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Voluntary Contributions to Reduce Expected Public Losses

We examine voluntary private contributions to reduce the probability of a public loss in the experimental economics laboratory. In several treatments, we examine how loss probability, initial wealth and ambiguity affect the contribution level. We observe that, in contrast to the risk-neutral Nash equilibrium, participants do make positive contributions although the contribution level is lower than ...

Measuring Ethnic Identity and Its Impact on Economic Behavior

This article advocates for a new measure of the ethnic identity of migrants, models its determinants, and explores its explanatory power for economic performance. The ethnosizer, a measure of the intensity of a person's ethnic identity, is constructed from information on the following elements: language, media, ethnic self-identification, ethnic networks, and residency plans. The two-dimensional concept ...

Patientenverfügungen in Deutschland: Bedingungen für ihre Verbreitung und Gründe der Ablehnung

Hintergrund: Bislang ist die Verbreitung von Patientenverfügungen in der prä-klinischen Bevölkerung (das heißt, bevor es zu einer Krankenhausaufnahme kommt) noch kaum bekannt, da sich Studien hierzu zumeist auf Patienten- bzw. Arztbefragungen beziehen. Somit ist unklar, welche prä-klinischen Bedingungen die Verbreitung von Patientenverfügungen begünstigen. Von Interesse sind insbesondere persönliche ...

Using the Gravity Equation to Differentiate among Alternative Theories of Trade: Another Look

This study compares two alternative approaches - the traditional ordinary least square (OLS) and the Poisson Quasi Maximum Likelihood (PQML) procedures - to estimation of the home market effects for the heterogeneous, the reference priced and the homogeneous goods in the gravity model derived in Feenstra et al. (2001). Despite our findings that the PQML estimation results oftentimes (significantly) ...

Impact Assessment of Emissions Stabilization Scenarios with and without Induced Technological Change

The main aim of this paper is to investigate quantitatively the economic impacts of emissions stabilization scenarios with and without the inclusion of induced technological change (ITC). Improved technological innovations are triggered by increased research and development (R&D) expenditures that advance energy efficiencies. Model results show that ITCs due to increased investment in R&D reduce compliance ...

Consumption and Social Life in Cities: Evidence from Germany

This paper examines social agglomeration externalities. Using survey data from the German Socioeconomic Panel, it examines the link between city size and different measures of consumption, social interaction and social capital. There is strong evidence of agglomeration effects in consumption, while positive effects of city size on social interaction and social capital variables seem to some extent ...

On Estimating an Asset's Implicit Beta

A.F. Siegel (1995) has developed a technique with which the systematic risk of a security (beta) can be estimated without recourse to historical capital market data. Instead, beta is estimated implicity from the current market prices of exchange options that enable the exchange of a security against shares on the market index. Because this type of exchange options is not currently traded on the capital ...

Theories of Behavior in Principal-Agent Relationship with Hidden Action

In a laboratory experiment, we investigate behavior in a principal-agent situation with moral hazard. We evaluate the predictive success of two theories. One is the standard agency theory, which assumes that the agent will accept any contract offer that satisfies his participation constraint, typically requiring zero expected utility. The other is the "fair-offer" theory suggested by Keser and Willinger ...

Liability for Climate Change: The Benefits, the Costs, and the Transaction Costs

Desired Lifetime and End-of-Life Desires across Adulthood from 20 to 90: A Dual-Source Information Model

How long do people want to live, and how does scientific research on aging affect such desires? A dual-source information model proposes that aging expectations and desires are informed differently by two sources: personal experiences on the one hand, and scientific and societal influences on the other. Two studies with independent German national samples explored desires regarding length of life and ...