Private transfers with incomplete information: A contribution to the “altruism-exchange motivation for transfers” debate

We examine the role of altruism in determining optimal transfers from a principal (a mother) to selfish agents (her children) in return for attention services. Transfer-attention contracts are studied in a setting in which informational asymmetries arise from the inability of a parent to determine the extent of her children's selfishness. We find a predominating exchange motive for transfers in the symmetric informational regime we study. However, both altruism and exchange are important motives under asymmetric information. We show that altruism facilitates transfer-attention exchange arrangements with certain trade partners under incomplete information, but diminishes trade with others. Received: 19 November 2000/Accepted: 17 May 2001 The paper was written while Edward Seiler was a fellow at the department of Agricultural Economics and Management at the Hebrew University. The authors wish to thank Elad Aharoni for research assistance, and Judith Rivlin, Yacov Tsur, two anonymous referees and seminar participants at the Hebrew University for helpful comments. Responsible editor: Alessandro Cigno.     

GROUP INEQUALITY

We explore the combined effect of segregation in social networks, peer effects, and the relative size of a historically disadvantaged group on the incentives to invest in market‐rewarded skills and the dynamics of inequality between social groups. We identify conditions under which group inequality will persist in the absence of differences in ability, credit constraints, or labor market discrimination. Under these conditions, group inequality may be amplified even if initial group differences are negligible. Increases in social integration may destabilize an unequal state and make group equality possible, but the distributional and human capital effects of this depend on the demographic composition of the population. When the size of the initially disadvantaged group is sufficiently small, integration can lower the long‐run costs of human capital investment in both groups and result in an increase the aggregate skill share. In contrast, when the initially disadvantaged group is large, integration can induce a fall in the aggregate skill share as the costs of human capital investment rise in both groups. We consider applications to concrete cases and policy implications.     

SALES AND COLLUSION IN A MARKET WITH STORAGE

Sales are a widespread and well‐known phenomenon documented in several product markets. This paper presents a novel rationale for sales that does not rely on consumer heterogeneity, or on any form of randomness to explain such periodic price fluctuations. The analysis is carried out in the context of a simple repeated price competition model, and establishes that firms must periodically reduce prices in order to sustain collusion when goods are storable and the market is large. The largest equilibrium profits are characterized at any market size. A trade‐off between the size of the industry and its profits arises. Sales foster collusion, by magnifying the inter‐temporal links in consumers' decisions.     

Trust games: A meta-analysis

We collect data from 162 replications of the Berg, Dickhaut, and McCabe Investment game (the “trust” game) involving more than 23,000 participants. We conduct a meta-analysis of these games in order to identify the effect of experimental protocols and geographic variation on this popular behavioral measure of trust and trustworthiness. Our findings indicate that the amount sent in the game is significantly affected by whether payment is random, and whether play is with a simulated counterpart. Trustworthiness is significantly affected by the amount by which the experimenter multiplies the amount sent, whether subjects play both roles in the experiment, and whether the subjects are students. We find robust evidence that subjects send less in trust games conducted in Africa than those in North America.     

Social norms, inequality and child labor

This paper theoretically analyzes a situation wherein adults’ decisions on child labor are affected not only by materialistic utility but also by a social norm against child labor. The adult thus faces a tradeoff; on the one hand, household income rises if she sends her child to work. On the other hand, the adult suffers disutility from violating the social norm in so doing. We also suppose that the extent of disutility falls as more other adults have their children work. We then explore how the total amount of child labor in an economy changes as adults’ labor efficiencies rise or become more unequal. Our analysis reveals that a more equal distribution or rises in adults’ labor efficiency help decrease child labor only under certain conditions.     

Mapping social and environmental concerns and the acceptability of genetically modified organisms in the European Union

Simultaneous conflicting attitudes towards an object make both predicting and explaining behaviour a complex endeavour. This paper explores the hypothesis of social ambivalence (so called as well or approach-avoidance conflict) as a phenomenon influencing attitudes towards the environmental effects of the introduction of GMOs (Genetic Modified Organisms). If social ambivalence exists it would be suggestive of an interplay between rational models or behaviour and normative or moral models of behaviour. This paper provides some quantitative analysis based on a representative sample of the European Union, using unique data from the Eurobarometer 58.0 (2002) examining public perceptions of environmental risks. Our findings suggest that GMOs are perceived as having a non-neutral impact on the environmental and social life and that as hypothesized there is evidence of social ambivalence, which appears to be more significant when environmental effects of GM foods are taken into account. Consistently with the hypothesis of interplay between rational and normative models of behaviour, respondents perceive some risks while benefits are not perceived by the public and moral concerns regarding technologies being developed by international corporations are important. A specific type of social ambivalence is found, namely GMO are not accepted for Europeans but they are in less developed countries.     

A BAYESIAN INTERPRETATION OF MULTIPLE POINT ESTIMATES

Consider a large number of econometric investigations using different estimation techniques and/or different subsets of all available data to estimate a fixed set of parameters. The resulting empirical distribution of point estimates can be shown - under suitable conditions - to coincide with a Bayesian posterior measure on the parameter space induced by a minimum information procedure. This Bayesian interpretation makes it easier to combine the results of various empirical exercises for statistical decision making. The collection of estimators may be generated by one investigator to ensure the satisfaction of our conditions, or they may be collected from published works, where behavioral assumptions need to be made regarding the dependence structure of econometric studies.     

硬盘分区信息链表中任一结点信息的完全恢复算法初探

通过对分区链表中结点信息的研究,及前后结点中相关数据项比较之后,参照磁盘基数表中所记录相应分区长度,给出了其中任一结点或整个分区链表丢失之后的修复算法.     

All that glitters is not gold: Do movie quality and contents influence box-office revenues in China?

Economic policy reform that started in China in early 1980s also affected its movie industry. Like other sectors, movie industry is also not fully liberalized. The industry is required to ensure that movie contents are consistent with core socialist and cultural values and locally produced movies are also financially viable. However, cultural and politically motivated regulation can adversely affect box-office revenues. Using a recently available dataset, which covers the period of 2009–2018, we investigate the box-office performance of Chinese domestic movies. We start by examining the role of movie quality signals (such as star power, internet media evaluation and industry recognition) in our empirical analysis of the relationship between family-friendly content of movies and box-office revenues. We then match the movie contents with its financial performance records. Our novel approach reveals that the explicit sex and profanity in movies have a negative and statistically significant impact on box-office revenues, which confirms the role of cultural values in financial success of motion pictures in China. However, in the case of large-budget movies involving celebrity superstars, the violent and gore (graphic violence) content attracts viewers and hence the box-office revenue increases. Our work highlights the contradictory nature of China’s movie industry policy, which binds the industry to strict cultural and politically motivated regulation while insisting on financial success.     

宪法第十三条修改的意义

宪法第十三条的修改,提升了保护公民合法私有财产的法律地位,突出了权利,也强调了义务,有利于鼓励多种成分经济的发展,有利于保障公民基本权利的实现,有利于推进依法治国,有利于生产力的解放和发展,有利于推进现代产权制度建设。