Bruno S. Frey, Paolo Pamini, Lasse Steiner. What Determines the World Heritage List? An Econometric Analysis

The official intention of the UNESCO World Heritage List is to protect the global heritage. However, the existing List is highly imbalanced according to countries and continents. Historical reasons, such as historical GDP, population, and number of years of high civilization, have a significant impact on being included on the List. In addition, economic and political factors unrelated to the value of heritage, such as rent seeking by bureaucrats and politicians, the size of the tourist sector, t...

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Kevin E Staub, Rainer Winkelmann. Consistent estimation of zero-inflated count models

The so-called problem of “excess zeros” plagues a majority of count data applications in health economics and other social sciences: The proportion of observations with zero counts in the sample is often much larger than that predicted by standard count models. By far the most popular explanation for the high proportion of zeros is that in addition to the standard count data process a second process produces extra zeros. For instance, consider the demand for health services as measured by the ...

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Alois Kneip, Monika Merz, Lidia Storjohann. Aggregation and Labor Supply Elasticities

The aggregate Frisch elasticity of labor supply has been at center stage in modern business cycle analysis for many years. It was rst introduced into the literature by Ragnar Frisch and continues to be of interest from a theoretical as well as from an empirical perspective. At any point in time, it measures the reaction of total hours worked to a small change in the mean wage when wealth is held constant. The exact size of this particular elasticity matters a lot when macroeconomists try to a...

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Frédéric Schneider, Roberto A. Weber. Long-Term Commitment and Cooperation

We study how the willingness to enter long-term bilateral relationships affects cooperation even when parties have little information about each other, ex ante, and cooperation is otherwise unenforceable. We experimentally investigate a finitely-repeated Prisoner’s Dilemma, allowing players to endogenously select interaction durations. Consistent with prior research, longer interactions facilitate cooperation. However, many individuals avoid long-term commitment, with uncooperative types less ...

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Geroski, P.A., Mazzucato, M. Modelling the dynamics of industry populations. International Journal of Industrial Organization.

This paper examines four models which might be used to account for variations in the number of producers who operate in a particular market over the lifetime of that market. Two of these are standard economics textbook models, one is a non-standard model and one is a textbook model derived from the literature on organizational ecology. The four models have several observable differences and this opens up the possibility of testing any one against the others. We apply these four models to 93 ye...

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Hazel Henderson. Development Beyond Economism: Local Paths to Sustainable Development.

The effects of the forces of industrialism and economism, foretold so well by E. F. Schumacher, have led to a revolution of unprecedented scope. Technologies and human activities now bring about major changes in the global atmosphere and ozone layer, create deserts, pollute ground water and oceans, and accumulate garbage in space. Industrialism’s powerful promise of development, modernization, and economic growth has fueled rising expectations worldwide; however, today’s guiding philosophy o...

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