Die deutsche Arbeitsmarktpolitik ist im Zuge der Hartz-Reformen grundsätzlich neustrukturiert und systematisch evaluiert worden. Die vorliegenden Evaluationsberichte derersten drei Hartz-Gesetze belegen nun vielfach, welche Instrumente der aktivenArbeitsmarktpolitik sich durch ihre Wirksamkeit...

The traditional approach to measuring allocative efficiency is based on input prices, which are rarely known at the firm level. This paper proposes a new approach to measure allocative efficiency which is based on the output-oriented distance to the frontier in a profit technical efficiency...

This paper studies the implications of cross-border financial integration for financialstability when banks’ loan portfolios adjust endogenously. Banks can be subjectto sectoral and aggregate domestic shocks. After integration they can share theserisks in a complete interbank market. When...

We investigate whether Swedish Environmental Protection Agency (EPA) administrator recommendations regarding improvements in environmental quality differ from citizen preferences. The scope and significance of the possible difference are assessed by conducting identical choice experiments on a...

Theoretically and experimentally, we generalize the analysis of acquiringa company (Samuelson and Bazerman 1985) by allowing for competition ofboth, buyers and sellers. Naivety of both is related to the idea that higherprices exclude worse qualities. While competition of naive buyers...

In our article we consider insurance as a means of allocating terrorism risk. Terrorism poses asignificant challenge for insurers worldwide. In terms of possible losses it fits into the samecategory as earthquakes and hurricanes. Yet as a result of the uncertainty surrounding theserisks private...

This paper intends to provide an evaluation of where the economic research onhappiness stands and in which interesting directions it might develop...

For two independent principles of intergenerational equity, the implied discount rate equals the growthrate of real per-capita income, say 2%, thus falling right into the range suggested by the U.S. Office ofManagement and Budget. To prove this, we develop a simple tool to evaluate small policy...

We extend the simple model of voluntary public good provision toallow for two or more public goods, and explore the new possibilitiesthat arise in this setting. We show that, when there are many publicgoods, voluntary contrib...

The embedding effect has frequently been observed in willingness to pay (WTP) studies.Since policy implications of valuation studies can be very sensitive to the composition of thepackage being valued, respondents’ apparent insensitivity to such fundamental characteristicssuggests that it is...