Most studies of subjective well-being in developing countries use cross-sectional data, which makes it difficult to control for unobserved individual heterogeneity. In this paper, we use three rounds of panel data and robust non-linear panel data models to investigate the trends and determinants...

This paper investigates the long-run influence of the Neolithic Revolution on contemporary cultural norms and institutions as reflected in the imension of collectivism-individualism. We outline an agricultural origins-model of cultural divergence where we claim that the advent of farming in a...

Much evidence suggests that between-country social comparisons have become more important over time due to globalization. This paper analyzes optimal income taxation in a multi-country economy, where consumers derive utility from their relative consumption compared with both other domestic...

This paper uses data from the Gothenburg District Court in Sweden and a research design that exploits the random assignment of politically appointed jurors (termed nämndemän) to make three contributions to the literature on jury decision-making: (i) an assessment of whether systematic biases...

Policymakers have largely replaced Single Bounded Discrete Choice (SBDC) valuation by the more statistically efficient repetitive methods; Double Bounded Discrete Choice (DBDC) and Discrete Choice Experiments (DCE). Repetitive valuation permits classification into rational preferences: (i)...

In September 2008, during one of the most intense periods of the financial crisis, the Financial Services Authority (FSA) decided to ban short-selling in financial stocks during four months in the U.K. market. The aim of the ban was to guard against instability and calm the market. This paper...

A range of alternatives to the Global Warming Potential (GWP) have been suggested in the scientific literature. One of these alternative metrics that has received significant attention is the cost-effective relative valuation of greenhouse gases. However, this metric is based on complex...

Prior to the launch of the EU Emissions Trading System (EU ETS) in 2005, the electricity sector was widely proclaimed to have more low-cost emission abatement opportunities than other sectors. If this were true, effects of the EU ETS on carbon dioxide (CO2) emissions would likely be visible in...

We explore the effect of income inequality and peer punishment on voluntary provision of public goods in an experimental context. Our sample draws from nine fishing communities in South-Africa where high levels of inequality prevail. We find that aggregate cooperation is higher in both the...

This paper employs the intertemporal consumption smoothing approach to the current account to measure the effective degree of Chinas international capital mobility during the period 1958-98. In contrast to all previous known country studies using this framework, the hypothesis that capital has...