infonet-economy

In this paper we reexamine several experimental papers on myopic loss aversion by analyzing individual rather than aggregate choice patterns. We find that the behavior of the majority of subjects is inconsistent with the hypothesis of myopic loss aversion.

Through actions like product boycotts or imposing international labour standards, governments and consumer groups in rich countries put pressure on poor countries to discourage the use of child labour. But the child-labour problem in developing countries shows no sign of abating. Our research suggests that international activism may be partially to blame, because it can thwart...

Se fondant sur une «analyse d'enveloppement des données» («Data Envelopment Analysis», DEA), le présent article étudie la manière dont a évolué l'efficience des différentes universités suisses de 1999 à 2007 et identifie celles dont la performance a été inférieure aux autres. La plupart des établissements ont bien maîtrisé l'exigeant processus de réforme de la décennie...

This paper is concerned with clarifying the link between risk measurement and capital efficiency. For this purpose we introduce risk measurement as the minimum cost of making a position acceptable by adding an optimal combination of multiple eligible assets. Under certain assumptions, it is shown that these risk measures have properties similar to those of coherent risk measures. The...

Since the fall of the Soviet Union it has been necessary for Russia to form a coalition with at least one of the transit countries Belarus and Ukraine in order to be able to ship gas to western Europe. This paper models the gas transit game using a cooperative module to determine the bargaining power of the three countries. The bargaining power is dependent on the coalition that is...

Procurement auctions carry substantial risk when the value of the project is highly uncertain and known only to insiders. This paper reports the results from a series of experiments comparing the performance of three auction formats in such complex and risky settings. In the experiment, every bidder knows the private value for the project but only a single insider bidder knows the...