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Welfare implications of Calvo vs. Rotemberg pricing assumptions

Lombardo, Giovanni; Vestin, David - 2007

This paper compares the welfare implications of two widely used pricing assumptions in the New-Keynesian literature: Calvo-pricing vs. Rotemberg-pricing. We show that despite the strong similarities between the two assumptions to a first order of approximation, in general they might entail...

Persistent link: https://www.econbiz.de/10011604816

Monetary policy, determinacy, and learnability in the open economy

Bullard, James; Schaling, Eric - 2006

We study how determinacy and learnability of global rational expectations equilibrium may be affected by monetary policy in a simple, two country, New Keynesian framework. The two blocks may be viewed as the U.S. and Europe, or as regions within the euro zone. We seek to understand how monetary...

Persistent link: https://www.econbiz.de/10011604657

Learning in infinite horizon strategic market games with collateral and incomplete information

Brangewitz, Sonja; Giraud, Gaël - 2011

We study a strategic market game with finitely many traders, infinite horizon and real assets. To this standard framework (see, e.g. Giraud and Weyers, 2004) we add two key ingredients: First, default is allowed at equilibrium by means of some collateral requirement for financial assets; second,...

Persistent link: https://www.econbiz.de/10010319983

The relation between fluid intelligence and the general factor as a function of cultural background: A test of Cattell's investment theory

Kvist, Ann Valentin; Gustafsson, Jan-Eric - 2007

According to Cattell’s (1987) Investment theory individual differences in acquisition of knowledge and skills are … this theory holds true Gf will be a factor of General Intelligence (g) because it is involved in all domains of learning …. The purpose of the current study was to test the Investment theory, through investigating effects on the relation between …

Persistent link: https://www.econbiz.de/10010317950

Emergent cultural phenomena and their cognitive foundations

Cordes, Christian - 2007

between individual cognitive dispositions at the micro level and cultural phenomena at the macro level, the theory of gene …

Persistent link: https://www.econbiz.de/10010266713

Role models that make you unhappy: Light paternalism, social learning and welfare

Cordes, Christian; Schubert, Christian - 2010

Behavioral (e.g. consumption) patterns of boundedly rational agents can lead these agents into learning dynamics that appear to be wasteful in terms of well-being or welfare. Within settings displaying preference endogeneity, it is however still unclear how to conceptualize well-being. This...

Persistent link: https://www.econbiz.de/10010286756

Learning, institutions, and economic performance

Mantzavinos, C.; North, Douglass C.; Shariq, Syed - 2003

In this article, we provide a broad overview of the interplay among cognition, belief systems, and institutions, and …

Persistent link: https://www.econbiz.de/10010323971

Malthus vs. Wordsworth: Perspectives on humankind, nature and economy

Becker, Christian; Faber, Malte; Hertel, Kirsten; … - 2004

In this paper the view of humankind and nature upon which the thinking of Malthus is founded will be reflected on and contrasted with the opposed understanding of his contemporary Wordsworth. We show that the economic considerations of both are based decidedly on the premise of these views, and...

Persistent link: https://www.econbiz.de/10011422113

Early life conditions and financial risk-taking in older age

Christelis, Dimitris; Dobrescu, Loretti I.; Motta, Alberto - 2011

Using life-history survey data from eleven European countries, we investigate whether childhood conditions, such as socioeconomic status, cognitive abilities and health problems influence portfolio choice and risk attitudes later in life. After controlling for the corresponding conditions in...

Persistent link: https://www.econbiz.de/10010308548

Past experience, cognitive frames, and entrepreneurship: some econometric evidence from the Indian pharmaceutical industry

Bhaduri, Saradindu; Worch, Hagen - 2008

The theoretical literature identifies three important entrepreneurial dimensions, namely discovering new opportunities, responsiveness to uncertainty, and coordination of a firm. In the empirical literature, past experience has been identified as having an important influence on organizational...

Persistent link: https://www.econbiz.de/10010266716