infonet-economy

After several decades of academic research on the contingent valuation (CV) method a consistent behavioral explanation of 'hypothetical bias' is still lacking. Based on evidence from economics, economic psychology and the political sciences, I propose an explanation that is based on two simple working hypotheses about respondent behaviour in contingent valuation surveys....

We analyse the effects of government-sponsored training for the unemployed conducted during East German transition. For the microeconometric analysis, we use a new, large and informative administrative database that allows us to use matching methods to address potential selection bias, to study different types of programmes, and to observe labour market outcomes over 8 years. We find...

An den geregelten Organen wie Verwaltungsrat und GV vorbei finden sich immer mehr "Aktivisten", die an den Finanzmärkten strategisch agieren und hier und da Unterstützung erhalten. Diese Gruppen profitieren von der weitgehenden Passivität des Privaten und auch des institutionellen Investors sowie der mangelhaften Transparenz mancher Unternehmung gegenüber den...

Combining the methods of neuroscience and economics generates powerful tools for studying the brain processes behind human social interaction. We argue that hedonic interpretations of theories of social preferences provide a useful framework that generates interesting predictions and helps interpret brain activations involved in altruistic, fair and trusting behaviors. These...

It has often been pointed out in the literature that a symbiotic relationship exists between terrorist groups and the media. As yet, however, no formal model has been built based on this issue and only very little empirical research has been done in this field. The present contribution builds a simple game theoretic model, focussing on the strategic interactions between terrorists...

In this paper we analyse the developments concerning risk adjustment and risk selection in Belgium, Germany, Israel, the Netherlands and Switzerland in the period 2000–2006. Since 2000 two major trends can be observed. On the one hand the risk adjustment systems have been improved, for example, by adding relevant health-based risk adjusters. On the other hand in all five countries...

High parental income, while undeniably causing beneÞts for a child in terms of better access to education and more favorable labor market outcomes, may at the same time increase a childÕs income aspirations and thereby reduce Þnancial satisfaction, ceteris paribus. In this paper, we investigate the relationship between Þnancial satisfaction and parental income with data from the...

This paper extends the traditional focus of active labor market policy evaluation from a static comparison of participation in a program versus nonparticipation (or participation in another program) to the evaluation of the effects of program sequences, i.e. multiple participation or timing of such programs. We use a dynamic evaluation framework that explicitly allows for dynamic...

Idiosyncratic consumption risk explains more than 60 percent of the cross-sectional variation in quarterly exchange rate changes and currency returns. Our results are obtained from data of 13 industrialized countries and arenbased on an international version of the consumption capital asset pricing model (CCAPM) in which we account for international consumption heterogeneity. We use...