Similar Search Results

The Economics of Credence Goods : On the Role of Liability, Verifiability, Reputation and Competition

Dulleck, Uwe - 2009

inefficiencies, such as under- and overtreatment or market break-down. We study in a large experiment with 936 participants the … determinants for efficiency in credence goods markets. While theory predicts that either liability or verifiability yields … efficiency, we find that liability has a crucial, but verifiability only a minor effect. Allowing sellers to build up reputation …

Persistent link: https://www.econbiz.de/10012764487

League-Table Incentives and Price Bubbles in Experimental Asset Markets

Cheung, Stephen L. - 2011

We study experimental markets in which participants face incentives modeled upon those prevailing in markets for managed funds. Each participant's portfolio is periodically evaluated at market value and ranked in a league table according to short-term paper returns. Those who rank highly attract...

Persistent link: https://www.econbiz.de/10013124787

Asset Integration, Risk Taking and Loss Aversion in the Laboratory

Morrison, William G. - 2019

We report on a laboratory experiment testing for the presence of loss aversion, as separate from risk aversion …

Persistent link: https://www.econbiz.de/10012870215

Losers and Losers : Some Demographics of Medical Malpractice Tort Reforms

Friedson, Andrew - 2011

Our research examines individual differences in the effects of medical malpractice tort reforms on pre-trial settlement speed and settlement amounts by age and most likely settlement size. Findings of note include that, unlike previously assumed, both absolute and percentage losses from tort...

Persistent link: https://www.econbiz.de/10013120846

Producer Protection Legislation and Termination Damages in the Presence of Contracting Frictions

Wu, Steven Y. - 2009

This study models producer protection legislation that would grant growers the right to claim damages (PPLD) if their contracts are prematurely terminated. In the absence of contracting frictions that prevent contractors from redesigning contracts to accommodate exogenous policy changes, PPLD...

Persistent link: https://www.econbiz.de/10013156403

Compensation in Personal Injury Cases : Mean or Median Income?

Danziger, Leif - 2019

Courts typically base compensation for loss of income in personal injury cases on either mean or median work income. Yet, quantatively, mean and median incomes are typically very different. For example, in the US median income is 65 percent of mean income. In this paper we use economic theory to...

Persistent link: https://www.econbiz.de/10012865861

Badge of Honor or Scarlet Letter? Unpacking Investors' Judgment of Entrepreneurs' Past Failure

Zunino, Diego - 2017

our predictions using an online experiment where respondents are potential investors in seed stage ventures via equity …

Persistent link: https://www.econbiz.de/10012947124

Household Portfolio Choice, Reference Dependence, and the Marriage Market

Li, Wenchao - 2017

This paper bridges the financial market and the marriage market using a reference-dependent mechanism. Male-biased sex ratios induce families with sons to hold more risky assets, since competitive marital payment in a tight market raises the reference level of marriage expenditure for such...

Persistent link: https://www.econbiz.de/10012963843

Portfolio Allocation in the Face of a Means-Tested Public Pension

Cobb-Clark, Deborah A. - 2011

Is there evidence that households adjust their asset portfolios just prior to retirement in response to a means-tested public pension? We address this question by estimating a system of asset equations constrained to add up to net worth. We find little evidence that in 2006 healthy households or...

Persistent link: https://www.econbiz.de/10013134282

Trust and the Choice between Housing and Financial Assets : Evidence from Spanish Households

El-Attar, Mayssun - 2010

Trusting behavior has been shown to affect households' portfolio choice between risky and risk-free financial assets. We extend the analysis of the effect of trust on portfolio choice to include the dominant component of households' portfolios, real estate. In a simple model, we show how the...

Persistent link: https://www.econbiz.de/10013136779