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Economic Consequences of Mispredicting Utility

Individuals make systematic mistakes in their decisions, because they mispredict utility from choice options. When deciding, extrinsic attributes of choice options are more salient than intrinsic attributes. Adaptation is neglected, recollection of feelings is distorted, decisions are rationalized and wrong intuitive theories of happiness are applied. People overestimate extrinsic...

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English / 01/12/2004

Noncooperative support of public norm enforcement in large societies

In small groups norm enforcement is provided by mutual punishment and reward. In large societies we have enforcement institutions. This paper shows how such institutions can emerge as a decentralized equilibrium. In a first stage, individuals invest in a public enforcement technology. This technology generates a sanctioning system whose effectiveness depends on the aggregate amount...

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English / 01/12/2004

Consumer mobility in social health insurance markets: a five-country comparison

During the 1990s, the social health insurance schemes of Germany, the Netherlands, Switzerland, Belgium and Israel were significantly reformed by the introduction of freedom of choice (open enrolment) of health insurer. This was introduced alongside a system of risk adjustment to compensate health insurers for enrolees with predictable high medical expenses. Despite the similarity in...

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Deutsch / 01/12/2004

Job type and recruiters' inferences of applicant personality drawn from resume biodata : Their relationships with hiring recommendations

Using data collected from 244 recruiters who reviewed resumes and made dispositional inferences and hiring recommendations for 122 entry-level job applicants, we found that type of job opening (Holland's Conventional vs. Enterprising jobs) moderated relationships between recruiter inferences of applicant personality traits and recruiter judgments of applicant employability....

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English / 01/12/2004

Trust, voluntary cooperation, and socio-economic background: Survey and experimental evidence

We report survey and experimental evidence on trust and voluntary cooperation from more than 630 non-student and student participants in rural and urban Russia. Our subjects have a diverse socioeconomic background that we relate to the answers of a survey on trust attitudes and to contribution behavior in a one-shot public goods game. We find that the socio-economic background...

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English / 01/12/2004

Solution of Macromodels with Hansen-Sargent Robust Policies: Some Extensions

We summarize some methods useful in formulating and solving Hansen-Sargent robust control problems, and suggest extensions to discretion and simple rules. Matlab, Octave, and Gauss software is provided. We illustrate these extensions with applications to the term structure of interest rates, the time inconsistency of optimal monetary policy, the effects of expectations on the...

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English / 01/12/2004

The Sequencing of Regional Integration

Recent years have seen a proliferation of preferential trading agreements, with certain nations signing a sequence of agreements over time. This latter fact raises the question as to what factors determine the sequence of trade agreements that a nation, or group of nations, enters into. Drawing upon both long-standing European experience and recent developments in East Asia, this...

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English / 01/12/2004

Wertfreiheit und Objektivität in den Wirtschaftswissenschaften: Mythos oder Realität?

After a short description of some positions which reject the principle of value freedom and after a short specification of what is meant with this principle, first the relation between the genesis of a scientific statement and its validity is discussed. There, we also tackle the problem of pre-testing in empirical research. Then, we consider value loaded statements of economists. If...

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Deutsch / 01/12/2004

Ökonomische Theorie der Verfassung

In this paper the approach of Constitutional Economics is presented and some of its applications are shown. First, the concept of the original position (constitutional convention) with its informational restrictions and the unanimity rule are discussed. Next, the exchange paradigm which lies behind the whole approach and the role of the self-interest assumption are discussed. Then it...

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Deutsch / 01/12/2004

Schaltegger, Christoph A. und Stefan C. Schaltegger (Hrsg.) (2004): Perspektiven der Wirtschaftspolitik - Festschrift zum 65. Geburtstag von Prof. Dr. René L. Frey

Mit dem Sammelband «Perspektiven der Wirtschaftspolitik - Festschrift zum 65. Geburtstag von Prof. Dr. René L. Frey» wird eine akademische Persönlichkeit geehrt,die es in ihrem über 30-jährigen Wirken an der Universität Basel verstanden hat, Brücken zwischen volkswirtschaftlicher Forschung, Beratung und Lehre und damit zwischen Theorie und Praxis zu bauen. Die nebst einem Vorwort von...

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English / 01/12/2004

Zehn Jahre WTO-Streitschlichtung: Eine Zwischenbilanz / L'OMC: un bilan intermédiaire après dix ans de règlement des différends

Mit dem WTO-Abkommen trat am 1. Januar 1995 ein neues Streitschlichtungsverfahren für das multilaterale Handelssystem in Kraft. Der neue Mechanismus brachte eine stärkere Regelorientierung bei der Beilegung von Handelsstreitigkeiten. Nach zehn Jahren Anwendung kann sich die Zwischenbilanz sehen lassen: Das Verfahren wird von den Mitgliedern rege genutzt, und auch die...

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Deutsch / 01/12/2004

Developing language strategies for international companies: The contribution of translation studies

This article introduces translation studies in order to theorize about the ways in which international companies approach language diversity. Its purpose is to develop different language strategies relying on theoretical insights borrowed from translation studies. Inspired by historical developments in this discipline, we identify three metaphorical perspectives each with a different...

Deutsch / 01/11/2004

Zum Zusammenhang zwischen staatlicher Aktivität und wirtschaftlicher Entwicklung

First, the problem of defining the government size and theoretical considerations about the relation between this size and economic growth are discussed. Then the international comparative empirical literature as well as the one discussing the Swiss situation are reviewed. Neither of them comes to firm conclusions. One reason for this is that in international cross-section as well as...

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Deutsch / 01/11/2004

The Role of Direct Democracy in the European Union

In this paper, the introduction of direct-democratic decision-making in all EU decisions is considered when it is feasible without prohibitively increasing decision-making costs. We start with the contractarian argument that each constitution is a contract joining the citizens of a state and requires as such the explicit agreement of (a majority of) citizens. Thus, the future...

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English / 01/11/2004

Auswirkungen der IFRS-Rechnungslegungs-Standards auf das Controlling

Interview mit Dipl. Betriebswirt Alfred Biel, geführt durch Dipl. Kaufmann techn. Stefan Grösser zum Thema "IFRS-Rechnungslegungs-Standards und deren Auswirkungen auf das Unternehmenscontrolling".

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Deutsch / 01/11/2004

Improved risk information, the demand for cigarettes, and anti-tobacco policy

This paper purports to develop a simple microeconomic model designed to shed light on behavioral change induced by improved information about smoking risks. It predicts the conditions in which improved information indeed increases the demand for cigarettes. After recalling the economic rationale of an anti-tobacco policy, the article points out a few startling implications of...

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English / 28/10/2004

International capital mobility in the long run and the short run: can we still learn from saving–investment data?

The idea to learn about international capital mobility from saving and investment data remains appealing. Our approach is based on VAR methods and overcomes some of the problems associated with saving–investment regressions when the data are non-stationary. We propose a new measure of long-run capital mobility that can be easily calculated as a by-product of the estimation procedure...

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English / 28/10/2004

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