In Western Europe and the US, the last couple of decades have witnessed a large increase in the new forms of marriages, usually called quasi-marriages, like cohabitation. Today in many European countries more than 15% of all couples are cohabiting. Furthermore, cohabiting couples differ from...

We report experiments that examine trader reaction to ambiguity when dividend information is revealed sequentially. We find that experienced traders are better at internalizing ambiguity than inexperienced subjects. No significant differences are observed in the ambiguity versus control...

We test the strategic motive to sell forward in experimental Cournot duopoly and quadropoly environments with multiple forward markets. Using random matching, we test two versions of forward markets with finite (Allaz and Vila, 1993) and indefinite number of periods. We find that the results for...

Strategic play requires that players in oligopolies be more sophisticated than in perfectly competitive markets. It thus seems reasonable to assume that player experience becomes important as the environment gets more complicated. We find that subject experience indeed plays an important role....

his paper examines, in the context of a multiple types of consumers, a set of necessary and sufficient conditions under which equilibrium and optimum exist, and involve mixing types of consumers in jurisdictions. Pricing includes visa permits for entry. Following Berglas (1976), we assume...

This paper proposes nonparametric consistent tests of conditional stochastic dominance of arbitrary order in a dynamic setting. The novelty of these tests resides on the nonparametric manner of incorporating the information set into the test. The test allows for general forms of unknown serial...

In this paper we attempt to rationalize markups in a sample of Spanish manufacturing by assuming a representative consumer, profit-maximizing firms and constant returns to scale. We find that the standard forms of demand (CES and linear) do not provide a good explanation of markups. In contrast,...

To prevent modern diseases such as obesity, cancer, cardiovascular conditions and diabetes, which have reached epidemic-like proportions in the last decades, many health experts have called for students to receive Health Education (HED) at school. Although this type of education aims mainly to...

We build a search model of the housing market which captures the illiquidity of housing assets. In this model, households experience idiosyncratic shocks over time which affect how much they value their residence (e.g. the location of their job could change). When hit by a shock, households...

In this document we present additional results for our main paper. First, we prove some properties of the steady state of our benchmark economy. Then, we present an alternative calibration