Showing 1 - 10 of 165
This paper uses the Kaldor-Hicks compensation principle to compute the present value (PV) of a non-marginal future event. Three theoretical results stand out: First, decreasing returns to capital create a wedge between the PV of future generations' willingness to pay (WTP) and the PV of their...
Persistent link: https://www.econbiz.de/10014150712
This study uses the methods of experimental economics to investigate possible causes for the failure of the Hotelling rule for nonrenewable resources. We argue that as long as resource stocks are high enough, producers may choose to (partially) ignore the dynamic component of their production...
Persistent link: https://www.econbiz.de/10014186740
We propose a first order bias correction term for the Gini index to reduce the bias due to grouping. The first order … reveals an intuitive formula for the remaining second order bias which is useful in empirical analyses. We analyze the … it reduces a considerable share of the bias due to grouping …
Persistent link: https://www.econbiz.de/10012722922
organize data well in previous experiments meant to test other concepts. In a new experimental setting, we provide the first …
Persistent link: https://www.econbiz.de/10013113620
We analyze the impact of product bundling in experimental markets. One firm has monopoly power in a first market but competes with another firm in a second market. We compare treatments where the multiproduct firm (i) always bundles, (ii) never bundles, and (iii) chooses whether or not to...
Persistent link: https://www.econbiz.de/10012905779
(MUA) model. We find that pivotal suppliers do indeed exercise their market power in the experiments. We also find that …
Persistent link: https://www.econbiz.de/10014186002
An experiment is conducted were subjects interact repeatedly to examine the effect of a particular leniency program on …
Persistent link: https://www.econbiz.de/10014056665
results of a natural field experiment where, in a randomly assigned part of a residential area, the frequency of cleaning was … locations before, during, and after the experiment, we find strong evidence that litter begets litter. However, we also find …
Persistent link: https://www.econbiz.de/10014168066
This paper examines how a firm can strategically choose its capacity to manipulate consumer beliefs about aggregate demand. It looks at a market with social effects where consumers want to do what is popular, to buy what they believe others want to buy. By imposing a capacity constraint and...
Persistent link: https://www.econbiz.de/10014186736
This paper discusses a number of issues that will become increasingly important nowthat the concept of marginal external cost pricing becomes more likely to be implementedas a policy strategy in transport in reality. The first part of the paper deals with thelong-run efficiency of marginal...
Persistent link: https://www.econbiz.de/10010324401