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   Tasks, Technology, and Factor Prices in the Neoclassical Production SectorIrmen, Andreas  in Journal of Economics (2020), 131(2), 101-121 This paper introduces tasks into the neoclassical production sector. Competitive firms choose the profit-maximizing amounts of factor-specific tasks that determine their factor demands and output supplies ... [more ▼] This paper introduces tasks into the neoclassical production sector. Competitive firms choose the profit-maximizing amounts of factor-specific tasks that determine their factor demands and output supplies. We show that the effect of factor-augmenting technical change on relative and absolute factor prices can be decomposed into a productivity effect and a task-demand effect of opposite sign. These effects appear since the novel task-based approach distinguishes between the demands for tasks and the demands for factors. This perspective provides a new intuition for the emergence of relative and absolute factor biases and the role of the elasticity of substitution. [less ▲] Detailed reference viewed: 17 (2 UL)How politicians make decisions under risk: a political choice experimentFatas, Enrique ; ; Neugebauer, Tibor in Journal of Economics (2007), 32(2), 167-196 We report on an experimental study with real-world politicians. These political experts face political choice problems under risk and probability. Thus, we test the frequently observed violations of ... [more ▼] We report on an experimental study with real-world politicians. These political experts face political choice problems under risk and probability. Thus, we test the frequently observed violations of rational choice theory -the reference point effect, loss aversion, framing effects, and the common ratio effect- with experts from the field. Their choices violate expected utility theory. Nevertheless, they appear to be more rational and less risk averse (loving) in the domain of gains (losses) than student subjects. [less ▲] Detailed reference viewed: 34 (3 UL)Properties of Equivalence Scales in Different CountriesKoulovatianos, Christos ; ; in Journal of Economics (2005), 86 Recent studies in high-income industrialized countries have shown that equivalence scales are income-dependent. We investigate whether this dependence also holds in poorer, services oriented countries, by ... [more ▼] Recent studies in high-income industrialized countries have shown that equivalence scales are income-dependent. We investigate whether this dependence also holds in poorer, services oriented countries, by considering the example of Cyprus. We also examine whether household economies of scale and relative children costs differ. [less ▲] Detailed reference viewed: 108 (2 UL)Taxation and Labor MarketsPicard, Pierre M ; in Journal of Economics (2002), 78(1), 29-56 We exploit the common features of models such as union-firm wage bargaining, search and efficiency wage models to develop a framework that can be used for analyzing the effects of any budget-neutral tax ... [more ▼] We exploit the common features of models such as union-firm wage bargaining, search and efficiency wage models to develop a framework that can be used for analyzing the effects of any budget-neutral tax reform on employment in these models. We show that taxes paid by workers are not equivalent to taxes paid by firms when taxes are non linear. Moreover, increasing progressivity is good for employment in these models. [less ▲] Detailed reference viewed: 129 (2 UL) On the incentives to provide fuel-efficient automobiles; Irmen, Andreas in Journal of Economics (2001), 73(2), 149-165 We argue that the provision of more fuel-efficient cars necessitates specific aerodynamic shapes. We show that the presence of this technological constraint may reduce the incentives to provide fuel ... [more ▼] We argue that the provision of more fuel-efficient cars necessitates specific aerodynamic shapes. We show that the presence of this technological constraint may reduce the incentives to provide fuel efficiency. In equilibrium, cars become more similar and aerodynamic as fuel prices increase. However, the provided level of fuel efficiency falls short of the social optimal one such that a fuel-economy standard is welfare-enhancing.<P>(This abstract was borrowed from another version of this item.) [less ▲] Detailed reference viewed: 113 (1 UL) |
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