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Children who can count on support from altruistic parents may not try hard to succeed in the labor market. Moreover, parental altruism makes withdrawal of such support non-credible. To promote work effort, parents may want to instill norms which later cause their children to experience guilt or...
Persistent link: https://www.econbiz.de/10010334735
Is discounting of future instantaneous utilities consistent with altruism towards future selves? More precisely, can temporal preferences, expressed as a sum of discounted instantaneous utilities, be derived from a representation in the form of a sum of discounted total utilities? We find that a...
Persistent link: https://www.econbiz.de/10010334901
We investigate whether temporal preferences expressed as a sum of discounted consumption utilities can be derived from a welfare representation in the form of a sum of discounted total utilities. We find that a consumption-based representation in the usual exponential form corresponds to...
Persistent link: https://www.econbiz.de/10010335002
The paper analyses the interaction between economic incentives and work norms in the context of social insurance. If the work norm is endogenous in the sense that it is weaker when the population share of beneficiaries is higher, then voters will choose less generous benefits than otherwise. We...
Persistent link: https://www.econbiz.de/10010320134
Persistent link: https://www.econbiz.de/10010334668
Bergin and Lipman (1996) show that the refinement effect from the random mutations in the adaptive dynamics in Kandori, Mailath and Rob (1993) and Young (1993) is due to restrictions on how these mutation rates vary across population states. We here model these mutation rates as endogenously...
Persistent link: https://www.econbiz.de/10010334690
Evolutionary theorizing has a long tradition in economics. Only recently has this approach been brought into the framework of non-cooperative game theory. Evolutionary game theory studies the robustness of strategic behaviour with respect to evolutionary forces in the context of games played...
Persistent link: https://www.econbiz.de/10010334821
Persistent link: https://www.econbiz.de/10010334998
Evolutionary game theory studies the robustness of strategy profiles and sets of strategy profiles with respect to evolutionary forces in games played repeatedly in large populations of boundedly rational agents. The approach is macro oriented in the sense of focusing on the strategy...
Persistent link: https://www.econbiz.de/10010335048