Showing 1 - 10 of 25
power of our approach with the analysis of trust and trustworthiness in Germany by combining representative survey data with … representative behavioral data from a social dilemma experiment. We identify which survey questions intended to elicit people's trust … correlate well with behaviorally exhibited trust in the experiment. People above the age of 65, highly skilled workers and …
Persistent link: https://www.econbiz.de/10010262013
-human-capital employees. To overcome endogeneity, we draw on a quasi-natural experiment in German history and exploit the exogenous spatial …
Persistent link: https://www.econbiz.de/10010272646
Money illusion means that people behave differently when the same objective situation is represented in nominal terms rather than in real terms. This paper shows that seemingly innocuous differences in payoff representation cause pronounced differences in nominal price inertia indicating the...
Persistent link: https://www.econbiz.de/10010262382
We provide evidence that long-term relationships between trading parties emerge endogenously in the absence of third party enforcement of contracts and are associated with a fundamental change in the nature of market interactions. Without third party enforcement, the vast majority of trades are...
Persistent link: https://www.econbiz.de/10010261611
entrepreneurship in Germany between 1991 and 2010, the first two decades after reunification. We investigate the socioeconomic … increase in self-employment in Germany by 40 percent which can partly be attributed to the transformation process of East … Germany and to the shift to the service sector. We notice a yearly start-up rate of 1 percent among the working population …
Persistent link: https://www.econbiz.de/10010282293
effort provision. This renders explicit tests of the neoclassical theory of labor supply difficult. Here we present evidence …
Persistent link: https://www.econbiz.de/10010261634
changes. We tested this prediction by conducting a randomized field experiment with bicycle messengers. In contrast to … preferences, since the wage in our experiment directly rewarded effort. We show that a simple model of loss averse, reference …
Persistent link: https://www.econbiz.de/10010261772
Economists long considered money illusion to be largely irrelevant. Here we show, however, that money illusion has powerful effects on equilibrium selection. If we represent payoffs in nominal terms, choices converge to the Pareto inefficient equilibrium; however, if we lift the veil of money by...
Persistent link: https://www.econbiz.de/10010261781
experimentally the behavioral forces stipulated in their theory. The evidence confirms the model's prediction that there is a … with established behavioral concepts, they cannot easily be explained by existing theories. The experiment appears to …
Persistent link: https://www.econbiz.de/10010269323
experimentally the behavioral forces stipulated in their theory. The evidence confirms the model's prediction that there is a … with established behavioral concepts, they cannot easily be explained by existing theories. The experiment appears to …
Persistent link: https://www.econbiz.de/10005763665