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Number of found documents:
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Naked exclusion with heterogeneous buyers
Chen, Y.; Zápal, Jan
2022 - English
We investigate the effects of buyer heterogeneity in a market in which an incumbent firm prevents entry when it signs enough exclusionary contracts with buyers. With heterogeneous buyers several well-known results in exclusionary contracting with homogenous buyers are overturned and novel ones emerge. First, inefficient equilibria exist in which exclusionary contracts are signed but entry still occurs, and the loss of consumer surplus falls on small buyers. Second, sequential contracting may be more pro-competitive than simultaneous contracting in the sense that entry occurs under sequential but not simultaneous contracting. When this happens, sequential Pareto dominates simultaneous contracting.
Keywords:
contracting with externalities; exclusionary contracts; buyer heterogeneity
Fulltext is available at external website.
Naked exclusion with heterogeneous buyers
We investigate the effects of buyer heterogeneity in a market in which an incumbent firm prevents entry when it signs enough exclusionary contracts with buyers. With heterogeneous buyers several ...
Who divorces whom: unilateral divorce legislation and the educational structure of marriage
Afunts, Geghetsik; Jurajda, Štěpán
2022 - English
There is evidence that the introduction of unilateral divorce legislation (UDL) starting in the late 1960s increased US divorce rates. We ask whether making divorce easier affected the educational structure of marriage. Based on marriage and divorce certificate data covering 1970-1988, we provide new evidence on the evolution of the educational structure of marriage inflows (newlyweds) and outflows (divorces), and estimate UDL difference-in-differences effects on both flows. While UDL did not contribute to rising homogamy (the tendency towards married partners having the same level of education), it did affect the educational structure of marriage: it made generally unstable hypogamous couples (women marrying less educated partners) less likely to divorce, and it made homogamous couples more stable than hypergamous ones (women marrying more educated partners).
Keywords:
homogamy; unilateral divorce; marriage
Fulltext is available at external website.
Who divorces whom: unilateral divorce legislation and the educational structure of marriage
There is evidence that the introduction of unilateral divorce legislation (UDL) starting in the late 1960s increased US divorce rates. We ask whether making divorce easier affected the educational ...
Inflation inequality in the Czech Republic
Adunts, Davit; Kurylo, Bohdana; Špeciánová, J.
2022 - English
This project employs Czech Household Budget Survey and Consumer Price Index data to create consumer price indices for various population subgroups in the Czech Republic. We find that subgroup-specific inflation rates are very similar to the inflation rate for all the non-elderly population, with the exception of single-parent households, which experienced a higher inflation rate in 2022 than did the other subgroups. However, the difference was reasonably modest. Importantly, we found that inflation issuing from housing, water, electricity, gas and other fuels is significantly higher for low-income and single-parent households than for high-income and two-parent households. The difference is particularly significant for single-parent households, for which inflation due to increases in housing, water, electricity, gas and other fuel costs represents 40.15 percent of their overall inflation burden compared to 28.44 percent for two-parent households. This finding suggests that the recent increases in electricity and gas prices may exert particularly harmful effects on single-parent households unless the government provides the support necessary to mitigate the adverse effects of rising prices. While all households are being affected by rising living costs, single-parent and low-income households should be prioritized in terms of support. In addition, we calculated that for low-income and single-parent households, the total loss of purchasing power due to inflation amounts to CZK 15,179 and CZK 20,445, respectively.
Keywords:
inflation; households; Czech Republic
Available at various institutes of the ASCR
Inflation inequality in the Czech Republic
This project employs Czech Household Budget Survey and Consumer Price Index data to create consumer price indices for various population subgroups in the Czech Republic. We find that subgroup-specific ...
Inattentive price discovery in ETFs
Kosar, Mariia; Mikhalishchev, Sergei
2022 - English
This paper studies the information choice of exchange-traded funds (ETF) investors, and its impact on the price efficiency of underlying stocks. First, we show that the learning of stock-specific information can occur at the ETF level. Our results suggest that ETF investors respond endogenously to changes in the fundamental value of underlying stocks, in line with the rational inattention theory. Second, we provide evidence that ETFs facilitate propagation of idiosyncratic shocks across its constituents.
Keywords:
exchange-traded fund; ETF; price efficiency
Fulltext is available at external website.
Inattentive price discovery in ETFs
This paper studies the information choice of exchange-traded funds (ETF) investors, and its impact on the price efficiency of underlying stocks. First, we show that the learning of stock-specific ...
Optimally biased expertise
Ilinov, Pavel; Matveenko, A.; Senkov, Maxim; Starkov, E.
2022 - English
This paper shows that the principal can strictly benefit from delegating a decision to an agent whose opinion differs from that of the principal. We consider a “delegated expertise” problem in which the agent has an advantage in information acquisition relative to the principal, as opposed to having preexisting private information. When the principal is ex ante predisposed towards some action, it is optimal for her to hire an agent who is predisposed towards the same action, but to a smaller extent, since such an agent would acquire more information, which outweighs the bias stemming from misalignment. We show that belief misalignment between an agent and a principal is a viable instrument in delegation, performing on par with contracting and communication in a class of problems.
Keywords:
delegation; rational inattention; heterogeneous beliefs
Fulltext is available at external website.
Optimally biased expertise
This paper shows that the principal can strictly benefit from delegating a decision to an agent whose opinion differs from that of the principal. We consider a “delegated expertise” problem in which ...
Consequences of inconvenient information: evidence from sentencing disparities
Šoltés, Michal
2022 - English
Inconvenient information about the performance of public institutions may undermine public trust. In an experiment, I test how information about sentencing disparities among judges in the Czech Republic affects respondents’ perception of the judicial system. I find no effect on respondents’ declared institutional trust and willingness to rely on the formal judicial system. Instead, the information marginally increased respondents’ policy involvement: They became more likely to: (i) sign a petition that invites politicians to address the underlying issue, and (ii) consider fairness of the judicial system a more important policy issue. The increased interest in the petition was driven by mothers, who are arguably more sensitive to the particular treatment information in the presented case of a failure to pay alimony.
Keywords:
information disclosure; institutional trust; performance of public institutions
Fulltext is available at external website.
Consequences of inconvenient information: evidence from sentencing disparities
Inconvenient information about the performance of public institutions may undermine public trust. In an experiment, I test how information about sentencing disparities among judges in the Czech ...
Compliance behavior under surveillance: introduction of the video assistant referee to European football
Trestcov, Ivan
2022 - English
This paper analyzes the effect of introducing the Video Assistant Referee (VAR) to European football. First, the setting allows for decomposition of the deterrence and monitoring effects in Becker’s (1968) model of crime. Second, I estimate the deterrence effect’s spillover outside the surveillance environment. Third, I find evidence of a much under-studied learning-by-punishment effect. This paper applies the difference-in-difference strategy to show that the introduction of VAR causes a significant decrease in the number of fouls in two German football leagues. VAR had an immediate impact on severe fouls, while the effect on penalty fouls is apparent after a 12 week adjustment period. Punishment intensifies the deterrence effect as punished players commit even fewer fouls than unpunished players. Moreover, the deterrence effect persists outside of the surveillance environment, i.e., there is a spillover effect on international competitions. I show that players from countries with VAR commit fewer fouls in international competitions than other players.
Keywords:
Becker model; video assistant referee; deterrence
Fulltext is available at external website.
Compliance behavior under surveillance: introduction of the video assistant referee to European football
This paper analyzes the effect of introducing the Video Assistant Referee (VAR) to European football. First, the setting allows for decomposition of the deterrence and monitoring effects in Becker’s ...
For God, Tsar and Fatherland? The political influence of Church
Travova, Ekaterina
2022 - English
This paper investigates the influence of the Orthodox Church network in Post-Soviet Russia on individual political preferences and election results. I use the numbers of monks and nuns from Orthodox monasteries operated in the Russian Empire before the Revolution as historical religious markers to construct a Bartik-style instrument (1991). I find that a denser Church network increases the average local approval rating for the current president and the share of votes cast for the government candidate in presidential elections. Further analysis of mechanisms shows that, today, the extending Church network is increasingly less able to attract people to attend church and to substantially increase the share of practicing believers. However, it does affect the political preferences of those who, regardless of their faith in God, self-identify as Orthodox. The potential channel for persuasion is media.
Keywords:
Orthodoxy; Church; approval
Fulltext is available at external website.
For God, Tsar and Fatherland? The political influence of Church
This paper investigates the influence of the Orthodox Church network in Post-Soviet Russia on individual political preferences and election results. I use the numbers of monks and nuns from Orthodox ...
Violent conflicts and child gender preferences of parents: evidence from Nigeria
Sargsyan, Ella
2022 - English
Identifying the impacts of conflicts and understanding the origins of gender gaps are both seemingly unrelated but crucial questions in the literature. Focusing on the gap at the intersection of these two branches of literature, this study explores whether and how longrun exposure to violent conflicts contributes to and shapes the child gender preferences of parents. I use temporal and spatial variations in conflicts in Nigeria and combine the Uppsala Conflict Data Program and the Demographic and Health Surveys Program to perform the analysis. The results show that the effect of long-run exposure to violent conflicts on stated preferences (attitudes) for boys is not homogeneous. While conflict events with low or no civilian death increase preferences for sons, violence targeted at civilians works in the opposite direction and decreases preferences for boys. I find no evidence of translating these preferences into behaviour via sex-selective abortions. Instead, evidence shows that parents use the stopping rule to achieve the desired gender composition of children. Further, analysis also indicates that, in the districts affected by conflict, parents have a positive bias towards boys in terms of their postnatal health investment.
Keywords:
gender preferences; son preference; violent conflicts
Fulltext is available at external website.
Violent conflicts and child gender preferences of parents: evidence from Nigeria
Identifying the impacts of conflicts and understanding the origins of gender gaps are both seemingly unrelated but crucial questions in the literature. Focusing on the gap at the intersection of these ...
Access to financial resources and environmental migration of the poor
Rakhmetova, Aizhamal; Hoffmann, R.; Pytliková, Mariola
2022 - English
Despite an increasing number of studies, there is no scientific consensus on the extent and conditions under which environmental factors influence migration. In particular, little is known about the role played by financial resources that may facilitate or hinder migration under environmental stress. Empirical evidence shows that some households migrate in response to environmental hazards while others remain in place, potentially being trapped due to lack of resources, i.e. poverty constraints. However, little is known about how access to financial resources influences the decision of a household to stay or migrate. On one hand, financial resources can help to alleviate poverty constraints and to cover migration costs, thereby increasing migration (climate-driver mechanism), on the other hand, financial resources can also improve the adaptation capacities of households at the place they reside, and thus reduce migration responses to environmental changes (climate-inhibitor mechanism). To shed light on households’ migration decisions in response to climate shocks depending on their access to financial resources, we utilize rich micro-data from Indonesia and exploit two sources of variation in climate and cash transfers. Our results suggest that better access to financial resources facilitates the climate-inhibitor mechanism for short-term rainfall shocks and natural disasters. At the same time, better accessibility to financial resources enhances the climate-driver mechanism for accumulated rainfall shocks and temperature anomalies.
Keywords:
climate change; migration; financial resources
Fulltext is available at external website.
Access to financial resources and environmental migration of the poor
Despite an increasing number of studies, there is no scientific consensus on the extent and conditions under which environmental factors influence migration. In particular, little is known about the ...
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