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Subsidies, knapsack auctions and Dantzig's greedy heuristic

Ensthaler, Ludwig; Giebe, Thomas - 2009

A budget-constrained buyer wants to purchase items from a shortlisted set. Items are differentiated by quality and sellers have private reserve prices for their items. Sellers quote prices strategically, inducing a knapsack game. The buyer's problem is to select a subset of maximal quality. We...

Persistent link: https://www.econbiz.de/10010271568

Environmental damage and price taking behaviour by firms and consumers

Houba, Harold; Kremers, Hans - 2009

Integrated assessment models lack a microeconomic foundation in modelling environmental damages to the economy. To overcome this, damage coefficients are incorporated in standard microeconomic models. Firms and consumers take both damages and prices as given. Demand, supply, profit and...

Persistent link: https://www.econbiz.de/10010271573

Noncompliance and the effects of the minimum wage on hours and welfare in competitive labor markets

Danziger, Leif - 2009

This paper shows that increases in the minimum wage rate can have ambiguous effects on the working hours and welfare of employed workers in competitive labor markets. The reason is that employers may not comply with the minimum wage legislation and instead pay a lower subminimum wage rate. If...

Persistent link: https://www.econbiz.de/10010271577

Fairness und ihr Preis

Schneider, Andrea; Zimmermann, Klaus W. - 2010

Based on the premise that fairness is different from equity and that it is primarily used in informal contexts we present an economic approach to fairness. Discussing the results of behavioral economics reveals the experience that people do not accept a monetary offer even if that collides with...

Persistent link: https://www.econbiz.de/10010271587

Safety-first portfolio optimization: Fixed versus random target

Singer, Nico - 2010

Safety-first portfolio optimization is concerned with maximizing the expected portfolio return subject to a safety-first constraint, which is defined as the probability of failing to achieve a specified target. Commonly the target is assumed to be fixed, which, however, leads to significant...

Persistent link: https://www.econbiz.de/10010271591

A theory of migration as a response to occupational stigma

Stark, Oded; Fan, C. Simon - 2009

Drawing on the literature of occupational status and social distance, a theory is developed of labor migration that is … Theorie zur Migration von Arbeitskraft, die den Wunsch des Einzelnen mit einbezieht, eine Abwertung des sozialen Status zu …

Persistent link: https://www.econbiz.de/10010271615

Casting the naturalization of asylum seekers as an economic problem

Stark, Oded - 2010

The naturalization of asylum seekers is modeled as an economic problem. In choosing their level of investment in host-country-specific human capital, asylum seekers take into consideration the probability of their being naturalized. The government of the host country chooses the probability of...

Persistent link: https://www.econbiz.de/10010271618

An evolutionary edge of knowing less (or: on the 'Curse' of global information)

Stark, Oded; Behrens, Doris A. - 2009

Consider a population of farmers who live around a lake. Each farmer engages in trade with his two adjacent neighbors. The trade is governed by a prisoner's dilemma 'rule of engagement'. A farmer's payoff is the sum of the payoffs from the two prisoner's dilemma games played with his two...

Persistent link: https://www.econbiz.de/10010271620

Multinational enterprises and new trade theory: evidence for the convergence hypothesis

Barrios Cobos, Salvador; Görg, Holger; Strobl, Eric - 2000

According to the ‘convergence hypothesis’ multinational companies will tend to displace national firms and trade as … to proxy bilateral FDI between two countries and address their properties with regard to the convergence hypothesis … convergence and bilateral FDI. Our results provide some empirical support for the convergence hypothesis. …

Persistent link: https://www.econbiz.de/10010271737

Entrepreneurship, Agglomeration and Technological Change

Ács, Zoltán J.; Varga, Attila - 2004

-motivated individual behavior. In endogenous growth theory knowledge spillovers play a fundamental role in the determination of the rate of …

Persistent link: https://www.econbiz.de/10010271741