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Impulsive consumption and reflexive thought: Nudging ethical consumer behavior

Lades, Leonhard K. - 2012

The paper deals with impulsive consumption and highlights the roles that cognitive and motivational aspects of reflexive thought (namely self-control and self-image motives, respectively) play in intertemporal decisions. While self-control inhibits individuals from consuming impulsively,...

Persistent link: https://www.econbiz.de/10010286765

Normative foundations for well-being policy

Haybron, Daniel M.; Tiberius, Valerie - 2012

This paper examines the normative principles that should guide policies aimed at promoting happiness or, more broadly, well-being. After arguing that well-being policy is both legitimate and necessary, we lay out a case for pragmatic subjectivism: given widely accepted principles of respect for...

Persistent link: https://www.econbiz.de/10010286767

Pursuing happiness

Schubert, Christian - 2012

While research on subjective well-being abounds, comparatively little thought has been given to its practical policy implications. Two approaches to derive policy advice have emerged in the literature: One is organized in terms of the idea to maximize a hedonic social welfare function, the other...

Persistent link: https://www.econbiz.de/10010286769

The optimal inflation rate and firm-level productivity growth

Weber, Henning - 2012

Empirical data show that firms tend to improve their ranking in the productivity distribution over time. A stickyprice model with firm-level productivity growth fits this data and predicts that the optimal long-run inflation rate is positive and between 1.5% and 2% per year. In contrast, the...

Persistent link: https://www.econbiz.de/10010286841

A continuous labour supply model in microsimulation: A life-cycle modelling approach with heterogeneity and uncertainty extension

Li, Jinjing; Sologon, Denisa Maria - 2011

This paper advances a structural inter-temporal model of labour supply that is able to simulate the dynamics of labour supply in a continuous setting and to circumvent two main drawbacks of most of the existing models. The first limitation is the inability to incorporate individual heterogeneity...

Persistent link: https://www.econbiz.de/10010286858

Heterogeneous firms, trade, and economic policy: Insights from a simple two-sector model

Pflüger, Michael; Russek, Stephan - 2011

consumers has inspired the development of a new brand of trade theory, the theory of heterogeneous firms and trade. The …

Persistent link: https://www.econbiz.de/10010286896

Securitization and moral hazard: Evidence from a lender cutoff rule

Bubb, Ryan; Kaufman, Alex - 2009

perapplicant fixed costs in screening. We then demonstrate that our theory fits the data better than the main alternative theory … already in the literature, which supposes cutoff rules are exogenously used by securitizers. Furthermore, we use our theory to …

Persistent link: https://www.econbiz.de/10010286943

Securitization and moral hazard: Evidence from credit score cutoff rules

Bubb, Ryan; Kaufman, Alex - 2011

research has hypothesized that these cutoff rules result from a securitization rule of thumb. Under this theory, an observed … model that rationalizes such an origination rule of thumb. Under this alternative theory, jumps in default are not evidence … securitization rule-of-thumb theory but consistent with the origination rule-of-thumb theory. There are jumps in the number of loans …

Persistent link: https://www.econbiz.de/10010286944

Conflict games with payoff uncertainty

Baliga, Sandeep; Sjostrom, Tomas - 2009

Stag hunt and chicken games are canonical representations of two kinds of strategic interactions. In stag hunt, aggression feeds on itself, and mutual fear escalates into conflict. Chicken is a model of preemption and deterrence. With complete information, these games have multiple Nash...

Persistent link: https://www.econbiz.de/10010286963

Who said large banks don't experience scale economies? Evidence from a risk-return-driven cost function

Hughes, Joseph J.; Mester, Loretta - 2011

Earlier studies found little evidence of scale economies at large banks; later studies using data from the 1990s uncovered such evidence, providing a rationale for very large banks seen worldwide. Using more recent data, we estimate scale economies using two production models. The standard...

Persistent link: https://www.econbiz.de/10010286964