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Justification and cooperation
Xiao, Erte - Volkswirtschaftliche Fakultät, … - 2012
The need for justification is a widely observed social phenomenon. This paper develops a theoretical framework and reports laboratory evidence to show how pure justification pressure affects cooperative behavior in economic exchange environments. In a one-shot anonymous interaction, compared...
Persistent link: https://www.econbiz.de/10009422008
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Equal distribution or equal payoffs? Reciprocity and inequality aversion in the investment game
Rodriguez-lara, Ismael - Volkswirtschaftliche Fakultät, … - 2015
We report experimental evidence on second-movers' behavior in the investment game (also known as the trust game) when there exists endowment heterogeneity. Using a within-subject analysis, we investigate whether second-movers have a tendency to be reciprocal (i.e., they return to first movers at...
Persistent link: https://www.econbiz.de/10011212781
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Learning, Expectations, and Endogenous Business Cycles
Doshchyn, Artur; Giommetti, Nicola - Volkswirtschaftliche Fakultät, … - 2013
learn, form their expectations, and make decisions regarding savings and production for future periods. There are no … are unexpected by agents, or if future price expectations are not adjusted exactly proportionally to the announced …, as that would require it knowing precisely the actual law of motion of the economy, current market’s expectations, and …
Persistent link: https://www.econbiz.de/10011259238
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Using sentiment to predict GDP growth and stock returns
Guzman, Giselle C. - Volkswirtschaftliche Fakultät, … - 2008
This study sheds new light on the question of whether or not sentiment surveys, and the expectations derived from them …
Persistent link: https://www.econbiz.de/10009647230
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The case for higher frequency inflation expectations
Guzman, Giselle C. - Volkswirtschaftliche Fakultät, … - 2011
I present evidence that higher frequency measures of inflation expectations outperform lower frequency measures of … inflation expectations in tests of accuracy, predictive power, and rationality. For decades, the academic literature has focused … collection of 37 different measures of inflation expectations, including many previously unexploited monthly and real …
Persistent link: https://www.econbiz.de/10009650037
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Trafficking in drugs and economic theory
Pandey, S.S.D. - Volkswirtschaftliche Fakultät, … - 1991
The focus of this study is on black markets which provide an important segment of the parallel economy. These markets operate in disequilibrium,search and information costs become very important.Trafficking in drugs taken as case, to explore both theoretically and empirically. The problem,...
Persistent link: https://www.econbiz.de/10009422026
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Charitable giving under inequality aversion and social capital.
Yamamura, Eiji - Volkswirtschaftliche Fakultät, … - 2012
A Japanese General Social Survey is used to re-examine how voluntary giving is associated with inequality aversion, and how the relationship differs between high- and low-income groups. This paper also investigates how social capital influences that relationship. The key findings are that (1)...
Persistent link: https://www.econbiz.de/10011260635
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Inequality averse criteria for evaluating infinite utility streams: The impossibility of Weak Pareto
Alcantud, José Carlos R. - Volkswirtschaftliche Fakultät, … - 2010
This paper investigates ethical aggregation of infinite utility streams by representable social welfare relations. We prove that the Hammond Equity postulate and other variations of it like the Pigou-Dalton transfer principle are incompatible with positive responsiveness to welfare improvements...
Persistent link: https://www.econbiz.de/10008765931
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Guilt causes equal or unequal division in alternating-offer bargaining
Kohler, Stefan - Volkswirtschaftliche Fakultät, … - 2012
Parties in a bargaining situation may perceive guilt, a utility loss caused by receiving the larger share that is modeled in some social preferences. I extend Rubinstein (1982)'s solution of the open-ended alternating-offer bargaining problem for self-interested bargainers to a game with equally...
Persistent link: https://www.econbiz.de/10011108407
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Envy can promote more equal division in alternating-offer bargaining
Kohler, Stefan - Volkswirtschaftliche Fakultät, … - 2012
Bargainers in an open-ended alternating-offer bargaining situation may perceive envy, a utility loss caused by receiving the smaller share that is modeled in some social preferences in addition to self-interest. I extend Rubinstein (1982)'s original solution of the bargaining problem for two...
Persistent link: https://www.econbiz.de/10011112839