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Mill, Wladislaw; Stäbler, Jonathan - 2023

This paper studies how litigation and settlement behavior is affected by agents motivated by spiteful preferences under the American and the English fee-shifting rule. We conduct an experiment and find that litigation expenditures and settlement requests are higher for more spiteful...

Persistent link: https://www.econbiz.de/10014260383

New Characteristics and Hedonic Price Index Numbers

Crawford, Ian - 2019

Changes in product characteristics on the extensive margin are an important and hitherto neglected dimension of quality change. Standard techniques for quality-adjusting price indices cannot handle such changes satisfactorily, which leads to an economically and statistically significant bias in...

Persistent link: https://www.econbiz.de/10012891565

Micro-Geographic Property Price and Rent Indices

Ahlfeldt, Gabriel M.; Heblich, Stephan; Seidel, Tobias - 2021

We develop a programming algorithm that predicts a balanced-panel mix-adjusted house price index for arbitrary spatial units from repeated cross-sections of geocoded micro data. The algorithm combines parametric and non-parametric estimation techniques to provide a tight local fit where the...

Persistent link: https://www.econbiz.de/10013219061

The Economics of Platform Liability

Lefouili, Yassine; Madio, Leonardo - 2021

online platforms. In this paper, we provide an economic appraisal of platform liability that highlights the effects of a … stricter liability rule on several key variables such as prices, terms and conditions, business models, and investments. We … also discuss the impact of the liability regime applying to online platforms on competition between them and the incentives …

Persistent link: https://www.econbiz.de/10013243238

Compensation in Personal Injury Cases : Mean or Median Income?

Danziger, Leif - 2019

percent of mean income. In this paper we use economic theory to determine the relation between the appropriate make …

Persistent link: https://www.econbiz.de/10012866040

Platform Liability and Innovation

Jeon, Doh-Shin; Lefouili, Yassine; Madio, Leonardo - 2022

the presence of such products on innovation and consumer welfare. For a given number of buyers, platform liability … interests between innovators and buyers. Furthermore, platform liability can have unintended consequences, which overturn the … intended effect on innovation. Platform liability tends to increase (decrease) innovation and consumer welfare when the …

Persistent link: https://www.econbiz.de/10014244021

Do Judges Hate Speculators?

Hornuf, Lars - 2019

Historically, people have often expressed negative feelings toward speculators, a sentiment that might have even been reinforced since the latest financial crisis, during which taxpayer money was warranted or spent to bail out reckless investors. In this paper, we conjecture that judges may also...

Persistent link: https://www.econbiz.de/10012892211

A General Equilibrium Theory of Occupational Choice Under Optimistic Beliefs About Entrepreneurial Ability

Dell'Era, Michele - 2019

This paper studies the impact of optimism on occupational choice using a general equilibrium framework. The model shows that optimism has four main qualitative effects: it leads to a misallocation of talent, drives up input prices, raises the number of entrepreneurs, and makes entrepreneurs...

Persistent link: https://www.econbiz.de/10012892272

Quantifying the Macroeconomic Impact of COVID-19-Related School Closures Through the Human Capital Channel

De la Maisonneuve, Christine; Égert, Balázs; Turner, David - 2023

This paper uses a new measure of human capital, which distinguishes both quality and quantity components, to estimate the long-term effect of the Covid-19-related school closures on aggregate productivity through the human capital channel. Productivity losses build up over time and are estimated...

Persistent link: https://www.econbiz.de/10014356978

Climate Changes Affect Human Capital

Caruso, Germán; De Marcos, Inés; Noy, Ilan - 2023

Climate change severely impacts critical facets of human capital across the life cycle. This is particularly alarming as both the frequency and intensity of extreme weather shocks continue to increase, and extremes appear to be the main channel of causality. At the same time, human capital has a...

Persistent link: https://www.econbiz.de/10014357808