We experimentally investigate how impartial observers allocate money to agents whose complementarity and substitutability determine the surplus that each group can achieve. Analyzing data through lens of axioms solutions from cooperative game theory, a one-parameter model (mixing equal split Shapley value) arises as parsimonious description data. (JEL C71, C91, D12, D63)

The position of singular lines for orthorhombic (ORT) media with fixed diagonal elements the elasticity matrix cij, i=1…6 is studied under condition that c11, c22, c33>c66>c44>c55. In this case, off-diagonal coefficients c12, c13, c23 are chosen so some values d12=c12+c66, d13=c13+c55, d23=c23+c44 zero. For medium, where only one d12, d13, d23 zero, contains points in planes symmetry. ...

1Department of Surgical and Morphological Sciences, University of Insubria, via J.H. Dunant 5, 21100 Varese, Italy 2Department of Biomaterials, Radboud University Medical Center Nijmegen, 6500 HB Nijmegen, The Netherlands 3Polymer Chemistry and Biomaterials (PBM) Group, Department of Organic Chemistry, Ghent University, Krijgslaan 281 S4, 9000 Ghent, Belgium 4Gene Therapy Laboratory, Liver Unit...

We provide a critique of the methods that have been used to derive measures of income risk and draw attention to the importance of demographic factors as a source of income risk. We also propose new measures of the contribution to total income risk of demographic and labour market factors. Empirical evidence supporting our arguments is provided using data from the British Household Survey. JEL ...

This review paper provides an overview of the application of behavioral public economics to energy efficiency. I document policymakers’ arguments for “paternalistic” energy efficiency policies, formalize with a simple model of misoptimizing consumers, review and critique empirical evidence, and suggest future research directions. While empirical results suggest that policies to address imperfec...

We use a money pump argument to measure deviations from the revealed preference axioms. Using a panel data set of food expenditures, we find a large number of violations of the weak axiom of revealed preference. The money pump costs are small, which indicate that the violations of revealed preference are not severe. While most households’ behavior deviates from rationality, by our measure they ...

We conduct a proper test of the claim that people are overcon…dent, in the sense that they believe that they are better than others. The results of the experiment we present do not allow us to reject the hypotheses that the data has been generated by perfectly rational, unbiased, and appropriately con…dent agents. Keywords: Overcon…dence; Better than Average; Experimental Economics; Irrationali...

This paper shows that smoking intensity, i.e. the amount of nicotine extracted per cigarette smoked, responds to changes in excise taxes and tobacco prices. We exploit data covering the period 1988 to 2006 across many US states. Moreover, we provide new evidence on the importance of cotinine measures in explaining long-run smoking behaviour and we investigate the sensitivity of smoking cessatio...