We compare a Social Security system where people can retire at the age of their own choice with one in which there is a legal retirement age elected through a majority voting process. We analyze how incentives on retirement decisions change depending on the retirement rules. We show that...

As part of the current debate on the reform of pension systems, this article examines the potential effects on consumption behaviour of implementing a lump-sum payment in a public pension system. This work explores an experimental investigation into retirement consumption behaviour with two...

We compare a social security system where people can retire at an age of their own choice with one in which there is a legal retirement age elected through a majority voting process. We show that individuals prefer a legal retirement age higher than the one they would choose in the flexible...

This paper examines the role that low-skilled immigrant labor force plays in determining the benefits of the public pension of the host population. With an overlapping-generations model in continuous time which allows to identify which groups of native population are better or worse off with...

We analyze the relationship between wage distribution, degree of redistribution of the Social Security and effective retirement age. We develop a two-staged political economy model. In the first stage government chooses the redistribution level of the Social Security Program, according to three...

We focus on the consequences of a voting process on the retirement age when agents have different ages and wages. We have two groups: retired people and workers. Once the retirement age is determined through a voting process, we verify if that age will keep the same popular support in future...

This article examines an intra- and international trust game experiment among Moroccan, French and Spanish subjects. Before making each decision, participants were informed on the nationality of their partner. We find that, overall, subjects from Morocco exhibited a higher level of trust....

This paper analyzes the effect on performance and earnings of delegating the wage choice to employees. Our results show that such delegation significantly increases effort levels. Moreover, we observe a Pareto improvement, as the earnings of both employers and employees increase when employers...

The paper reports an experimental study on a promotion-demotion mechanism to mitigate the free-rider problem in team production. The "mechanism hierarchically splits a group in two; we refer to one subgroup as" the major league and to the other as the minor league. The most cooperative subject...