infonet-economy

Die Gesundheitsausgaben steigen seit langem zügig, und alle Versuche der Politik, dies zu dämpfen, erscheinen mehr oder
weniger erfolglos. Der Gesundheitsökonom Peter Zweifel legt dar, wie die grundlegenden Kräfte bei der Entwicklung
des Gesundheitssektors wirken, welche Rolle Bundes- und Kantonspolitiker spielen können und wie sich die Konflikte
zwischen Bürgern...

This microeconometric study analyzes the effects of individual leisure sports participation on long-term labour market variables, on socio-demographic as well as on health and subjective well-being indicators for West Germany based on individual data from the German Socio-Economic Panel study (GSOEP) 1984 to 2006. Econometric problems due to individuals choosing their own level of...

We consider a setting in which two potential merger partners each possess private information pertaining
both to the profitability of the merged entity and to stand-alone profits, and we investigate the extent to
which this private information makes ex-post regret an unavoidable phenomenon in merger negotiations.
To this end, we consider ex-post incentive compatible...

This paper investigates how subjects determine minimum selling prices for lotteries. We design an experiment where subjects have at every moment an incentive to state their minimum selling price and to adjust the price if they believe that the price that they stated initially was not optimal. We observe frequent and sizeable price adjustments. We find that random pricing models can...

Discrete Choice Experiments (DCEs) designed to estimate willingness-to-pay (WTP) values are very popular in health economics. With increased computation power and advanced simulation techniques, random-coefficient models have gained an increasing importance in applied work as they allow for taste heterogeneity. This paper discusses the parametrical derivation of WTP values from...

Stein's lemma is extended to the case where asset returns have skewed and leptokurtic distributions. The risk premium is still the negative of the covariance of the excess return with the log stochastic discount factor. The risk-neutral distribution has a simple form but is a nontrivial transformation of the physical distribution.