Showing 1 - 10 of 122
In this paper a tournament between teams (a collective tournament) is analyzed, where each contestant may spend productive effort in order to increase his team's performance or sabotage the members of the opponent team. It is shown that sabotaging the weaker members of a team always decreases...
Persistent link: https://www.econbiz.de/10005785894
Persistent link: https://www.econbiz.de/10008543476
€™ portfolio considerations, this paper develops and estimates a structural model that allows for flexible complementarities …/substitutabilities, using Japanese household-level data on automobile purchases. My estimates suggest that complementarities arise when …
Persistent link: https://www.econbiz.de/10011276117
This paper offers a comprehensive econometric investigation of the impact of income inequality on the values endorsed by people. Using survey data from all thirty-four OECD countries over a period of almost thirty years, the following dimensions of value systems are investigated: work ethic,...
Persistent link: https://www.econbiz.de/10010556725
This paper challanges the view that weak work norms in generous welfare states makes them economically unsustainable. I develop a dynamic model of family-transmitted values that has a laissez-faire equilibrium with strong work norms coexisting with a social-insurance equilibrium with weak work...
Persistent link: https://www.econbiz.de/10010685252
Lecture on the first SFB/TR 15 meeting, Gummersbach, July, 18 - 20, 2004We report on several experiments on the optimal allocation of ownership rights. The experiments confirm the property rights approach by showing that the ownership structure affects relationship-specific investments and that...
Persistent link: https://www.econbiz.de/10005739653
We consider a model of a single defendant and N plaintiffs where the total cost of litigation is fixed on the part of the plaintiffs and shared among the members of a suing coalition. By settling and dropping out of the coalition, a plaintiff therefore creates a negative externality on the other...
Persistent link: https://www.econbiz.de/10005739656
Engelmann and Strobel (AER 2004) claim that a combination of efficiency seeking and minmax preferences dominates inequity aversion in simple dictator games. This result relies on a strong subject pool effect. The participants of their experiments were undergraduate students of economics and...
Persistent link: https://www.econbiz.de/10005739661
This paper analyzes the efficiency of team production when agents exhibit other regarding preferences. It is shown that full efficiency can be sustained as an equilibrium through a budget-balancing mechanism that punishes some randomly chosen agents if output falls short of efficient level but...
Persistent link: https://www.econbiz.de/10005739677
In this paper we report on a principal-agent experiment where the principal can choose whether to rely on an unenforcable bonus contract or to combine the bonus contract with a fine if the agent’s effort falls below a minimum standard. We show that most principals do not use the fine and...
Persistent link: https://www.econbiz.de/10005739688