We present and test the idea that bequest planning is linked with the experience of inheriting. We consider "a family tradition of bequeathing" as a channel through which the intention to bequeath is moulded by and is positively correlated with the experience of inheriting. Using data from the...

We relate an observed difference between single men (SM) and single women (SW) in attitudes towards risk to the higher value assigned to social status by SM than by SW. In the marriage market, low status carries a harsher penalty for SM than for SW because when selecting a partner, the social...

This paper looks at the integration of regions and nations through the prism of the merger of populations (societies). The paper employs a particular index of social stress. Stylized examples of the merging of two populations suggest that with integration, the social stress index will increase....

In three-person envy games, an allocator, a responder, and a dummy player interact. Since agreement payoffs of responder and dummy are exogenously given, there is no tradeoff between allocator payoff and the payoffs of responder and dummy. Rather, the allocator chooses the size of the pie and...

Nearly 25 years after the German reunification, vastly different living conditions between East and West Germany still remain. This is particularly true for the distribution of net wealth which is of special importance for the well-being of individuals. Wealth provides utility in a number of...

We study product market competition between firm owners (principals) where workers (agents) decide on their efforts and, hence, on output levels. Two worker compensation schemes are compared: a piece rate compensation as a benchmark when workers' output performance is verifiable, and a...

We present a class of dynamic general-equilibrium models of education, innovation and technology transfer to explain the evolution of industries and aggregate growth in closed and open economies. Firms employ educated workers in order to develop higher-quality products. The realization of...

We study interfirm competition on a product market where effort decisions are delegated to the firms' workers. Intrafirm organization is captured by a principal-multiagent framework where firm owners implement alternative compensation schemes for the workers. We show that the value of delegation...

We present a model of price leadership on homogeneous product markets where the price leader is selected endogenously. The price leader sets and guarantees a sales price to which followers adjust according to their individual supply functions. The price leader clears the market by serving the...

Based on the acquiring-a-company game of Samuelson and Bazerman (1985), we theoretically and experimentally analyze the acquisition of a firm. Thereby we compare cases of symmetrically and asymmetrically informed buyers and sellers. This setting allows us to predict and test the effects of...