Glück — Die Sicht der Ökonomie

Glück führte lange Zeit ein Schattendasein in der ?konomischen Forschung. Das hat sich seit einigen Jahren ge?ndert. Aus den neuen Erkenntnissen zu den wirtschaftlichen und au?erwirtschaftlichen Bestimmungsgründen des Glücks werden auch Empfehlungen für eine Wirtschaftspolitik abgeleitet, die das pers?nliche und gesellschaftliche Glück der Menschen berücksichtigt. Bruno S. Frey und Claudia Frey Marti fassen in diesem Beitrag ihr Buch¹ zu dem Thema zusammen.     

The transition from central planning to a market economy: A computable general equilibrium model

This paper develops a computable general equilibrium (CGE) model of the transition from a central planned economy to a market economy. The model is an extension of Wellisz and Findlay's (1986) model of the Soviet second economy. By distinguishing alternative assumptions about the disposition of the government budget, two model variants — the activist and non-activist — are analyzed. Equilibria of these model variants are computed for various parameter specifications of the Kantorovich ray, which represents the stringency of central planners' direction of the economy. The paper shows that increasing efficiency of the private sector, while it reduces the size of government subsidies to the state sector, does not necessarily increase the net government budget.     

中国刻意“转型”珠三角愁云惨淡

【德国之声8月1日】珠江三角洲转眼间上万企业倒闭，香港业界一片愁云。连阿迪达斯这样的世界名牌也在局部撤离中国。中国变贵了，劳动密集型产业纷纷撤出。但中国政府对此似乎并不在乎，似乎在有意地“转型”。     

HEATH–JARROW–MORTON INTEREST RATE DYNAMICS AND APPROXIMATELY CONSISTENT FORWARD RATE CURVES

We study a finite-dimensional approach to the Heath–Jarrow–Morton model for interest rate and introduce a notion of approximate consistency for a family of functions in a deterministic and stochastic framework. This amounts to asking the decrease of the minimum distance in least squares sense. We start from a general linearly parameterized set of functions and extend the theory to a nonlinear Nelson–Siegel family. Necessary and sufficient condition to have approximately consistency are given as well as a criterion of stability for the approximation.     

Catch me if I fall: Cross-national differences in willingness to take financial risks as a function of social and state ‘cushioning’

Knowledge about the existence and source of national differences in willingness to take risks plays a vital role in ensuring successful communication, collaboration, and understanding across countries, from the personal to the organizational and political/social domain. The current study investigates differences in financial risk-taking willingness between countries as a function of social and state ‘cushioning’, i.e. the extent of a person’s social support network and the state’s social-safety support network. The study compares large-scale household data and self-reports on willingness to take financial risks across three countries differing in their state support networks: Austria, Italy and the United States. Results show that personal social support network size influences risk-taking willingness (social cushioning). Furthermore, and most notably, we find evidence of an interactive relationship between social and state cushioning. High state cushioning renders the influence of social cushioning on financial risk-taking willingness less important. Contributions to management and business practice as well as theory on the influence of personal distance to financial support on risk-taking willingness are discussed.     

Understanding the vulnerability of blind consumers: adaptation in the marketplace,personal traits and coping strategies

ABSTRACT

The purpose of this article is to examine the vulnerability perceived by blind consumers in the marketplace. By analysing the narratives of 16 people that have acquired blindness, we develop an understanding of the internal and external factors that affect their degree of vulnerability and identify their coping strategies. Data analysis consisted of content interpretation and a search for the meaning of the particular experiences, events and states reported by the respondents. Results show how emotional well-being, consumption-facilitating social support, acceptance, autonomy and perceptions about marketplace difficulties all relate to coping mechanisms.     

Do discounted food products end up in the bin? An investigation into the link between deal‐prone shopping behaviour and quantities of household food waste

Household food waste is considered to be the largest share of food waste along the food supply chain. Given that its recoverability is also more challenging compared to food waste in other stages of the chain, most studies on household food waste adopt a pre‐emptive approach by aiming to identify and address consumer beliefs, attitudes and actions that are linked to food waste. In scientific literature, household food waste has often been studied in relation to the habit of purchasing discounted food products (DFP). However, findings have been contradictory. Specifically, while some authors found that deal‐prone consumers are usually of lower income and therefore display a wiser and more attentive attitude towards grocery shopping, other authors reported that the purchase of discounted products was usually linked to compulsive shopping, hence resulting in higher food waste quantities at home. Due to these discrepant findings, a definitive answer on the impact of DFP on household food waste does not currently exist in the literature. This paper analyses the correlation between the purchase of DFP and weekly household food waste quantities. To do so, we examine (a) the results of a food waste diary experiment carried out on a representative sample of 385 households in Italy in February 2017, and (b) the results of a 23‐items Computer Assisted Web Interview survey administered to the same householders, in which shopping habits were investigated. Results revealed no evidence of either a positive or negative relationship between the purchase of DFP and household food waste quantities. Frequency of grocery shopping was the only variable found to have a significant impact on household food waste quantities.