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Self-interest, Social Wealth, and Competition as a Discovery Procedure : A classroom experiment that makes the "invisible hand" visible
Kirstein, Roland; Schmidtchen, Dieter - 2003
theory of human behavior. Even classroom experiments may serve this purpose. This paper describes a simple classroom … experiment that serves as an empirical test of Adam Smith?s invisible- hand hypothesis. Furthermore, it demonstrates to the … students that competition acts as a discovery procedure. The experiment is of high didactical value, since the students gain …
Persistent link: https://www.econbiz.de/10010296887
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Eigennutz als Triebfeder des Wohlstands: Die "invisible hand" - im Hörsaal-Experiment sichtbar gemacht
Kirstein, Roland; Schmidtchen, Dieter - 2002
zumindest ihre grundlegenden Verhaltenshypothesen testen zu können. Dieser Beitrag stellt ein einfaches Hörsaal-Experiment vor …, das Adam Smiths Hypothese von der "unsichtbaren Hand" im Marktgeschehen empirisch überprüft. Das Experiment zeigt zudem … experiments to test at least the basic assumptions of the economic theory of human behavior. This paper describes a simple …
Persistent link: https://www.econbiz.de/10010296963
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Trade Policy of Transition Economics
Moraga, Jose Luis; Viaene, Jean-Marie - 2000
This paper focuses on ignored issues regarding the impact of trade reforms in transition economies. These economies are primarily characterized by a low quality of their products, large depreciations of their currencies, and a high degree of government intervention in economic activity. These...
Persistent link: https://www.econbiz.de/10010324646
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Anti-dumping, Intra-industry Trade and Quality Reversals
Moraga-Gonzalez, Jose Luis; Viaene, Jean-Marie - 2004
We examine an export game where two firms (home and foreign), located in two differentcountries, produce vertically differentiated products. The foreign firm is the most efficientin terms of R&D costs of quality development and the foreign country is relatively larger andendowed with a...
Persistent link: https://www.econbiz.de/10010325360
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Asymmetric information and overinvestment in quality
Belleflamme, Paul; Peitz, Martin - 2009
In a standard adverse selection world, asymmetric information about product quality leads to quality deterioration in the market. Suppose that a higher investment level makes the realization of high quality more likely. Then, if consumers observe the investment (but not the realization of...
Persistent link: https://www.econbiz.de/10010264613
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Wealth as a signal in the search model of money
Okumura, Tsunao - 2005
This paper investigates the possibility that wealth (holdings of money) serves as a signal of ability to produce high quality products for agents who cannot directly observe the quality of the products. A producer's wealth may advertise past success in selling products to agents who knew the...
Persistent link: https://www.econbiz.de/10010266277
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The choice of environmental policy instruments: Energy efficiency and redistribution
Haupt, Alexander; Stadejek, Magdalena - 2010
We analyse optimal environmental policies in a market that is vertically differentiated in terms of the energy efficiency of products. Considering energy taxes, subsidies to firms for investment in more eco-friendly products, and product standards, we are particularly interested in how...
Persistent link: https://www.econbiz.de/10010270546
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Consumers and the brain drain: product design and the gains from emigration
Kuhn, Peter; McAusland, Carol - 2008
We consider the welfare effects of skilled worker emigration in a context where skilled labor plays a role in product design. We show such emigration can benefit the residents left behind, even when consumers' tastes exhibit a form of home bias. This is because emigration improves the design of...
Persistent link: https://www.econbiz.de/10010274534
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Product quality, informality, and child labour
Fotoniata, Eugenia; Moutos, Thomas - 2011
This paper studies the interactions between the structure of product demand, relative wages, and the allocation of economic activity across two sectors. The agrarian sector produces a homogeneous good and consists of informal firms employing adults and children. The modern sector produces a...
Persistent link: https://www.econbiz.de/10010277363
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World trade patterns and prices: The role of productivity and quality heterogeneity
Benedetti Fasil, Cristiana; Borota, Teodora - 2010
This paper analyzes the role of product quality and labor efficiency in shaping the trade patterns and trade intensities within and across two groups of countries, the developed and richer North and the developing South. Taking prices as a proxy for quality, recent empirical literature...
Persistent link: https://www.econbiz.de/10010321451