate the specific course content responsible; nor can selection, peer effects, or...

Persistent link: https://www.econbiz.de/10012983904

Are Labor Supply Decisions Consistent with Neoclassical Preferences? Evidence from Indian Boat Owners

Giné, Xavier - 2016

This paper studies the labor supply of South Indian boat owners using daily labor participation decisions of 249 boat owners during seven years. We test the standard neoclassical model of labor supply and find that boat owners' labor participation depends positively on expected earnings but also...

Persistent link: https://www.econbiz.de/10012982124

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