In this paper, a specific form of human capital is analyzed, relational capital, which consists of matches between market parties. Search and information costs make these matches valuable to both parties. Its peculiarity is that the control over such matches is transferred within firms from...

Analyzed is the hypothesis that individuals try to maximize their life-satisfaction. The approach was to derive empirically testable predictions as to the relationships between intentions, actions, importance weights, and satisfaction levels that would be consistent with the hypothesis, and to...

In this paper we argue that authorities aid cooperation by means of direct coordination or the enforcement of pre-commitment devices such as contract laws.Credible threats of violence allow this role. In a local interaction model, an authority forms if mutually connected individuals with...

In this paper, a specific form of human capital is analyzed, relational capital, which consists of matches between market parties. Search and information costs make these matches valuable to both parties. Its peculiarity is that the control over such matches is transferred within firms from...

Analyzed is the hypothesis that individuals try to maximize their life-satisfaction. The approach was to derive empirically testable predictions as to the relationships between intentions, actions, importance weights, and satisfaction levels that would be consistent with the hypothesis, and to...

In this paper we attempt to explain individual, ordinarily comparable, satisfaction levels. We postulate a simultaneous equation model where general satisfaction is explained by exogenous shock and level variables, and by the values of the satisfactions with respect to six distinct endogenous...

Subjective Well-Being has increasingly been studied by several economists. This paper fits in that literature but takes into account that there are different aspects of life such as health, financial situation, and job. We call them domains. In this paper, we consider Subjective Well-Being as a...

What happens when immigrant girls are given increased opportunities to integrate into the workplace and society, but their parents value more traditional cultural outcomes? Building on Akerlof and Kranton’s identity framework (2000), we construct a simple game-theoretic model which shows how...

In 2020 and 2021, the world witnessed policies that caused enormous net damage to nearly every country. We demonstrate the usefulness of the new WELLBY currency in gauging the costs and benefits of COVID policies and review the contributions of Australian economists to the scholarly and public...