Now showing items 1-20 of 203

  • ​Afriat's Theorem and Samuelson's 'Eternal Darkness' 

    Polisson, Matthew; Renou, Ludovic (2016-08) - Journal article
    Suppose that we have access to a finite set of expenditure data drawn from an individual consumer, i.e., how much of each good has been purchased and at what prices. Afriat (1967) was the first to establish necessary and ...
  • Age, life-satisfaction and relative income : insights from the UK and Germany 

    FitzRoy, Felix R; Nolan, Michael; Steinhardt, Max F. (University of St Andrews, 2011-10) - Working or discussion paper
    We first confirm previous results with the German Socio-Economic Panel by Layard et al. (2010), and obtain strong negative effects of comparison income. However, when we split the sample by age, we find quite different ...
  • Aid and growth in Malawi 

    Khomba, Daniel Chris; Trew, Alex (University of St Andrews, 2019-02-01) - Working or discussion paper
    We study the local impact of foreign aid to constituencies and districts in Malawi over the period 1999--2013 using a highly detailed new aid database that includes annual disbursements at each project location. First, we ...
  • Altruism and global environmental taxes 

    Daube, Marc (2018-09-20) - Journal article
    A global externality like the GHG emissions leading to climate change are both due to free-riding at the individual level as well as the government level. A government aiming to maximise domestic social welfare may make ...
  • Anticipation, learning and welfare : the case of distortionary taxation 

    Gasteiger, Emanuel; Zhang, Shoujian (University of St Andrews, 2013-08-26) - Working or discussion paper
    We study the impact of anticipated fiscal policy changes in a Ramsey economy where agents form long-horizon expectations using adaptive learning. We ex- tend the existing framework by introducing distortionary taxes as ...
  • Antitrust penalties and the implications of empirical evidence on cartel overcharges 

    Katsoulacos, Yannis; Ulph, David Tregear (2013-11) - Journal article
    In this paper we provide a number of extensions to the theory of antitrust fines and we use these, with existing and new datasets, to contribute to a better understanding of the current fining policies of Competition ...
  • Asymmetric dominance, deferral and status quo bias in a behavioral model of choice 

    Gerasimou, Georgios (2016-02) - Journal article
    This paper proposes and axiomatically characterizes a model of choice that builds on the criterion of partial dominance and allows for two types of avoidant behavior: *choice deferral* and *status quo bias*. These phenomena ...
  • Banking and industrialization 

    Heblich, Stephan; Trew, Alex William (University of St Andrews, 2017-12-01) - Working or discussion paper
    We exploit employment data from 10,528 parishes across nineteenth century England and Wales and find that a one standard deviation increase in finance employment increases the annualized growth rate of secondary labour by ...
  • A basic income can raise employment and welfare for a majority 

    FitzRoy, Felix R; Jin, Jim Yongtao (University of St Andrews, 2015-06) - Working or discussion paper
    With growing interest in a universal basic income (BI), we provide new results for a majority to benefit from replacing (some) unemployment benefits with BI. Given any income distribution and an extensive margin, such a ...
  • A behavioural model of choice in the presence of decision conflict 

    Gerasimou, Georgios (University of St Andrews, 2013-05) - Working or discussion paper
    This paper proposes a model of choice that does not assume completeness of the decision maker’s preferences. The model explains in a natural way, and within a unified framework choice when preference-incomparable options ...
  • Beliefs and actions in the trust game : creating instrumental variables to estimate the causal effect 

    Costa-Gomes, Miguel; Huck, Steffan; Weizsaecker, Georg (2014-11) - Journal article
    In many economic contexts, an elusive variable of interest is the agent's belief about relevant events, e.g. about other agents' behavior. A growing number of surveys and experiments ask participants to state beliefs ...
  • Beliefs and actions in the trust game : Creating instrumental variables to estimate the causal effect 

    Costa-Gomes, Miguel; Huck, Steffen; Weizsacker, Georg (Wissenschaftszentrum Berlin für Sozialforschung gGmbH, 2012-08-01) - Working or discussion paper
    In many economic contexts, an elusive variable of interest is the agent’s belief about relevant events, e.g. about other agents’ behavior. A growing number of surveys and experiments ask participants to state beliefs ...
  • BitView : using blockchain technology to validate and diffuse global usage data for academic publications 

    Camillo Lamanna; La Manna, Manfredi M A (Springer Nature, 2018-11-15) - Conference item
    We suggest that blockchain technology could be used to underpin a validated, reliable, and transparent usage metric for research outputs. Previous attempts to create online usage metrics have been unsuccessful largely ...
  • Boom goes the price : giant resource discoveries and real exchange rate appreciation 

    Harding, Torfinn; Stefanski, Radoslaw (Radek); Toews, Gerhard (University of St Andrews, 2016-05-21) - Working or discussion paper
    We estimate the effect of giant oil and gas discoveries on bilateral real exchange rates. The size and plausibly exogenous timing of such discoveries make them ideal for identifying the effects of an anticipated resource ...
  • Capital deaccumulation and the large persistent effects of financial crises 

    Knowles, Matthew Paul (2015-01-17) - Working or discussion paper
    In a panel of OECD and emerging economies, I find that banking crises are characterized by larger initial drops in investment than other large recessions and are followed by particularly persistent drops in output. ...
  • Capital regulation and systemic risk in the insurance sector 

    Gehrig, Thomas; Iannino, Maria Chiara (2018-06-19) - Journal article
    This paper analyses systemic risk in and the effect of capital regulation on the European insurance sector. In particular, the evolution of an exposure measure (SRISK) and a contribution measure (Delta CoVaR) are analyzed ...
  • A case of framing effects : the elicitation of time preferences 

    Manzini, Paola; Mariotti, Marco (University of St Andrews, 2014-07-21) - Working or discussion paper
    We compare three methods for the elicitation of time preferences in an experimental setting: the Becker-DeGroot-Marschak procedure (BDM); the second price auction; and the multiple price list format. The first two methods ...
  • A characterization of risk-neutral and ambiguity-averse behavior 

    Gerasimou, Georgios (University of St Andrews, 2015-12-09) - Working or discussion paper
    This paper studies a decision maker who chooses monetary bets/investment portfolios under pure uncertainty. Necessary and sufficient conditions on his preferences over these objects are provided for his choice behavior to ...
  • The Chinese Phillips curve – inflation dynamics in the presence of structural change 

    Egan, Paul Gerard; Leddin, Anthony J (2017-05-16) - Journal article
    This paper models inflation dynamics in China from 1987 to 2014 using a Phillips curve framework. The Phillips curve is generally estimated under the assumption of linearity and parameter constancy. The existence of ...