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Shrouded Attributes, Consumer Myopia, and Information Suppression in Competitive Markets

Gabaix, Xavier; Laibson, David - National Bureau of Economic Research (NBER) - 2005

Bayesian consumers infer that hidden add-on prices (e.g. the cost of ink for a printer) are likely to be high prices. If consumers are Bayesian, firms will not shroud information in equilibrium. However, shrouding may occur in an economy with some myopic (or unaware) consumers. Such shrouding...

Persistent link: https://www.econbiz.de/10005774466

The Economic Theory of Illegal Goods: The Case of Drugs

Murphy, Kevin M.; Grossman, Michael; Becker, Gary S. - National Bureau of Economic Research (NBER) - 2004

This paper concentrates on both the positive and normative effects of punishments that enforce laws to make production and consumption of particular goods illegal, with illegal drugs as the main example. Optimal public expenditures on apprehension and conviction of illegal suppliers obviously...

Persistent link: https://www.econbiz.de/10005714196

Well-Being, Social Capital and Public Policy: What's New?

Helliwell, John F. - National Bureau of Economic Research (NBER) - 2005

This paper summarizes recent empirical research on the determinants of subjective well-being. Results from national and international samples suggest that measures of social capital, including especially the corollary measures of specific and general trust, have substantial effects on well-being...

Persistent link: https://www.econbiz.de/10005710625

How's the Job? Well-Being and Social Capital in the Workplace

Helliwell, John F.; Huang, Haifang - National Bureau of Economic Research (NBER) - 2005

This paper takes a different tack in addressing one of the fundamental questions in economics: what are the factors that determine the distribution of jobs and wages? In Adam Smith%u2019s classic formulation, and in much of the subsequent literature, wage levels have been used to estimate the...

Persistent link: https://www.econbiz.de/10005050086

Under-Savers Anonymous: Evidence on Self-Help Groups and Peer Pressure as a Savings Commitment Device

Meier, Stephan; Kast, Felipe; Pomeranz, Dina - National Bureau of Economic Research (NBER) - 2012

We test the effectiveness of self-help peer groups as a commitment device for precautionary savings, through two randomized field experiments among 2,687 microentrepreneurs in Chile. The first experiment finds that self-help peer groups are a powerful tool to increase savings (the number of...

Persistent link: https://www.econbiz.de/10010821682

Unhappy Cities

Glaeser, Edward Ludwig; Gottlieb, Joshua D.; Ziv, Oren - National Bureau of Economic Research (NBER) - 2014

longer term residents, and yet some people continue to move to these areas. While the historical data on happiness are … interpretation of these facts is that individuals do not aim to maximize self-reported well-being, or happiness, as measured in … surveys, and they willingly endure less happiness in exchange for higher incomes or lower housing costs. In this view …

Persistent link: https://www.econbiz.de/10010822019

Conflict, Evolution, Hegemony, and the Power of the State

Levine, David; Modica, Salvatore - National Bureau of Economic Research (NBER) - 2013

In a model of evolution driven by conflict between societies more powerful states have an advantage. When the influence of outsiders is small we show that this results in a tendency to hegemony. In a simple example in which institutions differ in their "exclusiveness" we find that these...

Persistent link: https://www.econbiz.de/10010950707

Liability for Accidents

Shavell, Steven - National Bureau of Economic Research (NBER) - 2005

This is a survey of legal liability for accidents. Three general aspects of accident liability are addressed. The first is the effect of liability on incentives, both whether to engage in activities (for instance, whether to drive) and how much care to exercise (at what speed to travel) to...

Persistent link: https://www.econbiz.de/10005575598

Economic Analysis of Welfare Economics, Morality and the Law

Shavell, Steven - National Bureau of Economic Research (NBER) - 2003

This paper contains the chapters on welfare economics, morality, and the law from a general, forthcoming book, Foundations of Economic Analysis of Law (Harvard University Press, 2003). I begin in chapter 26 with a discussion of the normative foundations of economic analysis, namely, the subject...

Persistent link: https://www.econbiz.de/10005580165

Crime and Social Interactions

Glaeser, Edward Ludwig; Scheinkman, Jose; Sacerdote, Bruce - National Bureau of Economic Research (NBER) - 1995

The high degree of variance of crime rates across space (and across time) is one of the oldest puzzles in the social sciences (see Quetelet (1835)). Our empirical work strongly suggests that this variance is not the result of observed or unobserved geographic attributes. This paper presents a...

Persistent link: https://www.econbiz.de/10005580509