We analyze mechanism choices of competing sellers with private valuations and show the existence of monotone pure strategy equilibria where sellers with higher reservation value choose mechanisms with a lower selling probability and a larger revenue in case of trade. As an application we...

This paper discusses random intercept selection within the context of semiparametric regression models with structured additive predictor (STAR). STAR models can deal simultaneously with nonlinear covariate effects and time trends, unit- or cluster-specific heterogeneity, spatial heterogeneity...

According to the expectations channel, a fiscal consolidation may give rise to less contractionary, or even expansionary effects on consumption, despite a decline in current disposable income. Intuitively, people may accumulate a stock of savings in anticipation of the consolidation and may...

Introduction: Out-of-pocket spending is an important source of healthcare financing even in countries with established prepaid financing of healthcare. However, out-of-pocket payments (OOPP) may have undesirable effects from an equity perspective. In this study, we analyse the distributive...

Credence goods markets suffer from inefficiencies caused by superior information of sellers about the surplus-maximizing quality. While standard theory predicts that equal mark-up prices solve the credence goods problem if customers can verify the quality received, experimental evidence...

We propose a learning dynamic with agents using samples of past play to estimate the distribution of other players' strategy choices and best responding to this estimate. To account for noisy play, estimated distributions over other players' strategy choices have full support in the other...

We present experimental evidence from a bilingual city in Northern Italy on whether the language spoken by a partner in a prisoner's dilemma game affects behavior and leads to discrimination. Running a framed field experiment with 828 six- to eleven-year old primary school children in the city...

The article proposes that basic social attitudes and associational networks of employees influence their interaction with coworkers and managers at the workplace and thereby also shape work attitudes and behavior. Two terms are introduced to analyze this hypothesis: Civic Social Capital...

Social trust is increasingly seen as an important determinant of economic growth and social prosperity in regions and nations. Even in a comparatively homogeneous area such as Europe, there are stark sub-national differences in levels of generalized trust. It is thus of crucial importance to...

In both academic literature and political discussions the concept of innovation is recognized as an essential ingredient in economic development and competitiveness for firms, regions, and nations. Innovation also ranks at the top of policy agendas in the field of regional policy. Therefore, the...