Showing 1 - 10 of 302
Many experiments have been conducted on market mispricing, however there is a distinct lack of guidance over how mispricing should be measured. This raises concerns about the sensitivity of mispricing results to variations in the measurement procedure. In this paper, we investigate the...
Persistent link: https://www.econbiz.de/10012964384
Mispricing (the difference between prices and their underlying fundamental values) is an important characteristic of markets. The literature on the topic consists of many different measures. This state of affairs is unsatisfactory, since it is not clear to which extent results are sensitive to...
Persistent link: https://www.econbiz.de/10013032538
The welfare contributions of the digital economy, characterized by the proliferation of new and free goods, are not well-measured in our current national accounts. We derive explicit terms for the welfare contributions of these goods and introduce a new metric, GDP-B which quantifies their...
Persistent link: https://www.econbiz.de/10012890235
This paper presents an econometric mediation analysis. It considers identification of production functions and the sources of output effects (treatment effects) from experimental interventions when some inputs are mismeasured and others are entirely omitted.
Persistent link: https://www.econbiz.de/10009787343
This paper presents an econometric mediation analysis. It considers identification of production functions and the sources of output effects (treatment effects) from experimental interventions when some inputs are mismeasured and others are entirely omitted
Persistent link: https://www.econbiz.de/10013077306
When faced with the choice of behaving corruptly, are people more willing to accept a bribe or to embezzle money? Situations of bribery and embezzlement usually differ in their decision-making dynamics, with bribery requiring coordination between decision-makers (i.e., briber and bribee) while...
Persistent link: https://www.econbiz.de/10014581730
Field evidence suggests that people belonging to the same group often behave similarly, i.e., behaviour exhibits social interaction effects. We conduct an experiment that avoids the identification problem present in the field. Our novel design feature is that each subject simultaneously is a...
Persistent link: https://www.econbiz.de/10010262127
This paper contributes to the ongoing methodological debate on context-free versus in-context presentation of experimental tasks. We report an experiment using the paradigm of a bribery experiment. In one condition, the task is presented in a typical bribery context, the other one uses abstract...
Persistent link: https://www.econbiz.de/10010263068
The most famous element in Bentham's theory of punishment, the Panopticon Prison, expresses his view of the two purposes of punishment, deterrence and special prevention. We investigate Bentham's intuition in a public goods lab experiment by manipulating how much information on punishment...
Persistent link: https://www.econbiz.de/10010270435
Do criminals maximise money? Are criminals more or less selfish than the average subject? Can prisons apply measures that reduce the degree of selfishness of their inmates? Using a tried and tested tool from experimental economics, we cast new light on these old criminological questions. In a...
Persistent link: https://www.econbiz.de/10010270634