Browse Titles - 19 results
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Can We Distribute Goods Efficiently Without Property Rights?
(Hamburg, Hamburg State: Latest Thinking, 2017), 15 mins
Even in the absence of absolute property rights, ex-post bargaining may lead to efficient distribution of goods, CHRISTOPH ENGEL explains in this video. The findings of this research thus extend the domain of the Coase theorem. In the experiment, with a society of two individuals and a single commodity, a good end...
Open Access
(Hamburg, Hamburg State: Latest Thinking, 2017), 15 mins
Description
Even in the absence of absolute property rights, ex-post bargaining may lead to efficient distribution of goods, CHRISTOPH ENGEL explains in this video. The findings of this research thus extend the domain of the Coase theorem. In the experiment, with a society of two individuals and a single commodity, a good ends up with the individual who values it most even if only relative property rights – i.e., rights only against other parties to a cont...
Even in the absence of absolute property rights, ex-post bargaining may lead to efficient distribution of goods, CHRISTOPH ENGEL explains in this video. The findings of this research thus extend the domain of the Coase theorem. In the experiment, with a society of two individuals and a single commodity, a good ends up with the individual who values it most even if only relative property rights – i.e., rights only against other parties to a contract – are provided.
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Field of Study
Business & Economics
Content Type
Instructional material
Date Published / Released
2017
Publisher
Latest Thinking
Speaker / Narrator
Christoph Engel, fl. 1988
Person Discussed
Christoph Engel, fl. 1988
Topic / Theme
Commercial products, Economics, Property rights
Copyright Message
Copyright © 2017 Latest Thinking
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Can We Maintain Normative Individualism when Allowing for Preferences to Be Adaptive?
produced by Latest Thinking (Hamburg, Hamburg State: Latest Thinking, 2017), 13 mins
Departing from the standard model of economics with the assumption that humans have fixed preferences, or tastes, more recent behavioral insights show that preferences are influenced by past consumption in a way that the status quo is often valued higher than alternatives. CARL CHRISTIAN VON WEIZSÄCKER adds this...
Open Access
produced by Latest Thinking (Hamburg, Hamburg State: Latest Thinking, 2017), 13 mins
Description
Departing from the standard model of economics with the assumption that humans have fixed preferences, or tastes, more recent behavioral insights show that preferences are influenced by past consumption in a way that the status quo is often valued higher than alternatives. CARL CHRISTIAN VON WEIZSÄCKER adds this “adaptiveness” to the standard model of preferences and shows that this still allows performing standard welfare analysis. In showi...
Departing from the standard model of economics with the assumption that humans have fixed preferences, or tastes, more recent behavioral insights show that preferences are influenced by past consumption in a way that the status quo is often valued higher than alternatives. CARL CHRISTIAN VON WEIZSÄCKER adds this “adaptiveness” to the standard model of preferences and shows that this still allows performing standard welfare analysis. In showing that improvement paths are always non-circular, the altered model even delivers a foundation to do behavioral welfare economics.
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Field of Study
Business & Economics
Content Type
Instructional material
Contributor
Latest Thinking
Date Published / Released
2017
Publisher
Latest Thinking
Speaker / Narrator
Carl Christian von Weizsäcker, 1938-
Person Discussed
Carl Christian von Weizsäcker, 1938-
Topic / Theme
Economic indicators, Economics
Copyright Message
Copyright © 2017 Latest Thinking
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Do People Choose Optimal Health Insurance Plans?
(Hamburg, Hamburg State: Latest Thinking, 2017), 14 mins
The health insurance market is driven by the individual choices consumers make on their insurance plans. The research presented in this video explores the questions of how consumers choose these plans, whether they are able to pick the plan most suited to their situation and whether they switch to another and bett...
Open Access
(Hamburg, Hamburg State: Latest Thinking, 2017), 14 mins
Description
The health insurance market is driven by the individual choices consumers make on their insurance plans. The research presented in this video explores the questions of how consumers choose these plans, whether they are able to pick the plan most suited to their situation and whether they switch to another and better health insurance plan when they have the opportunity to do so. JOACHIM WINTER explains that, after running statistical analyses and...
The health insurance market is driven by the individual choices consumers make on their insurance plans. The research presented in this video explores the questions of how consumers choose these plans, whether they are able to pick the plan most suited to their situation and whether they switch to another and better health insurance plan when they have the opportunity to do so. JOACHIM WINTER explains that, after running statistical analyses and conducting experimental surveys, his research group found that consumers do not tend to pick ideal plans because often they focus too much on price and not so much on other cost-influencing factors. The researchers also discovered that switching rates to other plans are very low. These findings have implications for behavioral economics as well since they more generally offer valuable data on consumers’ choice behavior.
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Field of Study
Business & Economics
Content Type
Instructional material
Contributor
Joachim Winter
Date Published / Released
2017
Publisher
Latest Thinking
Topic / Theme
Health insurance industry, Economics
Copyright Message
Copyright © 2017 Latest Thinking
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How Can Economics Help Us Explain Parenting?
(Germany: Latest Thinking, 2018), 10 mins
The choices that we make as parents are among the most important that we make in our lifetimes: whether to have children, how many children to have, what form of education should we provide. In this video, MATTHIAS DOEPKE explains how the economic method can help us to understand the choices that parents make. Eco...
Open Access
(Germany: Latest Thinking, 2018), 10 mins
Description
The choices that we make as parents are among the most important that we make in our lifetimes: whether to have children, how many children to have, what form of education should we provide. In this video, MATTHIAS DOEPKE explains how the economic method can help us to understand the choices that parents make. Economic factors clearly constrain parental choice and, drawing on the concept of parenting style developed in psychology, the research de...
The choices that we make as parents are among the most important that we make in our lifetimes: whether to have children, how many children to have, what form of education should we provide. In this video, MATTHIAS DOEPKE explains how the economic method can help us to understand the choices that parents make. Economic factors clearly constrain parental choice and, drawing on the concept of parenting style developed in psychology, the research demonstrates a striking degree of alignment between different parenting styles and the degree of economic inequality in a society. Doepke’s work on the economics of parenting is highly relevant not only to how we might improve social mobility but also to the design of education systems and labor markets.
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Field of Study
Business & Economics
Content Type
Instructional material
Date Published / Released
2018
Publisher
Latest Thinking
Speaker / Narrator
Matthias Doepke, fl. 2006
Person Discussed
Matthias Doepke, fl. 2006
Topic / Theme
Educational systems, Class mobility, Economic discrimination, Economic development, Parenting, Parents
Copyright Message
Copyright © 2018 Latest Thinking
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How Does Gender Inequality Affect a Country’s Economic Performance?
(Latest Thinking, 2018), 9 mins
Public policy discussions have tended to assume that reducing gender inequality in areas including education, labor force participation and pay will automatically lead to improved economic performance. In this video, STEPHAN KLASEN reviews existing economics research in order to determine whether this assumption i...
Open Access
(Latest Thinking, 2018), 9 mins
Description
Public policy discussions have tended to assume that reducing gender inequality in areas including education, labor force participation and pay will automatically lead to improved economic performance. In this video, STEPHAN KLASEN reviews existing economics research in order to determine whether this assumption is robust. Examining theoretical models, accounting studies, cross-country regressions, and micro-level studies, Klasen finds that while...
Public policy discussions have tended to assume that reducing gender inequality in areas including education, labor force participation and pay will automatically lead to improved economic performance. In this video, STEPHAN KLASEN reviews existing economics research in order to determine whether this assumption is robust. Examining theoretical models, accounting studies, cross-country regressions, and micro-level studies, Klasen finds that while reducing gender gaps in education clearly has a positive impact on a country’s economic performance, much more work is required before we have a reliable understanding of the economic impact of reductions in other forms of gender inequality. With evident relevance to public policy debates, Klasen’s work draws attention to a considerable gap in knowledge that should occupy researchers for many years to come.
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Field of Study
Business & Economics
Content Type
Instructional material
Contributor
Stephan Johannes Klasen, 1966-2020
Date Published / Released
2018
Publisher
Latest Thinking
Speaker / Narrator
Stephan Johannes Klasen, 1966-2020
Person Discussed
Stephan Johannes Klasen, 1966-2020
Topic / Theme
Economic conditions, Gender relations
Copyright Message
Copyright © 2018 Latest Thinking
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How is Economic Change Influenced by Innovations?
(Hamburg, Hamburg State: Latest Thinking, 2017), 14 mins
Innovation can be both creative and destructive. It creates new patterns of social and economic life, while at the same time destroying or reforming existing ones. That means that innovations are the product of a given economic system and at the same time change the system they are part of. As UWE CANTNER points o...
Open Access
(Hamburg, Hamburg State: Latest Thinking, 2017), 14 mins
Description
Innovation can be both creative and destructive. It creates new patterns of social and economic life, while at the same time destroying or reforming existing ones. That means that innovations are the product of a given economic system and at the same time change the system they are part of. As UWE CANTNER points out in this video, the economics of innovation and change is shaped by different actors, which influence each other and together contrib...
Innovation can be both creative and destructive. It creates new patterns of social and economic life, while at the same time destroying or reforming existing ones. That means that innovations are the product of a given economic system and at the same time change the system they are part of. As UWE CANTNER points out in this video, the economics of innovation and change is shaped by different actors, which influence each other and together contribute to overall structural change. Research thus far has been unable to explain this structural change theoretically and provide empirical evidence. But by combining different theoretical lines of thinking an economic pattern that responds to economic reality can be drawn up.
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Field of Study
Business & Economics
Content Type
Instructional material
Date Published / Released
2017
Publisher
Latest Thinking
Speaker / Narrator
Uwe Cantner, 1960-
Person Discussed
Uwe Cantner, 1960-
Topic / Theme
Economic systems, Economic empowerment
Copyright Message
Copyright © 2017 Latest Thinking
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Is Random Decision Making a Viable Solution for Replacing or Complementing Contemporary Selection and Election Processes?
produced by Latest Thinking (Hamburg, Hamburg State: Latest Thinking, 2017), 11 mins
Throughout history sortition was often used as an election mechanism for public executive functions. Political systems such as Ancient Athens or Venice during the middle ages elected some of the executive positions by drawing lots. In the research presented in this video BRUNO S. FREY compares those methods with a...
Open Access
produced by Latest Thinking (Hamburg, Hamburg State: Latest Thinking, 2017), 11 mins
Description
Throughout history sortition was often used as an election mechanism for public executive functions. Political systems such as Ancient Athens or Venice during the middle ages elected some of the executive positions by drawing lots. In the research presented in this video BRUNO S. FREY compares those methods with actual processes such as political elections or market decisions in order to investigate the advantages and disadvantages of this model....
Throughout history sortition was often used as an election mechanism for public executive functions. Political systems such as Ancient Athens or Venice during the middle ages elected some of the executive positions by drawing lots. In the research presented in this video BRUNO S. FREY compares those methods with actual processes such as political elections or market decisions in order to investigate the advantages and disadvantages of this model. It shows that random mechanisms lead to more representative outcomes than elections and are effective in counteracting corruption.
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Field of Study
Business & Economics
Content Type
Instructional material
Contributor
Latest Thinking
Date Published / Released
2017
Publisher
Latest Thinking
Speaker / Narrator
Bruno S. Frey, 1941-
Person Discussed
Bruno S. Frey, 1941-
Topic / Theme
Political corruption, Decision making, Elections
Copyright Message
Copyright © 2017 Latest Thinking
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Is There a Relationship Between Anti-Trust Law, Economic Growth, and Democratic Development?
(Germany: Latest Thinking, 2017), 10 mins
By means of a panel data analysis presented in this interview, NIELS PETERSEN explores the relation between anti-trust institutions, the level of democracy, and economic development. Panel data from 154 states dating from 1960 to 2005 cannot substantiate a positive relation between the existence of anti-trust law...
Open Access
(Germany: Latest Thinking, 2017), 10 mins
Description
By means of a panel data analysis presented in this interview, NIELS PETERSEN explores the relation between anti-trust institutions, the level of democracy, and economic development. Panel data from 154 states dating from 1960 to 2005 cannot substantiate a positive relation between the existence of anti-trust law and democratic development; the empirical findings even suggest that there is only a weak link between anti-trust law and economic grow...
By means of a panel data analysis presented in this interview, NIELS PETERSEN explores the relation between anti-trust institutions, the level of democracy, and economic development. Panel data from 154 states dating from 1960 to 2005 cannot substantiate a positive relation between the existence of anti-trust law and democratic development; the empirical findings even suggest that there is only a weak link between anti-trust law and economic growth.
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Field of Study
Business & Economics
Content Type
Instructional material
Date Published / Released
2017
Publisher
Latest Thinking
Speaker / Narrator
Niels Petersen, fl. 2004
Person Discussed
Niels Petersen, fl. 2004
Topic / Theme
Democracy, Economic development, Economic policy, Economic, social and cultural rights
Copyright Message
Copyright © 2017 Latest Thinking
×
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The "Real" Tragedy of the Commons: Can a Dual Currency System Achieve a Pareto-superior Equilibrium?
(Germany: Latest Thinking, 2018), 16 mins
Global common public goods (like quality education, clean energy and gender equality) formed the basis of the 17 Sustainable Development Goals (SDGs) agreed by world leaders in New York in 2015. In this video, noting that proposed levels of investment in SDGs are grossly insufficient, STEFAN BRUNNHUBER argues that...
Open Access
The "Real" Tragedy of the Commons: Can a Dual Currency System Achieve a Pareto-superior Equilibrium?
(Germany: Latest Thinking, 2018), 16 mins
Description
Global common public goods (like quality education, clean energy and gender equality) formed the basis of the 17 Sustainable Development Goals (SDGs) agreed by world leaders in New York in 2015. In this video, noting that proposed levels of investment in SDGs are grossly insufficient, STEFAN BRUNNHUBER argues that a redesign of our monetary system would make realization of the SDGs more likely. Analyzing the ways in which prevailing models lock u...
Global common public goods (like quality education, clean energy and gender equality) formed the basis of the 17 Sustainable Development Goals (SDGs) agreed by world leaders in New York in 2015. In this video, noting that proposed levels of investment in SDGs are grossly insufficient, STEFAN BRUNNHUBER argues that a redesign of our monetary system would make realization of the SDGs more likely. Analyzing the ways in which prevailing models lock us in to inefficiency, Brunnhuber proposes a redesign of the monetary system whereby a dual currency operating on fourth generation distributive ledger technology would operate in parallel to the existing regime. With much greater potential to recognize the actual worth of common goods, the new system would not only bring economic benefits but would allow us to live in a more sustainable, more peaceful and a fairer world.
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Field of Study
Business & Economics
Content Type
Instructional material
Date Published / Released
2018
Publisher
Latest Thinking
Speaker / Narrator
Stefan Brunnhuber, 1962-
Person Discussed
Stefan Brunnhuber, 1962-
Topic / Theme
Consumer products, International economic conditions, Economic conditions, Monetary policy
Copyright Message
Copyright © 2018 Latest Thinking
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Should Governments Apply a Correction for the Cost of Taxation in Social Cost Benefit Analysis?
(Germany: Latest Thinking, 2018), 10 mins
Distortionary costs of taxation refer to things like individuals’ reluctance to work or invest more as a result of governments raising taxes. In this video, BAS JACOBS considers whether governments should apply a correction for such costs of taxation in social benefit cost analyses. Applying the optimal taxation...
Open Access
(Germany: Latest Thinking, 2018), 10 mins
Description
Distortionary costs of taxation refer to things like individuals’ reluctance to work or invest more as a result of governments raising taxes. In this video, BAS JACOBS considers whether governments should apply a correction for such costs of taxation in social benefit cost analyses. Applying the optimal taxation model, Jacobs notes that the distributional benefits of public investment in projects like bridges or swimming pools are often neglect...
Distortionary costs of taxation refer to things like individuals’ reluctance to work or invest more as a result of governments raising taxes. In this video, BAS JACOBS considers whether governments should apply a correction for such costs of taxation in social benefit cost analyses. Applying the optimal taxation model, Jacobs notes that the distributional benefits of public investment in projects like bridges or swimming pools are often neglected by economists. He argues that there is no need to correct social cost benefits for the distortions of taxation because they are compensated by distributional benefits. Concluding that more public projects would be likely to be approved under this reasoning, Jacobs also makes a persuasive case for its relevance to other branches of public economics.
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Field of Study
Business & Economics
Content Type
Instructional material
Date Published / Released
2018
Publisher
Latest Thinking
Speaker / Narrator
Bas Jacobs, fl. 1999
Person Discussed
Bas Jacobs, fl. 1999
Topic / Theme
Government services, Economic development, Taxation, Financial investments
Copyright Message
Copyright © 2018 Latest Thinking
×
