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Marriage and consumption insurance: what's love got to do with it?

Hess, Gregory D. - 2002

means and volatilities of partners' incomes are also derived from the theory and tested. …

Persistent link: https://www.econbiz.de/10010271975

Ordinal cheap talk in common value auctions

Chakraborty, Archishman; Gupta, Nandini; Harbaugh, Rick - 2002

Sellers benefit on average from revealing information about their goods to buyers, but the incentive to exaggerate undermines the credibility of seller statements. When multiple goods are being auctioned, we show that ordinal cheap talk, which reveals a complete or partial ordering of the...

Persistent link: https://www.econbiz.de/10010271978

Terrorism from within: an economic model of terrorism

Blomberg, S. Brock; Hess, Gregory D.; Weerapana, Akila - 2002

country to the economic circumstances facing that country. We briefly sketch out a theory, in the spirit of Tornell (1998 … resources is more abundant and terrorism is reduced. Our empirical results are consistent with the theory. We find that for …

Persistent link: https://www.econbiz.de/10010271984

Production sharing and regional integration

Arndt, Sven W. - 2002

Persistent link: https://www.econbiz.de/10010271989

For better or for worse? State-level marital formation and risk sharing

Chami, Ralph; Hess, Gregory D. - 2002

Why do some U.S. states have higher levels of marital formation than others? This paper introduces an economic model wherein a state's representative individual may choose to marry in order to diversity his or her idiosyncratic income risk. The paper demonstrates that such a diversification...

Persistent link: https://www.econbiz.de/10010271992

Fear of floating needn't imply fixed rates: feasible options for intermediate exchange rate regimes

Willett, Thomas D. - 2002

The criteria of the theory of optimum currency areas suggest that many (most?) countries are not good candidates for … setting monetary policy. It is argued that OCA theory provides the framework for determining the appropriate weights and …

Persistent link: https://www.econbiz.de/10010271993

The emergence of correlations in studies of global economic inter-dependence and contagion

Friedman, Eric J.; Johnson, Simon; Landsberg, A. S. - 2003

We construct a simple firm-based automata model for global economic inter-dependence of countries using modern notions of self-organized criticality and recently developed dynamical-renormalization-group methods (e.g., L. Pietronero et al., Phys. Rev. Lett., 72(11):1690 (1994); J. Hasty and K....

Persistent link: https://www.econbiz.de/10010271994

Cheap talk comparisons in multi-issue bargaining

Chakraborty, Archishman; Harbaugh, Richmond - 2002

Bargaining over two issues as a bundle permits credible cheap talk about their relative importance even when interests are directly opposed on each issue. The resulting communication gains can exceed the gains from bundling previously identified in the monopoly pricing literature.

Persistent link: https://www.econbiz.de/10010272000

Trade protectionism

Kaempfer, William H.; Tower, Edward; Willett, Thomas D. - 2002

Persistent link: https://www.econbiz.de/10010272007

Skill reputation, prospect theory, and regret theory

Harbaugh, Richmond - 2002

help explain several anomalies associated with prospect theory, including probability weighting, loss aversion, and framing …. Prospect theory's four-fold pattern of probability weighting predicts that decision makers favor long-shots, avoid near sure … those of prospect theory, they differ in some cases, allowing for tests between the theories. The theoretical predictions …

Persistent link: https://www.econbiz.de/10010272010