infonet-economy

Recent field evidence suggests a positive link between overconfidence and innovative activities. In this paper we argue that the connection between overconfidence and innovation is more complex than the previous literature suggests. In particular, we show theoretically and experimentally that different forms of overconfidence may have opposing effects on innovative activity. While...

This paper analysis the global distribution of art collections and collectors´ biases with respect to the origin of artworks. Employing a unique dataset we find that the greatest number of private art collections are located in Europe, North America and Asia. There are relatively few collections in Latin America and Africa. The artists whose oeuvres dominate the markets for collected...

The process of economic reforms launched in 1978, and gradually extended until current days, has catapulted China into a stellar growth trajectory that has proven highly resilient. In this paper, we estimate the effect on economic development of China’s industrial policy, in particular, the establishment of Special Economic Zones (SEZ), a salient economic reform. We use data from a...

Bereits zum dritten Mal erhielten Ökonomen den Wirtschaftsnobelpreis, die sich mit der
Bewertung von Anlagen befassen. An Arbeit wird es nicht mangeln, denn die Preisbildung von Vermögenswerten versteht man bis jetzt nur rudimentär.

All known human societies have maintained social order by enforcing compliance with social norms. The biological mechanisms underlying norm compliance are, however, hardly understood. We show that the right lateral prefrontal cortex (rLPFC) is involved in both voluntary and sanction-induced norm compliance. Both types of compliance could be changed by varying the neural excitability...

We provide a direct test of the impact of altruism on remittances. From a sample of 105 male migrant workers from Kerala, India working in Qatar, we elicit the propensity to share with others from their responses in a dictator game, and use it as a proxy for altruism. When the entire sample is considered, we find that only migrants' income robustly explains remittances. Altruism...

In den letzten zwanzig Jahren hat der Bund zahlreiche Anstrengungen unternommen, um die Innovationsleistungen
von Unternehmen und Hochschulen zu fördern. Die Massnahmen der Kommission für Technologie und Innovation (KTI) wurden im Kontext der «evidenzbasierten Politik» durch eine Vielzahl von Evaluationen untersucht. Eine Auswertung der
vorliegenden Studien aus dem...

We analyze the effect of rising Chinese import competition between 1990 and 2007 on US local labor markets, exploiting cross- market variation in import exposure stemming from initial differences in industry specialization and instrumenting for US imports using changes in Chinese imports by other high-income countries. Rising imports cause higher unemployment, lower labor force...