This paper presents an experimental investigation of risk taking in the domain of losses. The experiments are conducted with students in several universities during introduction rudiments to expected utility theory and risk behaviour. The results are partly compatible with expected utility...

This paper seeks to determine whether it is sufficient to revise administered trade procedures to reduce endogenous protectionist tendencies of the trade policy mechanism.

The aim of this research is to analyse the wage differentials between various groups of immigrants and the Swiss workers.

In second-best environmental policies, nonconvexities arise because of decreasing marginal pollution abatement costs. In this case, we chow that, unlike tradeable permits, taxes may introduce incorrect incentives. Moreover, even when taxes lead to efficient solutions, the tax rate should not be...