Performance pay and worker cooperation: Evidence from an artefactual field experiment

We report the results of an artefactual field experiment with bicycle messengers in Switzerland and the United States. Messenger work is individualized enough that firms can choose to condition pay on it, but significant externalities in messenger behavior nonetheless give their on-the-job interactions the character of a social dilemma. Second-mover behavior in our sequential prisoner's dilemma allows us to characterize the cooperativeness of our participants. Among messengers, we find that employees at firms that pay for performance are significantly less cooperative than those at firms that pay hourly wages or who are members of cooperatives. To examine whether the difference is the result of treatment or selection we exploit the fact that firm type is location-specific in Switzerland and that entering messengers must work in performance pay firms in the U.S.     

Choice, price competition and complexity in markets for health insurance

The United States and other nations rely on consumer choice and price competition between competing health plans to allocate resources in the health sector. While a great deal of research has examined the efficiency consequences of adverse selection in health insurance markets, less attention has been devoted to other aspects of consumer choice. The nation of Switzerland offers a unique opportunity to study price competition in health insurance markets. Switzerland regulates health insurance markets with the aim of minimizing adverse selection and encouraging strong price competition. We examine consumer responses to price differences in local markets and the degree of price variation in local markets. Using both survey data and observations on local markets we obtain evidence suggesting that as the number of choices offered to individuals grows, their willingness to switch plans given a set of price dispersion differences declines, which allows large price differences for relatively homogeneous products to persist. We consider explanations for this phenomenon from economics and psychology.     

RECENT DEVELOPMENTS IN CONSUMER CREDIT AND DEFAULT LITERATURE

This survey discusses recent contributions to the quantitative literature on unsecured consumer debt and default, and some ongoing challenges for the literature. Key topics include the sources of the rise in personal bankruptcies, the importance of asymmetric information and the effects of developments in information technologies on consumer credit markets, delinquency and informal bankruptcy, debt collection and restructuring of distressed debt, the cyclical behavior of consumer debt and default, and the insurance role of household debt. Implications for welfare analysis and policy design are discussed. Several theoretical contributions and approaches to modeling the consumer credit markets are also highlighted.     

IM反馈及时性对消费者态度和购买意愿影响的研究——产品类型和价格可议性的调节作用

即时通讯(Instant Messaging,IM)在网络购物中起着不可忽视的作用.本文通过对277名网络消费者进行情境模拟实验,探究了IM反馈及时性、产品类型和价格可议性三个变量对消费者态度及购买意愿的影响.结果表明:(1)IM反馈及时性对消费者态度和购买意愿具有显著正向影响:及时反馈比不反馈有更高的消费者态度和购买意愿;(2)产品类型在上述关系中有一定调节作用:体验型产品受IM反馈及时性的影响更大;(3)价格可议性并无显著调节作用.根据研究结果,从网络商家角度提出相应管理建议.     

Stylised features of consumer price setting behaviour in Portugal: 1992–2001

This paper identifies the empirical stylized features of consumer price setting behavior in Portugal using two micro-datasets underlying the consumer price index. The main conclusions are: one in every four prices change each month; there is a considerable degree of heterogeneity in price setting practices; prices of goods change more often than prices of services; price reductions are common, as they account to around 40% of total price changes; price changes are, in general, sizeable; finally, the price setting patterns seem to depend on the level of inflation as well as on the type of outlet.

On the determinants of household debt maturity choice

This article jointly analyses a behavioural and a cultural concept to explain household debt portfolio choice. The behavioural approach explores the role of time preferences on household debt maturity in a theoretical model and a numerical analysis. We derive a positive relationship between the long-term discount factor δ and the optimal maturity of household loans. The cultural approach examines whether national culture is a reasonable predictor for household debt maturity. We show that culture is an important factor for households’ borrowing decisions and has even more predictive power than time preferences. Countries with higher scores on the Hofstede dimension of long-term orientation tend to have shorter household debt maturity. Time preferences incur a primarily mediating role, because the effect of national culture on the borrowing decision is reduced, as the long-term discount factor δ increases.     

Preferences for Educational Status,Human Capital Accumulation,and Growth

Using an overlapping generations model in which human capital accumulation has positive external effects on the production of the human capital of future generations, this paper analyzes implications of agents’ having preferences for educational status, represented by human capital holdings relative to the social average. Examining the value and sign of the optimal distortionary tax in the optimal taxation scheme, we analyze the efficiency of the level of human capital accumulation in a decentralized economy. The desire for educational status can compensate for insufficient accumulation of human capital stemming from human capital externalities directed toward future generations.     

广告文化与广告的有效传播

在咨询越来越丰富、信息内容越来越多的今天,广告通过文化叙述,为产品(服务)延伸出一个观念,添加一种与众不同的、新的附加值,从而引起消费者的注意,这是提升广告传播有效性的重要途径。但有文化附加值的广告不一定都能奏效,也不一定与销售指数的上升成正比,有的甚至成为败笔。所以需要认真地研究,关注广告的文化品位,注意广告文化诉求在内容和形式上的明晰一致,特别要了解广告文化诉求对象———消费者的文化心理,以使广告的文化诉求可以更好地抵达消费者心中。     

MQS对社会福利和市场结构的影响

一般文献通常假设一国收入水平为均匀分配,且市场完全覆盖,以此分析MQS对社会福利的影响,通常认为MQS会降低一国社会福利。通过拓展一国收入水平呈均匀分配的假设,且假定市场不完全覆盖,以一高收入国和一低收入国为对比,探讨MQS对社会福利以及产业结构的影响。研究发现,MQS对社会福利的影响和一国的富裕程度有关。如果一国收入水平较高,MQS的存在通常会降低其社会福利,MQS数值越大,其社会福利损失越大;反之,如果一国收入水平较低,则MQS通常会提高其社会福利,MQS数值越大,社会福利提升越大。同时,MQS的存在会扩大厂商市场覆盖面,但会降低其利润。较高的MQS可能导致一家厂商退出市场,形成独占市场结构。     

Do movie contents influence box-office revenues?

This article studies the determinants of box-office revenues in the motion picture industry. We first adopt an approach that takes into account quality signals (e.g. talent concentration, movie budget and Oscar awards, among others) to analyse the empirical relationship between category-specific parenthood ratings (R-ratings) and box-office revenues. Then, by matching movie contents with economic performance records, our original approach reveals that offensive contents like profanity or nudity may be a hindrance to achieve economic returns, while violent contents seems to enhance box-office revenues. Further research is needed to clarify the interaction in this regard between production budget and movie contents.