infonet-economy

The British Industrial Revolution triggered a socioeconomic transformation whereby the landowning aristocracy was replaced by industrial capitalists rising from the middle classes as the economically dominant group. We propose a theory of preference formation under financial-market imperfections that can account for this pattern. Parents shape their children’s preferences in response...

Die neuen Swiss GAAP FER regeln die Bewertung des materiellen Anlagevermögens sowohl in den Kern-FER als auch in weiteren Standards. Dank des modularen Systems orientiert sich der Detaillierungsgrad der Empfehlungen an der Grösse der Organisation. Es ist Aufgabe dieses Beitrags, das den SWISS GAAP FER zugrunde liegende Konzept der Bewertung der Sachanlagen in einem logischen...

Les Swiss GAAP RPC tiennent compte des préoccupations des PME suisses, et
notamment de leur souci de s’assurer un rapport coût-bénéfice raisonnable. Le
présent article illustre le concept des Swiss GAAP RPC ainsi que des RPC
fondamentales (cadre conceptuel et Swiss GAAP RPC 1 à 6).

One can be independent, or one can be subject to decisions made by others. This paper argues that this difference, embodied in the institutional distinction between the decision-making procedures ‘market’ and ‘hierarchy’, affects individual wellbeing beyond outcomes. Taking self-employment as an important case of independence, it is shown that the self-employed derive higher...

The paper analyzes the e?ects of more intense competition on ?rms’ incentives to invest in process innovations. We carry out experiments based on two-stage games, where R&D investment choices are followed by product market competition. As predicted by theory, an increase in the number of ?rms from two to four reduces investments. However, a positive e?ect is observed for a switch...

We consider an economy where decision maker(s) do not know the true production function for a public good. By using Bayes rule they can learn from experience. We show that the economy may learn the truth, but that it may also converge to an inefficient policy where no further inference is possible so that the economy is stuck in an information trap. We also show that our results are...

We provide a systematic comparison of punishment from unaffected third parties and affected second parties using a within-subject design in ten simple games. We apply the classification analysis by El-Gamal and Grether (1995) and find that a parsimonious model assuming subjects are either envious or selfish best explains the punishment from both third and second parties. Third and...

The paper characterizes the mixed-strategy equilibria in all-pay auctions with endogenous prizes that depend positively on own e?ort and negatively on the e?ort of competitors. Such auctions arise naturally in the context of investment games, lobbying games, and promotion tournaments. We also provide an experimental analysis of a special case which captures the strategic situation of...

In a recent fMRI study with identical word stimuli we demonstrated task-dependent lateralization of brain activity during visual processing, with left-hemispheric activations for letter decisions and right-hemispheric activations for visuospatial decisions (Stephan, K.E.,
Marshall, J.C., Friston, K.J., Rowe, J.B., Ritzl, A., Zilles, K., Fink, G.R., 2003. Lateralized Cognitive...