The effects of free of charge state education on income distribution are often studied by allocating government education outlays to households, assuming that these outlays equal the benefit which households attach to state schooling. This paper proposes a demand analysis approach to estimating...

This paper investigates household expenditure on education in Cyprus and analyses factors affecting the level of education using data from the Family Expenditure Surveys 1996/7, 2002/3 and 2008/9. The results obtained show that the level of education expenditure increases with income across...

This study investigates how various factors affect households demand for borrowing in Cyprus using data from the Family Expenditure Surveys for the years 2002/03 and 2008/09. The descriptive statistics show that middle income households with a younger age head have relatively high gross...

This paper investigates the willingness of households to pay for level (mean score) and egalitarian (deprivation compensating) components of the Contextual Value Added (CVA) indicator of school quality, which is used in England. Semi-parametric and parametric analysis shows that consumers are...

This paper investigates the willingness of households to pay for academic and equality-inducing (deprivation-compensating) components of the Contextual Value Added (CVA) indicator of school quality used in England. Semi-parametric and parametric analysis shows that consumers are willing to pay...

A consumer demand-based approach is proposed for estimating the shadow price of education relative to housing for households with children in state schools. This approach can be used together with or in place of a hedonic approach in countries in which the location of households is not disclosed...

We present and experimentally test a theoretical model of majority threshold determination as a function of voters’ risk preferences. The experimental results confirm the theoretical prediction of a positive correlation between the voter's risk aversion and the corresponding preferred majority...

We study ultimatum bargaining over the wage that should be paid in order to have a subject perform a given real task. Our results are obtained from experiments run in Greece, Spain and the UK. We find significantly higher wage offers and lower acceptance probabilities in the UK than in the other...

In the context of a quantity setting duopoly we experimentally test the ability of managerial compensation schemes to provide a commitment device leading to a more aggressive behavior in the product market. In line with our model, Relative Performance-based rewards are chosen more frequently...