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Conflict, Evolution, Hegemony, and the Power of the State

Levine, David; Modica, Salvatore - National Bureau of Economic Research (NBER) - 2013

In a model of evolution driven by conflict between societies more powerful states have an advantage. When the influence of outsiders is small we show that this results in a tendency to hegemony. In a simple example in which institutions differ in their "exclusiveness" we find that these...

Persistent link: https://www.econbiz.de/10010950707

Directed Giving: Evidence from an Inter-Household Transfer Experiment

Batista, Catia; Silverman, Dan; Yang, Dean - National Bureau of Economic Research (NBER) - 2014

We investigate the determinants of giving in a lab-in-the-field experiment with large stakes. Study participants in urban Mozambique play dictator games where their counterpart is the closest person to them outside their household. When given the option, dictators do a large fraction of giving...

Persistent link: https://www.econbiz.de/10010951192

Field Experiments: A Bridge Between Lab and Naturally-Occurring Data

list, john - National Bureau of Economic Research (NBER) - 2007

Laboratory experiments have been used extensively in economics in the past several decades to lend both positive and normative insights into a myriad of important economic issues. This study discusses a related approach that has increasingly grown in prominence of late--field experiments. I...

Persistent link: https://www.econbiz.de/10005084551

The Nature of Excess: Using Randomized Treatments to Investigate Price Dynamics

list, john; Price, Michael K.; Al-Ubaydli, Omar - National Bureau of Economic Research (NBER) - 2010

This study explores empirically the price dynamics within two distinct market institutions - a double oral auction, which resembles modern asset markets, and a bilateral exchange market, which represents markets that have existed for centuries. To provide a theoretical basis to our...

Persistent link: https://www.econbiz.de/10008533384

What Happens in the Field Stays in the Field: Exploring Whether Professionals Play Minimax in Laboratory Experiments

Levitt, Steven; list, john; Reiley, David - National Bureau of Economic Research (NBER) - 2009

The minimax argument represents game theory in its most elegant form: simple but with stark predictions. Although some of these predictions have been met with reasonable success in the field, experimental data have generally not provided results close to the theoretical predictions. In a...

Persistent link: https://www.econbiz.de/10008614935

Checkmate: Exploring Backward Induction Among Chess Players

Levitt, Steven; list, john; Sadoff, Sally E. - National Bureau of Economic Research (NBER) - 2009

Although backward induction is a cornerstone of game theory, most laboratory experiments have found that agents are not able to successfully backward induct. Much of this evidence, however, is generated using the Centipede game, which is ill-suited for testing the theory. In this study, we...

Persistent link: https://www.econbiz.de/10008615812

Equilibrium Tax Rates and Income Redistribution: A Laboratory Study

Agranov, Marina; Palfrey, Thomas R. - National Bureau of Economic Research (NBER) - 2014

rates, inequality, and income redistribution. We also extend that model to incorporate social preferences in the form of … altruism and inequality aversion. The experiment varies the amount of inequality and the collective choice procedure to … determine tax rates. We report four main findings. First, higher wage inequality leads to higher tax rates. The effect is …

Persistent link: https://www.econbiz.de/10010821742

Mental Accounting in Portfolio Choice: Evidence from a Flypaper Effect

Laibson, David; Madrian, Brigitte C.; Choi, James J. - National Bureau of Economic Research (NBER) - 2007

Consistent with mental accounting, we document that investors sometimes choose the asset allocation for one account without considering the asset allocation of their other accounts. The setting is a firm that changed its 401(k) matching rules. Initially, 401(k) enrollees chose the allocation of...

Persistent link: https://www.econbiz.de/10004969353

Extending Life Cycle Models of Optimal Portfolio Choice: Integrating Flexible Work, Endogenous Retirement, and Investment Decisions with Lifetime Payouts

Mitchell, Olivia; Chai, Jingjing; Horneff, Wolfram; … - National Bureau of Economic Research (NBER) - 2009

This paper derives optimal life cycle portfolio asset allocations as well as annuity purchases trajectories for a consumer who can select her hours of work and also her retirement age. Using a realistically-calibrated model with stochastic mortality and uncertain labor income, we extend the...

Persistent link: https://www.econbiz.de/10004980314

Adoption Curves and Social Interactions

Brock, William A.; Durlauf, Steven N. - National Bureau of Economic Research (NBER) - 2009

This paper considers the observational implications of social influences on adoption decisions for an environment of perfect foresight adopters. We argue that social influences can produce two observable effects: 1) discontinuities in unconditional adoption curves and 2) pattern reversals in...

Persistent link: https://www.econbiz.de/10004980321