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Prospect Theory and Asset Prices
Barberis, Nicholas - 1999
We propose a new framework for pricing assets, derived in part from the traditional consumption-based approach, but which also incorporates two long-standing ideas in psychology: prospect theory, and evidence on how prior outcomes affect risky choice. Consistent with prospect theory, the...
Persistent link: https://www.econbiz.de/10012471569
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Airline Hubs : Costs, Markups and the Implications of Customer Heterogeneity
Berry, Steven - 1996
This paper estimates a model of airline competition that captures the two major features of the industry: product differentiation and economies of density. The results not only provide support to some of the traditional common wisdom in the industry, but are also useful for understanding major...
Persistent link: https://www.econbiz.de/10012473287
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Inside Job or Deep Impact? Using Extramural Citations to Assess Economic Scholarship
Angrist, Joshua - 2017
Does academic economic research produce material of scientific value, or are academic economists writing only for clients and peers? Is economics scholarship uniquely insular? We address these questions by quantifying interactions between economics and other disciplines. Changes in the impact of...
Persistent link: https://www.econbiz.de/10012454984
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The Effects of Wage Contracts on Workplace Misbehaviors : Evidence from a Call Center Natural Field Experiment
Flory, Jeffrey A. - 2016
Workplace misbehaviors are often governed by explicit monitoring and strict punishment. Such enforcement activities can serve to lessen worker productivity and harm worker morale. We take a different approach to curbing worker misbehavior--bonuses. Examining more than 6500 donor phone calls...
Persistent link: https://www.econbiz.de/10012456334
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How was the Weekend? How the Social Context Underlies Weekend Effects in Happiness and other Emotions for US Workers
Helliwell, John F. - 2015
In this paper we estimate the size of weekend effects for seven emotions and then explore their main determinants for the working population in the United States, using the Gallup/Healthways US Daily Poll 2008-2012. We first find that weekend effects exist for all emotions, and that these...
Persistent link: https://www.econbiz.de/10012457294
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Ethical Foundations of Financial Regulation
Kane, Edward J. - 1997
Regulation consists of rulemaking and enforcement. Economic theory offers two complementary rationales for regulating financial institutions. Altruistic public-benefits theories treat rules as governmental instruments for increas- ing fairness and efficiency across society as a whole....
Persistent link: https://www.econbiz.de/10012472798
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Deals versus rules : policy implementation uncertainty and why firms hate it
Hallward-Driemeier, Mary - 2010
"Firms in Africa report "regulatory and economic policy uncertainty" as a top constraint to their growth. We argue that often firms in Africa do not cope with policy rules, rather they face deals; firm-specific policy actions that can be influenced by firm actions (e.g. bribes) and...
Persistent link: https://www.econbiz.de/10011394615
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Winning Isn't Everything : Corruption in Sumo Wrestling
Duggan, Mark - 2000
Although the theoretical literature on corruption is well developed, empirical work in this area has lagged because it … has proven difficult to isolate corrupt behavior in the data. In this paper, we look for evidence of corruption in an … stables play a role in facilitating the corruption. In times of increased media scrutiny, the match rigging disappears …
Persistent link: https://www.econbiz.de/10012470952
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Natural Openness and Good Government
Wei, Shang-Jin - 2000
This paper offers a new interpretation of the connection between openness and good governance. Assuming that corruption … display lower corruption in equilibrium. In data, naturally more open economies' do exhibit less corruption even after taking …
Persistent link: https://www.econbiz.de/10012470985
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Do Corrupt Governments Receive Less Foreign Aid?
Alesina, Alberto - 1999
less corrupt governments receive more foreign aid. On the contrary, according to some measures of corruption, more corrupt … governments receive more aid. Also, we could not find any evidence that an increase in foreign aid reduces corruption. In summary …
Persistent link: https://www.econbiz.de/10012471686