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Capital Gains Taxation in an Economy with an "Austrian Sector"
Kovenock, Dan; Rothschild, Michael - 2021
This paper examines the effects of a proportional capital gains tax in an economy with an Austrian sector (with wine and trees) and an ordinary sector. We analyze the effect of capital gains taxation (on both an accrual and a realization basis) on the efficiency with which resources are used...
Persistent link: https://www.econbiz.de/10013249716
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The Austrian Theory of the Marginal Use and of Ordinal Marginal Utility
Mcculloch, J. Huston - 2021
The Austrian theory of the "marginal use" is restated and extended. It is found that the Austrian concept of marginal …
Persistent link: https://www.econbiz.de/10013310605
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Bid Takers or Market Makers? The Effect of Auctioneers on Auction Outcomes
Lacetera, Nicola - 2014
. Much less work has considered the importance of the auction process. For example, in many auctions, auctioneers are present … and can impact the process of the auction by varying starting prices, level of price adjustments, the speed of the auction … explore the importance of auction process by testing whether auctioneers can have a systematic difference on auction outcomes …
Persistent link: https://www.econbiz.de/10013061775
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A Sparsity-Based Model of Bounded Rationality
Gabaix, Xavier - 2011
, considering only the variables of first-order importance. His stylized model and his resulting choices both derive from …
Persistent link: https://www.econbiz.de/10013127754
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Identification Problems in Personality Psychology
Borghans, Lex - 2011
This paper discusses and illustrates identification problems in personality psychology. The measures used by psychologists to infer traits are based on behaviors, broadly defined. These behaviors are produced from multiple traits interacting with incentives in situations. In general, measures...
Persistent link: https://www.econbiz.de/10013127766
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Rules Versus Discretion in Trade Policy : an Empirical Analysis
Staiger, Robert W. - 2011
We test empirically for evidence that government tariff-setting behavior depends on the degree of discretion with which policy-makers are endowed. We do this by studying government tariff choices under two distinct environments. One environment is that of tariffs set under the Escape Clause...
Persistent link: https://www.econbiz.de/10013127832
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Empirical Patterns of Firm Growth and R&D Investment : a Quuality Laddermodel Interpretation
Klette, Tor Jakob - 2011
We present a model of endogenous firm growth with R&D investment and stochastic innovation as the engines of growth. The model for firm growth is a partial equilibrium model drawing on the quality ladder models in the macro growth literature, but also on the literature on patent races and the...
Persistent link: https://www.econbiz.de/10013127899
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Does Market Experience Eliminate Market Anomalies? The Case of Exogenous Market Experience
List, John A. - 2011
A vibrant literature has emerged that suggests willingness to pay and willingness to accept measures of value are quite different for inexperienced consumers but that value differences erode with market experience. One potential shortcoming of this literature is that market experience is...
Persistent link: https://www.econbiz.de/10013127977
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The Short of it : Investor Sentiment and Anomalies
Stambaugh, Robert F. - 2011
This study explores the role of investor sentiment in a broad set of anomalies in cross-sectional stock returns. We consider a setting where the presence of market-wide sentiment is combined with the argument that overpricing should be more prevalent than underpricing, due to short-sale...
Persistent link: https://www.econbiz.de/10013127985
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Simple Variance Swaps
Martin, Ian - 2011
The large asset price jumps that took place during 2008 and 2009 disrupted volatility derivatives markets and caused the single-name variance swap market to dry up completely. This paper defines and analyzes a simple variance swap, a relative of the variance swap that in several respects has...
Persistent link: https://www.econbiz.de/10013128275