infonet-economy

This paper proposes a new model that explains the violations of expected utility theory throughnthe role of random errors. The paper analyzes decision making under risk when individuals makenrandom errors when they compute expected utilities. Errors are drawn from the normal distribution, which is truncated so that the stochastic utility of a lottery cannot be greater (lower) than...

It is a widely held opinion that apprenticeship training represents a net investment for training firms, and that therefore firms only train if they have the possibility to recoup these investments after the training period. A recent study using a new firm-level dataset for Switzerland showed, however, that for 60 percent of the firms, the apprenticeship training itself does not...

Ein erhöhtes Rentenalter erscheint dem Wirtschaftsethiker Peter Ulrich unsinnig ...

sowie Thurgauer Nachrichten, 27. Januar 2005, S. 16

Under certain cost conditions the optimal insurance policy offers full coverage above a deductible, as Arrow and others have shown. However, many insurance policies currently provide coverage against several losses although the possibilities for the insured to affect the loss probabilities by several prevention activities (multiple moral hazard) are substantially different. This...

The previous literature on the determinants of individual well-being has failed to fully account for the interdependencies in well-being at the family level. This paper develops an ordered probit model with multiple random effects that allows to identify the intra-family correlation in wellbeing. The parameters of the model can be estimated with panel data using Maximum Marginal...

Das Bundesamt für Berufsbildung und Technologie (BBT) erhebt in Zusammenarbeit mit dem Fraunhofer-Institut für Systemtechnik und Innovationsforschung (FhG-ISI) periodisch die Patentanmeldungen des Standorts Schweiz sowie der Schweizer Unternehmen weltweit. Daraus lässt sich ein Technologieportfolio ermitteln. Es bildet die Gesamtheit der technischen Fähigkeiten und Errungenschaften...

This paper examines the competitive effects of reorganizing a network industry's vertical structure. In this industry, an upstream monopolist operates a network used as an input to produce horizontally differentiated final products that are imperfect substitutes. Three potential pitfalls of restructuring integrated network industries are analyzed: (i) double marginalization, (ii...