In this paper we study expectations coordination on a deterministic 2-cycle by an "eductive" approach in which agents are concerned with forecasting the forecasts of others. This approach is grounded in some Common Knowledge assumption. We show that eductively stable 2-cycles exit. We also show...

In this paper, we present a collective model of household demand based on Pareto-efficiency. In addition, we suppose that (i) each household member is egoistic and consumption is purely private, (ii) there is a set of distribution factors and (iii) there is one exclusive good. Then we derive the...

Empirical labour economics largely considers that wages and hours of work are sufficient indicators of job quality. Using information on 14000 workers in 19 OECD countries it is shown that, first, workers actually say that wages and hours are amongst the least important characteristics of a job....