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Refereed essays Web of Science
This paper studies the effects of a minimum price fixed by a bureaucratic non-monopolistic professional association on service quality and consumer surplus. It shows that the price set by a Niskanen-type professional association will maximize consumer surplus only if consumers demand the highest possible average quality. If consumers demand services of lesser quality, the association's price will be ...
In:
European Journal of Law and Economics
30 (2010), 2, S. 171-199
| Georg Meran, Reimund Schwarze
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Refereed essays Web of Science
We investigate the analytical and empirical linkages between cash flow, uncertainty, and firms' capital investment behavior. Our empirical approach constructs measures of own- and market-specific uncertainty from firms' daily stock returns and S&P 500 index returns along with a CAPM-based risk measure. Our results indicate that even in the presence of important firm-specific variables, uncertainty ...
In:
Oxford Economic Papers
62 (2010), 2, S. 286-306
| Christopher F. Baum, Mustafa Caglayan, Oleksandr Talavera
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Refereed essays Web of Science
This paper analyses whether aid channelled through non-governmental organisations (NGOs) is less affected by selfish donor motivations and better targeted to needy recipient countries than aid distributed by state agencies. We employ Tobit (and Probit) models and make use of an exceptionally detailed database that allows an assessment of the allocation of Swedish aid channelled through NGOs in comparison ...
In:
The World Economy
33 (2010), 2, S. 147-176
| Axel Dreher, Florian Mölders, Peter Nunnenkamp
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Refereed essays Web of Science
This paper examines the effects of firm-level innovation in carbon-abatement technologies on optimal cap-and-trade schemes with and without price controls. We characterize optimal cap-and-trade regulation with a price cap and a price floor, and compare it to the special cases of pure taxation and a simple emissions cap. Innovation shifts the tradeoff between price- and quantity-based instruments towards ...
In:
Journal of Environmental Economics and Management
60 (2010), 2, S. 115-132
| Thomas A. Weber, Karsten Neuhoff
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Refereed essays Web of Science
Throughout adulthood and old age, levels of well-being appear to remain relatively stable. However, evidence is emerging that late in life well-being declines considerably. Using long-term longitudinal data of deceased participants in national samples from Germany, the United Kingdom, and the United States, we examined how long this period lasts. In all 3 nations and across the adult age range, well-being ...
In:
Psychology and Aging
25 (2010), 2, S. 477-485
| Denis Gerstorf, Nilam Ram, Guy Mayraz, Mira Hidajat, Ulman Lindenberger, Gert G. Wagner, Jürgen Schupp
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Refereed essays Web of Science
This paper examines whether schooling has a causal impact on individuals' political behavior. Between 1949 and 1969, the number of compulsory years of schooling in the Federal Republic of Germany was gradually increased across all federal states. These legislative changes provide an opportunity to investigate the causal impact of schooling on political behavior. Years of schooling are found to be positively ...
In:
The Scandinavian Journal of Economics
112 (2010), 2, S. 315-338
| Thomas Siedler
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Refereed essays Web of Science
This article examines the implications of moving to Computer-Assisted Personal Interviewing (CAPI) for data quality by analyzing the transition from Paper-and-Pencil (PAPI) to Computer-Assisted Personal Interviewing (CAPI) on a subsample of the German Socio-Economic Panel (SOEP) conducted using an "experimental design" in Wave 1. The 2,000 addresses for the sample E of SOEP were split into two subsamples ...
In:
Journal of Official Statistics
26 (2010), 2, S. 239-269
| Jörg-Peter Schräpler, Jürgen Schupp, Gert G. Wagner
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Refereed essays Web of Science
We empirically demonstrate a practical approach of efficiency evaluation with limited data availability in some regulated industries. We apply PCA-DEA for radial efficiency measurement to U.S. natural gas transmission companies in 2007. PCA-DEA reduces dimensions of the optimization problem while maintaining most of the variation in the original data. Our results suggest that the methodology reduces ...
In:
Review of Network Economics
9 (2010), 2, Article 4
| Maria Nieswand, Astrid Cullmann, Anne Neumann
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Refereed essays Web of Science
Electricity transmission pricing and transmission grid expansion have received increasing attention in recent years. There are two disparate approaches to transmission investment: one employs the theory based on long-run financial rights (LTFTR) to transmission (merchant approach), while the other is based on the incentive-regulation hypothesis (regulatory approach). In this paper we consider the elements ...
In:
Journal of Regulatory Economics
38 (2010), 2, S. 113-143
| William Hogan, Juan Rosellón, Ingo Vogelsang
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Refereed essays Web of Science
This paper defines the global economic costs of conflict and suggests two key criteria, namely comprehensiveness and consistency, which are necessary for a valid calculation of such costs. A critical review of the literature reveals that most studies focus on national income losses, using counterfactual regression models, finding a negative impact on growth both for conflict countries themselves and ...
In:
Defence & Peace Economics
21 (2010), 2, S. 165-176
| Carlos Bozzoli, Tilman Brück, Simon Sottsas