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Delegation in long-term relationships
Schütte, Miriam; Wichardt, Philipp C. - 2012
This paper considers the e effcts of a two-period interaction on the decision of a principal to delegate authority to a potentially biased but better informed agent. Compared to the (repeated) one-period case, the agent's first period actions may also signal his type which in turn impacts wages...
Persistent link: https://www.econbiz.de/10009615156
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Who Cooperates? Reciprocity and the Causal Effect of Expected Cooperation in Representative Samples
Bechtel, Michael M.; Scheve, Kenneth - 2017
correlate with expectations about cooperation by others among students and other demographic subgroups. However, we lack … knowledge about whether the effect of expected cooperation is causal and a general feature of populations. We fielded … a novel between-subjects experiment. The experiment varied expectations about cooperation by others. We find that higher …
Persistent link: https://www.econbiz.de/10014146934
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A dynamic life cycle model for Germany with unemployment uncertainty
Biewald, Anne - 2008
This work analyzes the saving and consumption behavior of agents faced with the possibility of unemployment in a dynamic and stochastic life cycle model. The intertemporal optimization is based on Dynamic Programming with a backward recursion algorithm.The implemented uncertainty is not based on...
Persistent link: https://www.econbiz.de/10009449071
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Is there a fade-away effect of initial nonresponse bias in EU-SILC?
Rendtel, Ulrich - 2015
Nonresponse in surveys may result in a distortion of the distribution of interest. In a panel survey the participation behavior in later waves is different from the participation behavior at the start. With register data that cover also the information for non-respondents one can observe a fade...
Persistent link: https://www.econbiz.de/10011312698
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Asymptotic income distribution in the German Socio-Economic Panel (SOEP) : income inequality and Darwinian fitness
Montano, Diego - 2011
In this paper, the relation between income inequality and population growth is analized from a Darwinian perspective. A Markov chain population growth model is presented and estimated using data from the German Socio-Economic Panel (SOEP). We estimate both population growth rates and...
Persistent link: https://www.econbiz.de/10009412039
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Optimistic, but not in control : life-orientation and the theory of mixed control
Urbig, Diemo; Monsen, Erik - 2009
Why are some people more optimistic about their life than others? Literature on locus of control suggests that optimism is associated with the belief that one’s life outcomes are controlled by internal factors, such as ability, instead of external factors, such as powerful others or chance....
Persistent link: https://www.econbiz.de/10003809924
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Financial advisors : a case of babysitters?
Hackethal, Andreas; Chaliasos, Michaēl; Jappelli, Tullio - 2009
We merge administrative information from a large German discount brokerage firm with regional data to examine if financial advisors improve portfolio performance. Our data track accounts of 32,751 randomly selected individual customers over 66 months and allow direct comparison of performance...
Persistent link: https://www.econbiz.de/10003864097
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Herding with and without payoff externalities : an internet experiment
Drehman, Mathias; Oechssler, Joerg; Roider, Andreas - 2005
Most real world situations that are susceptible to herding are also characterized by direct payoff externalities. Yet, the bulk of the theoretical and experimental literature on herding has focused on pure informational externalities. In this paper we experi- mentally investigate the effects of...
Persistent link: https://www.econbiz.de/10003380747
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Parental investment and the intergenerational transmission of economic preferences and attitudes
Zumbühl, Maria; Dohmen, Thomas; Pfann, Gerard A. - 2013
We study empirically whether there is scope for parents to shape the economic preferences and attitudes of their children through purposeful investments. We exploit information on the risk and trust attitudes of parents and their children, as well as rich information about parental efforts in...
Persistent link: https://www.econbiz.de/10009765617
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Herding and contrarian behavior in financial markets : an internet experiment
Drehmann, Mathias; Oechssler, Joerg; Roider, Andreas - 2004 - Revised version: June 2004, First version: November 2002
Lecture on the first SFB/TR 15 meeting, Gummersbach, July, 18 - 20, 2004: We report results of an internet experiment designed to test the theory of informational cascades in financial markets (Avery and Zemsky, AER, 1998). More than 6400 subjects, including a subsample of 267 consultants from...
Persistent link: https://www.econbiz.de/10010361992