TY - JOUR
AB - We propose an indicator for detecting anomalous stock market valuation in real time such that market participants receive timely signals so as to be able to take stabilizing action. Unlike existing approaches, our anomaly indicator introduces three methodological novelties. First, we use an endogenous, purely data-driven, nonparametric trend identification method to separate long-term market movements from more short-term ones. Second, we apply SETAR models that allow for asymmetric expansions and contractions around the long-term trend and find systematic stock price cycles. Third, we implement these findings in our indicator and conduct real-time market forecasts, which have so far been neglected in the literature. Applications of our indicator using monthly S&P 500 stock data from 1970 to the end of 2022 show that short-term anomalous market movements can be identified in real time up to one year ahead. We predict all major anomalies, including the 1987 Bubble and the initial phase of the Financial Crisis that began in 2007. In total, our anomaly indicator identifies more than 80% of all – even minor – anomalous episodes. Thus, smoothing market exaggerations through early signaling seems possible.
AU - Fritz, Marlon
AU - Gries, Thomas
AU - Wiechers, Lukas
ID - 50719
JF - Quantitative Finance
KW - General Economics
KW - Econometrics and Finance
KW - Finance
SN - 1469-7688
TI - An early indicator for anomalous stock market performance
ER -
TY - JOUR
AB - Individual cognitive functioning declines over time. We seek to understand how adverse physical health shocks in older ages contribute to this development. By use of event-study methods and data from the USA, England, and several countries in Continental Europe, we find evidence that health shocks lead to an immediate and persistent decline in cognitive functioning. This robust finding holds in all regions representing different health insurance systems and seems to be independent of underlying individual demographic characteristics such as sex and age. We also ask whether variables that are susceptible to policy action can reduce the negative consequences of a health shock. Our results suggest that neither compulsory education nor retirement regulations moderate the effects, thus emphasizing the importance for cognitive functioning of maintaining good physical health in old age.
AU - Schiele, Valentin
AU - Schmitz, Hendrik
ID - 35637
JF - European Economic Review
TI - Understanding cognitive decline in older ages: The role of health shocks
VL - 151
ER -
TY - JOUR
AB - We propose a new method to estimate and isolate the localization of knowledge spillovers due to the physical presence of a person, using after-application but pre-grant deaths of differently located coinventors of the same patent. The approach estimates the differences in local citations between the deceased and still-living inventors at increasingly distant radii. Patents receive 26 percent fewer citations from within a radius of 20 miles around the deceased, relative to still-living coinventors. Differences attenuate with time and distance, are stronger when still-living coinventors live farther from the deceased, and hold for a subsample of possibly premature deaths. (JEL O31, O33, O34, R32)
AU - Balsmeier, Benjamin
AU - Fleming, Lee
AU - Lück, Sonja
ID - 42638
IS - 1
JF - American Economic Review: Insights
KW - Management
KW - Monitoring
KW - Policy and Law
KW - Geography
KW - Planning and Development
SN - 2640-205X
TI - Isolating Personal Knowledge Spillovers: Coinventor Deaths and Spatial Citation Differentials
VL - 5
ER -
TY - JOUR
AB - We study how competition between physicians affects the provision of medical care. In
our theoretical model, physicians are faced with a heterogeneous patient population, in which patients
systematically vary with regard to both their responsiveness to the provided quality of care and their
state of health. We test the behavioral predictions derived from this model in a controlled laboratory
experiment. In line with the model, we observe that competition significantly improves patient benefits
as long as patients are able to respond to the quality provided. For those patients, who are not able
to choose a physician, competition even decreases the patient benefit compared to a situation without
competition. This decrease is in contrast to our theoretical prediction implying no change in benefits for
passive patients. Deviations from patient-optimal treatment are highest for passive patients in need of
a low quantity of medical services. With repetition, both, the positive effects of competition for active
patients as well as the negative effects of competition for passive patients become more pronounced. Our
results imply that competition can not only improve but also worsen patient outcome and that patients’
responsiveness to quality is decisive.
AU - Brosig-Koch, Jeannette
AU - Hehenkamp, Burkhard
AU - Kokot, Johanna
ID - 44092
JF - Health Economics
KW - physician competition
KW - patient characteristics
KW - heterogeneity in quality responses
KW - fee-for-service
KW - laboratory experiment
TI - Who benefits from quality competition in health care? A theory and a laboratory experiment on the relevance of patient characteristics
ER -
TY - GEN
AB - We consider a model where for-profit providers compete in quality in a price-regulated market that has been opened to competition, and where the incumbent is located at the center of the market, facing high costs of relocation. The model is relevant in markets such as public health care, education and schooling, or postal services. We find that, when the regulated price is low or intermediate, the entrant strategically locates towards the corner of the market to keep the incumbent at the low monopoly quality level. For a high price, the entrant locates at the corner of the market and both providers implement higher quality compared to a monopoly. In any case, the entrant implements higher quality than the incumbent provider. Social welfare is always higher in a duopoly if the cost of quality is low. For higher cost levels welfare is non-monotonic in the price and it can be optimal to the regulator not to use its entire budget. Therefore, the welfare effect of entry depends on the price and the size of the entry cost, and the regulator should condition the decision to allow entry on an assessment of the entry cost.
AU - Hehenkamp, Burkhard
AU - Kaarbøe, Oddvar M.
ID - 44093
KW - Quality competition
KW - Price regulation
KW - Location choice
KW - Product differentiation
TI - Price Regulation, Quality Competition and Location Choice with Costly Relocation
ER -
TY - GEN
AB - We study the effect of education on health (hospital stays, number of diagnosed conditions, self-rated poor health, and obesity) over the life-cycle in Germany, using compulsory schooling reforms as a source of exogenous variation. Our results suggest a positive correlation of health and education which increases over the life-cycle. We do not, however, find any positive local average treatment effects of an additional year of schooling on health or health care utilization for individuals up to age 79. An exception is obesity, where positive effects of schooling start to be visible around age 60 and become very large in age group 75-79. The results in age group 75-79 need to be interpreted with caution, however, due to small sample size and possible problems of attrition.
AU - Schmitz, Hendrik
AU - Tawiah, Beatrice Baaba
ID - 46534
KW - Education
KW - health
KW - life-cycle effects
KW - compulsory schooling
TI - Life-cycle health effects of compulsory schooling
VL - 1006
ER -
TY - GEN
AU - Freise, Diana
AU - Schiele, Valentin
AU - Schmitz, Hendrik
ID - 46521
KW - General Earth and Planetary Sciences
KW - General Environmental Science
SN - 1556-5068
TI - Housing Situations and Local COVID-19 Infection Dynamics – A Case Study With Small-Area Data
ER -
TY - GEN
AB - We study the effect of education on vaccination against COVID-19 and influenza in Germany and Europe. Our identification strategy makes use of changes in compulsory schooling laws and allows to estimate local average treatment effects for individuals between 59 and 91 years of age. We find no significant effect of an additional year of schooling on vaccination status in Germany. Pooling data from Europe, we conclude that schooling increases the likelihood to vaccinate against COVID by an economically negligible effect of one percentage point (zero for influenza). However, we find indications that additional schooling increases fear of side effects from COVID vaccination.
AU - Monsees, Daniel
AU - Schmitz, Hendrik
ID - 46536
KW - COVID
KW - influenza
KW - vaccination
KW - education
KW - compulsory schooling
TI - The effect of compulsory schooling on vaccination against COVID and Influenza
VL - 1011
ER -
TY - JOUR
AB - Qualitative comparative analysis (QCA) enables researchers in international management to better understand how the impact of a single explanatory factor depends on the context of other factors. But the analytical toolbox of QCA does not include a parameter for the explanatory power of a single explanatory factor or “condition”. In this paper, we therefore reinterpret the Banzhaf power index, originally developed in cooperative game theory, to establish a goodness-of-fit parameter in QCA. The relative Banzhaf index we suggest measures the explanatory power of one condition averaged across all sufficient combinations of conditions. The paper argues that the index is especially informative in three situations that are all salient in international management and call for a context-sensitive analysis of single conditions, namely substantial limited diversity in the data, the emergence of strong INUS conditions in the analysis, and theorizing with contingency factors. The paper derives the properties of the relative Banzhaf index in QCA, demonstrates how the index can be computed easily from a rudimentary truth table, and explores its insights by revisiting selected papers in international management that apply fuzzy-set QCA. It finally suggests a three-step procedure for utilizing the relative Banzhaf index when the causal structure involves both contingency effects and configurational causation.
AU - Haake, Claus-Jochen
AU - Schneider, Martin
ID - 34114
JF - Journal of International Management
KW - Qualitative comparative analysis
KW - Banzhaf power index
KW - causality
KW - explanatory power
TI - Playing games with QCA: Measuring the explanatory power of single conditions with the Banzhaf index
ER -
TY - JOUR
AU - Hoyer, Britta
AU - van Straaten, Dirk
ID - 30341
JF - Journal of Behavioral and Experimental Economics
KW - General Social Sciences
KW - Economics and Econometrics
KW - Applied Psychology
SN - 2214-8043
TI - Anonymity and Self-Expression in Online Rating Systems - An Experimental Analysis
VL - 98
ER -
TY - GEN
AB - We study the consequences of modeling asymmetric bargaining power in two-person bargaining problems. Comparing application of an asymmetric version of a bargaining solution to an upfront modification of the disagreement point, the resulting distortion crucially depends on the bargaining solution concept. While for the Kalai-Smorodinsky solution weaker players benefit from modifying the disagreement point, the situation is reversed for the Nash bargaining solution. There, weaker players are better off in the asymmetric bargaining solution. When comparing application of the asymmetric versions of the Nash and the Kalai-Smorodinsky solutions, we demonstrate that there is an upper bound for the weight of a player, so that she is better off with the Nash bargaining solution. This threshold is ultimately determined by the relative utilitarian bargaining solution. From a mechanism design perspective, our results provide valuable information for a social planner, when implementing a bargaining solution for unequally powerful players.
AU - Haake, Claus-Jochen
AU - Streck, Thomas
ID - 32106
KW - Asymmetric bargaining power
KW - Nash bargaining solution
KW - Kalai-Smorodinsky bargaining solution
TI - Distortion through modeling asymmetric bargaining power
VL - 148
ER -
TY - JOUR
AU - Hoyer, Britta
AU - De Jaegher, Kris
ID - 31881
JF - International Journal of Game Theory
TI - Network Disruption and the Common-Enemy Effect
ER -
TY - JOUR
AB - AbstractNon-pharmaceutical interventions are an effective strategy to prevent and control COVID-19 transmission in the community. However, the timing and stringency to which these measures have been implemented varied between countries and regions. The differences in stringency can only to a limited extent be explained by the number of infections and the prevailing vaccination strategies. Our study aims to shed more light on the lockdown strategies and to identify the determinants underlying the differences between countries on regional, economic, institutional, and political level. Based on daily panel data for 173 countries and the period from January 2020 to October 2021 we find significant regional differences in lockdown strategies. Further, more prosperous countries implemented milder restrictions but responded more quickly, while poorer countries introduced more stringent measures but had a longer response time. Finally, democratic regimes and stronger manifested institutions alleviated and slowed down the introduction of lockdown measures.
AU - Redlin, Margarete
ID - 33221
JF - Journal of Regulatory Economics
KW - Economics and Econometrics
SN - 0922-680X
TI - Differences in NPI strategies against COVID-19
ER -
TY - JOUR
AB - AbstractWe provide a partial equilibrium model wherein AI provides abilities combined with human skills to provide an aggregate intermediate service good. We use the model to find that the extent of automation through AI will be greater if (a) the economy is relatively abundant in sophisticated programs and machine abilities compared to human skills; (b) the economy hosts a relatively large number of AI-providing firms and experts; and (c) the task-specific productivity of AI services is relatively high compared to the task-specific productivity of general labor and labor skills. We also illustrate that the contribution of AI to aggregate productive labor service depends not only on the amount of AI services available but on the endogenous number of automated tasks, the relative productivity of standard and IT-related labor, and the substitutability of tasks. These determinants also affect the income distribution between the two kinds of labor. We derive several empirical implications and identify possible future extensions.
AU - Gries, Thomas
AU - Naudé, Wim
ID - 33220
IS - 1
JF - Journal for Labour Market Research
KW - General Medicine
SN - 2510-5019
TI - Modelling artificial intelligence in economics
VL - 56
ER -
TY - JOUR
AU - Gries, Thomas
AU - Müller, Veronika
AU - Jost, John T.
ID - 33219
IS - 2
JF - Psychological Inquiry
KW - General Psychology
SN - 1047-840X
TI - The Market for Belief Systems: A Formal Model of Ideological Choice
VL - 33
ER -
TY - GEN
AB - We study the effects of product differentiation on the bundling incentives of a two-product retailer. Two monopolistic manufacturers each produce a differentiated good. One sells it to both retailers, while the other only supplies a single retailer. Retailers compete in prices. Retail bundling is profitable when the goods are close substitutes. Only then is competition so intense that the retailer uses bundling to relax competition both within and across product markets, despite an aggravation of the double marginalization problem. Our asymmetric market structure arises endogenously for the case of close substitutes. In this case, bundling reduces social welfare.
AU - Endres-Fröhlich, Angelika Elfriede
AU - Hehenkamp, Burkhard
AU - Heinzel, Joachim
ID - 44091
KW - Retail bundling
KW - upstream market power
KW - double marginalization
KW - product differentiation
TI - The Impact of Product Differentiation on Retail Bundling in a Vertical Market
ER -
TY - GEN
AU - N., N.
ID - 42326
TI - Manipulation durch Fake-Bewertungen: Einfluss von Such- und Erfahrungsgütern auf das manipulative Verhalten des Verkäufers
ER -
TY - GEN
AU - N., N.
ID - 42322
TI - An Analysis of Coalition Formation Methods to achieve Maximum Social Surplus
ER -
TY - GEN
AU - N., N.
ID - 42324
TI - Die Möglichkeiten der Blockchain-Technologie im Supply Chain Management - eine spieltheoretische Analyse
ER -
TY - GEN
AU - N., N.
ID - 42318
TI - Kindergarten Allocation and the Tradeoff between Stability and Diversity Considerations
ER -
TY - GEN
AU - N., N.
ID - 42319
TI - Effect of the Agent's bargaining positions in the efficiency of matching markets
ER -
TY - GEN
AU - N., N.
ID - 42323
TI - Stabile Zuordnung mit Paaren - Der neue NRMP Algorithmus
ER -
TY - GEN
AU - N., N.
ID - 42320
TI - School choice with reserves and quotas
ER -
TY - GEN
AU - N., N.
ID - 42325
TI - Organisation von Zeitbörsen
ER -
TY - JOUR
AB - We analyse the two-dimensional Nash bargaining solution (NBS) by deploying
the standard labour market negotiations model of McDonald and Solow (1981).
We show that the two-dimensional bargaining problem can be decomposed into two
one-dimensional problems, such that the two solutions together replicate the solution
of the two-dimensional problem if the NBS is applied. The axiom of
Independence of Irrelevant Alternatives is shown to be crucial for this type
of decomposability. This result has significant implications for actual
negotiations because it allows for the decomposition of a multi-dimensional bargaining
problem into one-dimensional problems---and thus helps to facilitate real-world
negotiations.
AU - Haake, Claus-Jochen
AU - Upmann, Thorsten
AU - Duman, Papatya
ID - 30940
IS - 2
JF - Scandinavian Journal of Economics
KW - Labour market negotiations
KW - efficient bargains
KW - Nash bargaining solution
KW - sequential bargaining
KW - restricted bargaining games
TI - Wage Bargaining and Employment Revisited: Separability and Efficiency in Collective Bargaining
VL - 125
ER -
TY - JOUR
AB - We study the effect of unemployment on cognitive abilities among individuals aged between 50 and 65 in Europe. To this end, we exploit plant closures and use flexible event-study estimations together with an experimentally elicited measure of fluid intelligence, namely word recall. We find that, within a time period of around eight years after the event of unemployment, cognitive abilities only deteriorate marginally — the effects are insignificant both in statistical and economic terms. We do, however, find significant effects of late-career unemployment on the likelihood to leave the labor force, and short-term effects on mental health problems such as depression and sleep problems.
AU - Freise, Diana
AU - Schmitz, Hendrik
AU - Westphal, Matthias
ID - 33458
JF - Journal of Health Economics
TI - Late-Career Unemployment and Cognitive Abilities
VL - 86
ER -
TY - JOUR
AU - Westphal, Matthias
AU - Kamhöfer, Daniel A.
AU - Schmitz, Hendrik
ID - 30235
IS - 646
JF - Economic Journal
TI - Marginal College Wage Premium under Selection into Employment
VL - 132
ER -
TY - JOUR
AB - In this paper, we analyze the effect of light conditions on road accidents and estimate the long run consequences of different time regimes for road safety. Identification is based on variation in light conditions induced by differences in sunrise and sunset times across space and time. We estimate that darkness causes annual costs of more than £500 million in Great Britain. By setting daylight saving time year-round 8 percent of these costs could be saved. Thus, focusing solely on the short run costs related to the transition itself underestimates the total costs of the current time regime.
AU - Bünnings, Christian
AU - Schiele, Valentin
ID - 15073
IS - 1
JF - The Review of Economics and Statistics
SN - 0034-6535
TI - Spring Forward, Don't Fall Back: The Effect of Daylight Saving Time on Road Safety
VL - 103
ER -
TY - JOUR
AB - AbstractIn this article we combine Debreu’s (Proc Natl Acad Sci 38(10):886–893, 1952) social system with Hurwicz’s (Econ Design 1(1):1–14, 1994; Am Econ Rev 98(3):577–585, 2008) ideas of embedding a “desired” game form into a “natural” game form that includes all feasible behavior, even if it is “illegal” according to the desired form. For the resulting socio-legal system we extend Debreu’s concepts of a social system and its social equilibria to a socio-legal system with its Debreu–Hurwicz equilibria. We build on a more general version of social equilibrium due to Shafer and Sonnenschein (J Math Econ 2(3):345–348, 1975) that also generalizes the dc-mechanism of Koray and Yildiz (J Econ Theory 176:479–502, 2018) which relates implementation via mechanisms with implementation via rights structures as introduced by Sertel (Designing rights: invisible hand theorems, covering and membership. Tech. rep. Mimeo, Bogazici University, 2001). In the second part we apply and illustrate these new concepts via an application in the narrow welfarist framework of two person cooperative bargaining. There we provide in a socio-legal system based on Nash’s demand game an implementation of the Nash bargaining solution in Debreu–Hurwicz equilibrium.
AU - Haake, Claus-Jochen
AU - Trockel, Walter
ID - 29152
JF - Review of Economic Design
SN - 1434-4742
TI - Socio-legal systems and implementation of the Nash solution in Debreu–Hurwicz equilibrium
ER -
TY - JOUR
AB - AbstractUsing data from the German Socio-Economic Panel for 1984–2018, we analyze the intergenerational education mobility of immigrants in Germany by identifying the determinants of differences in educational stocks for first- and second-generation immigrants in comparison to individuals without a migration background. Our results show that on average, first-generation immigrants have fewer years of schooling than native-born Germans and have a disproportionate share of lower educational qualifications. This gap is strongly driven by age at immigration, with immigration age and education revealing a nonlinear relationship. While the gap is relatively small among individuals who migrate at a young age, integrating in the school system at secondary school age leads to large disadvantages. Examining the educational mobility of immigrants in Germany, we identify an inter-generational catch-up in education. The gap in education between immigrants and natives is reduced for the second generation. Finally, we find that country of origin differences can account for much of the education gap. While immigrants with an ethnic background closer to the German language and culture show the best education outcomes, immigrants from Turkey, Italy, and other southern European countries and especially the group of war refugees from Syria, Afghanistan, Iraq and other MENA countries, have the lowest educational attainment.
AU - Gries, Thomas
AU - Redlin, Margarete
AU - Zehra, Moonum
ID - 22715
JF - Journal of International Migration and Integration
SN - 1488-3473
TI - Educational Assimilation of First-Generation and Second-Generation Immigrants in Germany
ER -
TY - JOUR
AB - AbstractUsing time series data for the period 1959–2015, our empirical analysis examines the simultaneous effects of the individual components of the global carbon budget on temperature. Specifically, we explore the possible effects of carbon emissions caused by fossil fuel combustion, cement production, land-use change emissions, and carbon sinks (here in terms of land sink and ocean sink) on climate change. The simultaneous inclusion of carbon emissions and carbon sinks allows us to look at the coexistent and opposing effects of the individual components of the carbon budget and thus provides a holistic perspective from which to explore the relationship between the global carbon budget and global warming. The results reveal a significant positive effect of carbon emissions on temperature for both fossil fuels emissions and emissions from land-use change, confirming previous results concerning carbon dioxide and temperature. Further, while ocean sink does not seem to have a significant effect, we identify a temperature-decreasing effect for land sink.
AU - Redlin, Margarete
AU - Gries, Thomas
ID - 23594
JF - Theoretical and Applied Climatology
SN - 0177-798X
TI - Anthropogenic climate change: the impact of the global carbon budget
ER -
TY - GEN
AU - N., N.
ID - 42317
TI - Die Aufteilung der Barentsseegebiete mithilfe des Adjusted Winner Verfahrens bei asymmetrischen Machtverhältnissen
ER -
TY - GEN
AU - N., N.
ID - 42315
TI - Versionisierung von Serviceleistungen auf Videoplattformen
ER -
TY - GEN
AU - N., N.
ID - 42321
TI - Kindergarten Allocation through Matching Mechanisms
ER -
TY - GEN
AU - N., N.
ID - 42309
TI - Faire Profitverteilung in Energienetzwerken - eine spieltheoretische Analyse von Microgrids
ER -
TY - GEN
AU - N., N.
ID - 42311
TI - "First-Party-Content" auf zweiseitigen Märkten
ER -
TY - GEN
AU - N., N.
ID - 42314
TI - Stability in many-to-many matchings with contracts
ER -
TY - GEN
AU - N., N.
ID - 42313
TI - Preissetzungsstrategien für Neuprodukte
ER -
TY - GEN
AU - N., N.
ID - 42310
TI - Co-opetition in Two-Sided Markets
ER -
TY - GEN
AU - N., N.
ID - 42312
TI - Matching mit Minderheiten
ER -
TY - GEN
AU - N., N.
ID - 42316
TI - Piracy and Visioning
ER -
TY - GEN
AU - N., N.
ID - 42303
TI - Revenue Sharing Contracts: Horizontale Koordination in der E-Commerce-Logistik
ER -
TY - JOUR
AB - I study a dynamic variant of the DixitâStiglitz (Am Econ Rev 67(3), 1977) model of monopolistic competition by introducing price stickiness à la Fershtman and Kamien (Econometrica 55(5), 1987). The analysis is restricted to bounded quantity and price paths that fulfill the necessary conditions for an open-loop Nash equilibrium. I show that there exists a symmetric steady state and that its stability depends on the degree of product differentiation. When moving from complements to perfect substitutes, the steady state is either a locally asymptotically unstable (spiral) source, a stable (spiral) sink or a saddle point. I further apply the Hopf bifurcation theorem and prove the existence of limit cycles, when passing from a stable to an unstable steady state. Lastly, I provide a numerical example and show that there exists a stable limit cycle.
AU - Hoof, Simon
ID - 45640
IS - 2
JF - Journal of Optimization Theory and Applications
SN - 1573-2878
TI - Dynamic Monopolistic Competition
VL - 189
ER -
TY - GEN
AB - Individual cognitive functioning declines over time. We seek to understand how adverse physical health shocks in older ages contribute to this development. By use of event-study methods and data from the USA, England and several countries in Continental Europe we find evidence that health shocks lead to an immediate and persistent decline in cognitive functioning. This robust finding holds in all regions representing different health insurance systems and seems to be independent of underlying individual demographic characteristics such as sex and age. We also ask whether variables that are susceptible to policy action can reduce the negative consequences of a health shock. Our results suggest that neither compulsory education nor retirement regulations moderate the effects, thus emphasizing the importance of maintaining good physical health in old age for cognitive functioning.
AU - Schiele, Valentin
AU - Schmitz, Hendrik
ID - 46540
KW - Cognitive decline
KW - health shocks
KW - retirement
KW - education
KW - event study
TI - Understanding cognitive decline in older ages: The role of health shocks
VL - 919
ER -
TY - GEN
AB - We study effects of retirement on cognitive abilities (up to ten years after retirement) using data from 21 countries in Continental Europe, England, and the US, and exploiting early-retirement thresholds for identification. For this purpose, combines event-study estimations with the marginal treatment effect framework to allow for effect heterogeneity. This helps to decompose event-study estimates into true medium-run effects of retirement and effects driven by differential retirement preferences. Our results suggest considerable negative effects of retirement on cognitive abilities. We also detect substantial effect heterogeneity: Those who retire as early as possible are not affected while those who retire later exhibit negative effects.
AU - Schmitz, Hendrik
AU - Westphal, Matthias
ID - 46537
KW - Cognitive abilities
KW - retirement
KW - event study
KW - marginal treatment effects
TI - The dynamic and heterogeneous effects of retirement on cognitive decline
VL - 918
ER -
TY - CONF
AU - Krauter, Stefan
AU - Böcker, Joachim
AU - Freitag, Christine
AU - Hehenkamp, Burkhard
AU - Hilleringmann, Ulrich
AU - Temmen, Katrin
AU - Klaus, Tobias
AU - Rohrer, Nicolaus
AU - Lehmann, Sven
ID - 22218
KW - Art-D
KW - Afrika
KW - Resilienz
KW - Resilience
KW - Grid stability
KW - robustness
KW - microgrids
SN - 978-3-948176-14-3
T2 - Tagungsband des 36. PV-Symposiums, 18.-26 Mai 2021
TI - Projekt Art-D Grids: Nachhaltige und stabile Microgrids in Afrika - eine Plattform für Forschung und Lehre für die Entwicklung
ER -
TY - JOUR
AU - Feng, Yuanhua
AU - Gries, Thomas
AU - Fritz, Marlon
ID - 17072
JF - Journal of Nonparametric Statistics
SN - 1048-5252
TI - Data-driven local polynomial for the trend and its derivatives in economic time series
ER -
TY - JOUR
AU - Gries, Thomas
AU - Grundmann, Rainer
ID - 17074
JF - Review of Development Economics
SN - 1363-6669
TI - Modern sector development: The role of exports and institutions in developing countries
ER -
TY - JOUR
AB - This study examines the gender gap in competitiveness in an educational setting
and tests whether this gap depends on the difficulty of the task at hand. For this purpose,
we administered a series of experiments during the final exam of a university
course. We confronted three cohorts of undergraduate students with a set of bonus
questions and the choice between an absolute and a tournament grading scheme
for these questions. To test the moderating impact of task difficulty, we (randomly)
varied the difficulty of the questions between treatment groups. We find that, on
average, women are significantly less likely to select the tournament scheme. However,
the results show that the gender gap in tournament entry is sizable when the
questions are relative easy, but much smaller and statistical insignificant when the
questions are difficult.
AU - Hoyer, Britta
AU - van Huizen, Thomas
AU - Keijzer, Linda
AU - Rezaei, Sarah
AU - Rosenkranz, Stephanie
AU - Westbrock, Bastian
ID - 16273
JF - Labour Economics
TI - Gender, competitiveness, and task difficulty: Evidence from the field
ER -
TY - JOUR
AB - We analyze the actual behavior of agents in a matching mechanism, using data from a clearinghouse at the Faculty of Business Administration and Economics at a German university, where a variant of the Boston mechanism is used. We supplement this data with data generated in a survey among the students who participated in the clearinghouse. We find that under the current mechanism over 74% of students act strategically by misrepresenting at least one of their preferences. Nevertheless, not all students are able to improve their outcome by doing so. We show that this is mainly due to the incomplete information of students and naiveté. Sophisticated students actually reach significantly better outcomes than naive students. Thus, we find evidence that naive students are exploited by sophisticated students in an incomplete information setting.
AU - Hoyer, Britta
AU - Stroh-Maraun, Nadja
ID - 16334
JF - Games and Economic Behavior
TI - Matching Strategies of Heterogeneous Agents under Incomplete Information in a University Clearinghouse
VL - 121
ER -
TY - JOUR
AU - Schmitz, Hendrik
AU - Stroka‐Wetsch, Magdalena A.
ID - 30234
IS - 7
JF - Health Economics
KW - Health Policy
SN - 1057-9230
TI - Determinants of nursing home choice: Does reported quality matter?
VL - 29
ER -
TY - JOUR
AB - Much work on innovation strategy assumes or theorizes that competition in innovation elicits duplication of research and that disclosure decreases such duplication. We validate this empirically using the American Inventors Protection Act (AIPA), three complementary identification strategies, and a new measure of blocked future patent applications. We show that AIPA—intended to reduce duplication, through default disclosure of patent applications 18 months after filing—reduced duplication in the U.S. and European patent systems. The blocking measure provides a clear and micro measure of technological competition that can be aggregated to facilitate the empirical investigation of innovation, firm strategy, and the positive and negative externalities of patenting. This paper was accepted by Joshua Gans, business strategy.
AU - Lück, Sonja
AU - Balsmeier, Benjamin
AU - Seliger, Florian
AU - Fleming, Lee
ID - 31802
IS - 6
JF - Management Science
KW - Management Science and Operations Research
KW - Strategy and Management
SN - 0025-1909
TI - Early Disclosure of Invention and Reduced Duplication: An Empirical Test
VL - 66
ER -
TY - JOUR
AU - Haake, Claus-Jochen
AU - Trockel, Walter
ID - 34115
IS - 1-2
JF - Homo Oeconomicus
KW - Industrial and Manufacturing Engineering
KW - Environmental Engineering
SN - 0943-0180
TI - Introduction to the Special Issue “Bargaining”
VL - 37
ER -
TY - JOUR
AB - Many countries have opened their health care markets to private for-profit providers, aiming to promote quality and choice for patients. The prices are regulated and providers compete in location and quality. We show that whereas opening a public hospital market typically raises quality, the private provider strategically locates towards the corner of the market to avoid costly quality competition. Social welfare depends on the size of the regulator's budget and on the altruism of the public provider. If the budget is large, high quality results and welfare is highest in a duopoly whenever entry is optimal. If the budget is small, quality levels in a duopoly mirror the quality level in a monopoly. It can be optimal for the regulator not to use the full budget.
AU - Hehenkamp, Burkhard
AU - Kaarbøe, Odvar M.
ID - 17350
JF - Journal of Economic Behavior & Organization
TI - Location Choice and Quality Competition in Mixed Hospital Markets
VL - 177
ER -
TY - JOUR
AU - Gries, Thomas
AU - Redlin, Margarete
ID - 17086
JF - International Economics and Economic Policy
SN - 1612-4804
TI - Trade and economic development: global causality and development- and openness-related heterogeneity
VL - 17
ER -
TY - GEN
AU - N., N.
ID - 42278
TI - Zuordnungsverfahren für Tauschbörsen
ER -
TY - GEN
AU - N., N.
ID - 42307
TI - Weitsichtigkeit zur Bildung stabiler Koalitionen - eine spieltheoretische Analyse
ER -
TY - GEN
AU - N., N.
ID - 42308
TI - Verhandeltes strategisches Verhalten
ER -
TY - GEN
AU - N., N.
ID - 42301
TI - Kronzeugenprogramme zur Aufdeckung von Kartellen - Eine spieltheoretische Analyse
ER -
TY - GEN
AU - N., N.
ID - 42299
TI - Eine ökonomische Analyse der Piraterie in zweiseitigen Softwaremärkten
ER -
TY - GEN
AU - N., N.
ID - 42304
TI - Kulturelle Unterschiede beim Lösen von Verhandlungsproblemen
ER -
TY - GEN
AU - N., N.
ID - 42298
TI - Productivity optimization through project matching
ER -
TY - GEN
AU - N., N.
ID - 42306
TI - Matching Mechanisms and Organ Exchange
ER -
TY - GEN
AU - N., N.
ID - 42300
TI - Cartel Fines in the European Union
ER -
TY - GEN
AU - N., N.
ID - 42302
TI - Anspruchsregeln in Verhandlungen
ER -
TY - GEN
AU - N., N.
ID - 42292
TI - Die Zusammenstellung eines Sortiments als Beispiel interdependenter Verhandlungen
ER -
TY - GEN
AU - N., N.
ID - 42294
TI - Matching in Netzwerken
ER -
TY - GEN
AB - Theoretical papers show that optimal prevention decisions in the sense of selfprotection (i.e., primary prevention) depend not only on the level of (second-order) risk aversion but also on higher-order risk preferences such as prudence (third-order risk aversion). We study empirically whether these theoretical results hold and whether prudent individuals show less preventive (self-protection) effort than non-prudent individuals. We use a unique dataset that combines data on higher-order risk preferences and various measures of observed real-world prevention behavior. We find that prudent individuals indeed invest less in self-protection as measured by influenza vaccination. This result is driven by high risk individuals such as individuals >60 years of age or chronically ill. We do not find a clear empirical relationship between riskpreferences and prevention in the sense of self-insurance (i.e. secondary prevention). Neither risk aversion nor prudence is related to cancer screenings such as mammograms, Pap smears or X-rays of the lung.
AU - Mayrhofer, Thomas
AU - Schmitz, Hendrik
ID - 46541
KW - prudence
KW - risk preferences
KW - prevention
KW - vaccination
KW - screening
TI - Prudence and prevention: Empirical evidence
VL - 863
ER -
TY - JOUR
AU - Gries, Thomas
AU - Jungblut, Stefan
AU - Krieger, Tim
AU - Meyer, Henning
ID - 2808
IS - 2
JF - German Economic Review
TI - Economic Retirement Age and Lifelong Learning - a theoretical model with heterogeneous labor and biased technical change
VL - 20
ER -
TY - JOUR
AB - We investigate the degree of price competition among telecommunication firms. Underlying a Bertrand model of price competition, we empirically model pricing behaviour in an oligopoly. We analyse panel data of individual pricing information of mobile phone contracts offered between 2011 and 2017. We provide empirical evidence that price differences as well as reputational effects serve as a signal to buyers and significantly affect market demand. Additionally, we find that brands lead to an increase in demand and thus are able to generate spillover effects even after price increase.
AU - Kaimann, Daniel
AU - Hoyer, Britta
ID - 1139
IS - 1
JF - Applied Economics Letters
TI - Price competition and the Bertrand model: The paradox of the German mobile discount market
VL - 26
ER -
TY - JOUR
AB - Social psychology studies the "common enemy effect", the phenomenon
that members of a group work together when they face an opponent, although they otherwise have little in common. An interesting scenario
is the formation of an information network where group members individually sponsor costly links. Suppose that ceteris paribus, an outsider
appears who aims to disrupt the information
flow within the network
by deleting some of the links. The question is how the group responds
to this common enemy. We address this question for the homogeneous
connections model of strategic network formation, with two-way
flow of
information and without information decay. For sufficiently low linkage
costs, the external threat can lead to a more connected network, a positive
common enemy effect. For very high but not prohibitively high linkage
costs, the equilibrium network can be minimally connected and efficient
in the absence of the external threat whereas it is always empty and inefficient in the presence of the external threat, a negative common enemy
effect. For intermediate linkage costs, both connected networks and the
empty network are Nash for certain cost ranges.
AU - Hoyer, Britta
AU - Haller, Hans
ID - 2256
JF - Journal of Economic Behavior & Organization
TI - The Common Enemy Effect under Strategic Network Formation and Disruption
VL - 162
ER -
TY - JOUR
AB - Models on network formation have often been extended to include the potential of network disruption in recent years. Whereas the theoretical research on network formation under the threat of disruption has thus gained prominence, hardly any experimental research exists so far. In this paper, we therefore experimentally study the emergence of networks including the aspect of a known external threat by relating theoretical predictions by Dzuibiński and Goyal (2013) to actual observed behaviour. We deal with the question if subjects in the role of a strategic Designer are able to form safe networks for least costs while facing a strategic Adversary who is going to attack their networks. Varying the costs for protecting nodes, we designed and tested two treatments with different predictions for the equilibrium network and investigated whether one of the least cost equilibrium networks was more likely to be reached. Furthermore, the influence of the subjects’ farsightedness on their decision-making process was elicited and analysed.
We find that while subjects are able to build safe networks in both treatments, equilibrium networks are only built in one of the two treatments. In the other treatment, predominantly safe networks are built but they are not for least costs. Additionally, we find that farsightedness –as measured in our experiment– has no influence on whether subjects are able to build safe or least cost equilibrium networks. Two robustness settings with a reduced external threat or more liberties to modify the initial networks qualitatively confirm our results. Overall, in this experiment observed behaviour is only partially in line with the theoretical predictions by Dzuibiński and Goyal (2013).
AU - Endres, Angelika Elfriede
AU - Recker, Sonja
AU - Mir Djawadi, Behnud
AU - Hoyer, Britta
ID - 80
JF - Journal of Economic Behavior and Organization
TI - Network Formation and Disruption - An Experiment: Are equilibrium networks too complex?
VL - 157
ER -
TY - GEN
AB - In this paper, we analyze a credence goods model adjusted to the health care market with regulated prices and heterogeneous experts. Experts are physicians and are assumed to differ in their cost of treating a small problem. We investigate the effects of this heterogeneity on the physicians’ level of fraud and on the patients’ search for second opinions. We find that introducing a fraction of more efficient low-cost physicians always increases social welfare, but in some cases only because of the raised physicians’ surplus. When the low-cost physicians’ cost advantage is small, imposing a share of low-cost physicians does not change the equilibrium fraud level. When the cost advantage is large, however, different changes in the fraud level occur depending on the share of generated low-cost physicians, the search rate and the initial level of fraud.
AU - Heinzel, Joachim Maria Josef
ID - 7630
KW - credence goods
KW - treatment efficiency
KW - heterogeneous experts
KW - overcharging
TI - Credence Goods Markets with Heterogeneous Experts
VL - 118
ER -
TY - GEN
AB - We analyze a credence goods market adapted to a health care market with regulated prices, where physicians are heterogeneous regarding their fairness concerns. The opportunistic physicians only consider monetary incentives while the fair physicians, in addition to a monetary payoff, gain an non-monetary utility from being honest towards patients. We investigate how this heterogeneity affects the physicians’ equilibrium level of overcharging and the patients’ search for second opinions (which determines overall welfare). The impact of the heterogeneity on the fraud level is ambiguous and depends on several factors such as the size of the fairness utility, the share of fair physicians, the search level and the initial fraud level. Introducing heterogeneity does not affect the fraud or the search level when the share of fair physicians is small. However, when social welfare is not at its maximum, social welfare always increases if we introduce a sufficiently large share of fair physicians.
AU - Heinzel, Joachim Maria Josef
ID - 8873
KW - credence goods
KW - heterogeneous experts
KW - fairness
KW - overcharging
TI - Credence Goods Markets with Fair and Opportunistic Experts
VL - 119
ER -
TY - JOUR
AU - Fritz, Marlon
AU - Gries, Thomas
AU - Feng, Yuanhua
ID - 9920
JF - Economics Letters
SN - 0165-1765
TI - Secular stagnation? Is there statistical evidence of an unprecedented, systematic decline in growth?
VL - 181
ER -
TY - JOUR
AU - Gries, Thomas
AU - Fritz, Marlon
AU - Yuanhua, Feng
ID - 6734
IS - 1
JF - Oxford Bulletin of Economics and Statistics
TI - Growth Trends and Systematic Patterns of Boom and Busts –Testing 200 Years of Business Cycle Dynamics
VL - 81
ER -
TY - GEN
AB - In this paper, we analyze the two-dimensional Nash bargaining solution (NBS) deploying a standard labor market negotiations model (see McDonald and Solow, 1981; Creedy and McDonald, 1991). We show that the two-dimensional bargaining problem can be decomposed into two one-dimensional problems such that the (Cartesian) product of the solutions of these problems replicates the solution of the two-dimensional problem, if the NBS is applied. However, this decomposition fails for any solution concept that does not satisfy the axiom of Independence of Irrelevant Alternatives (IIA axiom). Our decomposition result has significant implications for actual negotiations, as it allows for the decomposition of a multi-issue bargaining problem into a set of simpler problems, in particular a set of single-issue bargaining problems. In this way, the decomposition may help facilitate negotiations in labor markets and also in other environments.
AU - Haake, Claus-Jochen
AU - Upmann, Thorsten
AU - Duman, Papatya
ID - 15202
KW - Labor market negotiations
KW - Efficient bargains
KW - Nash bargaining solution
KW - Sequential bargaining
KW - Restricted bargaining games
TI - The Decomposability of the Nash Bargaining Solution in Labor Markets
VL - 128
ER -
TY - GEN
AB - We criticize some conceptual weaknesses in the recent literature on coalitional TUgames and propose, based on our critics, a new definition of dual TU-games that coincides with the one in the literature on the class of super-additive games. We justify our new definition in four alternative ways: 1. Via an adequate definition of ecient payo vectors. 2. Via a modification of the Bondareva-Shapley duality. 3. Via an explicit consideration of \coalition building". 4. Via associating general TU-games to coalition-production economies. Rather than imputations, we base our analysis on a modification of aspirations.
AU - Aslan, Fatma
AU - Duman, Papatya
AU - Trockel, Walter
ID - 15204
KW - TU-games
KW - duality
KW - core
KW - c-Core
KW - cohesive games
KW - complete game efficiency
TI - Duality for General TU-games Redefined
VL - 121
ER -
TY - JOUR
AU - Gries, Thomas
ID - 10090
JF - The American Economist
SN - 0569-4345
TI - A New Theory of Demand-Restricted Growth: The Basic Idea
ER -
TY - GEN
AB - We analyze the incentives for retail bundling and the welfare effects of retail bundling in a decentralized distribution channel with two retailers and two monopolistic manufacturers. One manufacturer exclusively sells his good to one retailer, whereas the other manufacturer sells his good to both retailers. Thus, one retailer is a monopolist for one product but competes with the other retailer in the second product market. The two-product retailer has the option to bundle his goods or to sell them separately. We find that bundling aggravates the double marginalization problem for the bundling retailer. Nevertheless, when the retailers compete in prices, bundling can be more profitable than separate selling for the retailer as bundling softens the retail competition. The ultimate outcome depends on the manufacturers’ marginal costs. Given retail quantity competition, however, bundling is in no case the retailer’s best strategy. Furthermore, we show that profitable bundling reduces consumer and producer surplus in the equilibrium.
AU - Heinzel, Joachim Maria Josef
ID - 10332
KW - retail bundling
KW - leverage theory
KW - double marginalization
TI - Bundling in a Distribution Channel with Retail Competition
ER -
TY - JOUR
AU - Bünnings, Christian
AU - Schmitz, Hendrik
AU - Tauchmann, Harald
AU - Ziebarth, Nicolas R.
ID - 15075
IS - 2
JF - Journal of Risk and Insurance
SN - 0022-4367
TI - The Role of Prices Relative to Supplemental Benefits and Service Quality in Health Plan Choice
VL - 86
ER -
TY - JOUR
AU - Gries, Thomas
AU - Redlin, Margarete
ID - 2727
IS - 3
JF - Defence and Peace Economics
SN - 1024-2694
TI - Pirates – The Young and the Jobless: The Effect of Youth Bulges and Youth Labor Market Integration on Maritime Piracy
VL - 30
ER -
TY - GEN
AU - N., N.
ID - 42296
TI - Intermediaries in Networks
ER -
TY - GEN
AU - N., N.
ID - 42286
TI - Logrolling-Prozess: Theorie und formale Darstellung einer verhandlungsunterstützenden Methode
ER -
TY - GEN
AU - N., N.
ID - 42290
TI - Stability in two-sided matchings with asymmetric information
ER -
TY - GEN
AU - N., N.
ID - 42289
TI - Sincere and Sophisticated Players in Matching Markets
ER -
TY - GEN
AU - N., N.
ID - 42291
TI - Mechanismen zur Informationsgewinnung in Verhandlungen
ER -
TY - GEN
AU - N., N.
ID - 42288
TI - Die faire Verteilung unteilbarer Güter
ER -
TY - GEN
AU - N., N.
ID - 42295
TI - Axiomatisierungen des Banzhaf-Wertes
ER -
TY - GEN
AU - N., N.
ID - 42293
TI - Compatibilities in Matching Mechanisms
ER -
TY - GEN
AU - N., N.
ID - 42284
TI - Faire Aufteilung von unteilbaren Gütern: Untersuchung von Algorithmen auf Effizienz und Neidfreiheit
ER -
TY - GEN
AU - N., N.
ID - 42280
TI - Anwendung und Vergleich von Verhandlungslösungen auf das Netzwerk-Design-Problem
ER -
TY - GEN
AU - N., N.
ID - 42285
TI - Verhandlungen mit Intermediären in IT-Märkten: eine spieltheoretische Analyse
ER -
TY - GEN
AU - N., N.
ID - 42281
TI - A bargaining model for relative profit and market share delegation contracts
ER -
TY - GEN
AU - N., N.
ID - 41926
TI - Wettbewerb in Märkten für Dienstleitungen mit uninformierten Kunden
ER -
TY - GEN
AU - N., N.
ID - 42277
TI - Der Shapley-Wert als Index für phylogenetische Diversität
ER -
TY - GEN
AU - N., N.
ID - 42283
TI - Student's school matching mechanisms in the US
ER -
TY - JOUR
AU - Gries, Thomas
AU - Grundmann, Rainer
ID - 2814
IS - 3
JF - Journal of International Development
TI - Fertility and Modernization: The Role of Urbanization in Developing Countries
VL - 30
ER -
TY - CONF
AB - We consider a market where final products or services are compositions of a number of basic services. Users are asked to evaluate the quality of the composed product after purchase. The quality of the basic service influences the performance of the composed services but cannot be observed directly. The question we pose is whether it is possible to use user evaluations on composed services to assess the quality of basic services. We discuss how to combine aggregation of evaluations across users and disaggregation of information on composed services to derive valuations for the single components. As a solution we propose to use the (weighted) average as aggregation device in connection with the Shapley value as disaggregation method, since this combination fulfills natural requirements in our context. In addition, we address some occurring computational issues: We give an approximate solution concept using only a limited number of evaluations which guarantees nearly optimal results with reduced running time. Lastly, we show that a slightly modified Shapley value and the weighted average are still applicable if the evaluation profiles are incomplete.
AU - Feldotto, Matthias
AU - Haake, Claus-Jochen
AU - Skopalik, Alexander
AU - Stroh-Maraun, Nadja
ID - 2831
SN - 978-1-4503-5916-0
T2 - Proceedings of the 13th Workshop on Economics of Networks, Systems and Computation (NetEcon 2018)
TI - Disaggregating User Evaluations Using the Shapley Value
ER -
TY - GEN
AB - This note deals with agreeability in nontransferable utility (NTU) differential games. We introduce state feedback Pareto weights to enrich the set of efficient cooperative solutions. The framework is particularly useful if constant weights fail to support agreeability, but cooperation is desired nonetheless. The concept is applied to an adverting differential game.
AU - Hoof, Simon
ID - 2565
KW - NTU differential games
KW - variable Pareto weights
KW - agreeability
TI - Feedback Pareto weights in cooperative NTU differential games
VL - 112
ER -