Using data from the German Socio-Economic Panel from 1984-2009, we follow persons from their working life into their retirement years and find that, on average, employed people maintain their life satisfaction upon retirement, while long-term unemployed people report a substantial increase in...

Consumption theory has always been a neglected field in Post Keynesian economics, whereas it is at the center of New Keynesian economics. This paper investigates similarities and differences between the two approaches. I will show that the newer mainstream models indeed give results that are...

Terrorist attacks can have profound consequences for the erosion of social norms, yet the causes of this erosion are not well understood. We argue that these attacks create substantial uncertainty about whether norms of civic conversation still hold. Observing breaches of these norms then leads...

Do individuals trained in law enforcement punish or reward differently from typical student subjects? We analyze norm enforcement behavior of newly appointed police commissioners in both a Voluntary Contribution Mechanism game and a Common Pool Resource game. Our experimental design includes...

We consider a society with informed individuals (adults) and naive individuals (children). Adults are altruistic towards their own children and possess information that allows to better predict the behavior of other adults. Children benefit from adopting behaviors that conform to the social norm...