infonet-economy

This paper critically evaluates the contention that the implementation of the Trans-Pacific Partnership would adversely affect the centrality of the World Trade Organization. Not only are many Asian nations members of the WTO, but some undertook major reforms to join. Contrary to much existing literature, it is argued here that governments in the Asia-Pacific region should not be…

People’s fairness preferences are an important constraint for what constitutes an acceptable economic transaction, yet little is known about how these preferences are formed. In this paper, we provide clean evidence that previous transactions play an important role in shaping perceptions of fairness. Buyers used to high market prices, for example, are more likely to perceive high…

Drawing on research from design science, marketing and service science, our paper provides an integrated framework for evaluating and directing innovative service design. The main goal of our review is to highlight the strengths of existing frameworks and to suggest how they can be enhanced in combination with design science principles. Based on our review, we propose a new framework…

Profit and its investment in productive activities lie at the heart of modern monetary economies. Indeed, it is thanks to profit investment that fixed capital is produced and used by companies to increase the number of consumption goods and, ultimately, to increase the wealth of households. Yet, despite economists’ full understanding of corporate gains from a microeconomic…

Neurobiological models of self-control predominantly focus on the role of prefrontal brain mechanisms involved in emotion regulation and impulse control. We provide evidence for an entirely different neural mechanism that promotes self-control by overcoming bias for the present self, a mechanism previously thought to be mainly important for interpersonal decision-making. In two…

Ernst Fehr baut die Wirtschaftsfakultät der Universität Zürich kräftig aus – auf rund 30 Professoren

As globalization brings people with incompatible attitudes into contact, cultural conflicts inevitably arise. Little is known about how to mitigate conflict and about how the conflicts that occur can shape the cultural evolution of the groups involved. Female genital cutting is a prominent example1, 2, 3. Governments and international agencies have promoted the abandonment of cutting…

This introductory umbrella chapter interlinks the three essays of this dissertation thesis and explains their stance towards the economic discipline. The essays focus on two key exchange rate puzzles, which are the forward premium puzzle of Fama (1984) and the consumption real exchange rate correlation puzzle of Backus and Smith (1993). As regards the first puzzle, this thesis…