We study experimentally the protection of property in five widely distinct countries-Austria, Mexico, Mongolia, South Korea and the United States. Our main results are that the security of property varies with experimental institutions, and that our subject pools exhibit significantly different...

Using distance and time zone differences as a measure for coordination costs between service suppliers and consumers, we employ a Hausman-Taylor model for services trade by foreign affiliates. Given the need for proximity in the provision of services, factors like distance place a higher cost...

Since its implementation in 1990 the human development index (HDI), the flagship indicator of multidimensional development, has attracted a great deal of attention and critics in academic, political and media circles. It initiated a new stage in the discussion of appropriate indicators to...

We conduct a laboratory experiment with agents working on and principals benefitting from a real effort task in which the agents' performance can only be evaluated subjectively. Principals give subjective performance feedback to agents and agents have an opportunity to sanction principals. In...

Researchers are often interested in testing for measurement invariance with respect to an ordinal auxiliary variable such as age group, income class, or school grade. In a factor-analytic context, these tests are traditionally carried out via a likelihood ratio test statistic comparing a model...

We study credence goods markets where an expert not only cares for her own monetary payoff, but also for the monetary payoff of her customer. We show how an expert with heterogeneous distributional preferences responds to monetary incentives in the absence of institutions, under liability and/or...

We analyze the influence of the fiscal position on the transmission of government spending shocks in a New Keynesian model. We find that once we allow for positive levels of government debt in the steady state, the sign and the size of the fiscal multiplier depend strongly on the horizon at...

In this paper we analyze how the availability of credit influences the relationship between government size as a proxy for fiscal stabilization policy and the amplitude of business cycle fluctuations in a sample of advanced OECD countries. Interpreting relatively low loan-tovalue ratios as an...

We conduct a laboratory experiment with a constant-sum sender-receiver game to investigate the impact of individuals' first- and second-order beliefs on truth-telling. While senders are more likely to lie if they expect the receiver to trust their message (which is in line with expected payoff...

This paper develops an evolutionary bio-economic model for hunting, farming and tourism (non-consumptive and safari hunting) to study the determinants of the prosperity of conservancy programs. The model is inspired in the Conservancy program of Namibia, despite it is of more general...