An extensive literature has studied both in the field and in the lab the effects on performance of providing absolute and relative verifiable feedback, finding mixed results. Another branch of the literature has studied the effects of non-verifiable centrally-provided feedback, also with mixed results. But, to the best of our knowledge, no study has explored…
Systematic biases in return expectations may distort stock prices and lead to inefficient capital allocation. In this paper, we report experimental evidence that buying a stock induces optimistically biased expectations when its price drops below the purchase price. We find this effect in a controlled laboratory experiment as well as in a six-week-long online experiment…
Abstract Debit card payments are the cornerstone of the cashless economy. They exemplify the transfer of monetary balances, enabling on-the-spot transactions through online, real-time, electronic networks. While debit cards were an aspiration in the 1960s, it was during the mid-1970s that the first significant attempts were made to make these aspirations a reality in the…
Abstract This paper theoretically explores the role of elites in the rise of progressive taxation in Western countries at the beginning of the XXth century and in its posterior erosion in the last four decades. We focus on its interaction with the level of inequality between the elite and the citizens. We analyse a stylized…
Resumen A lo largo del siglo XIX se produjo en el ´ámbito europeo un considerable aumento de las migraciones exteriores e interiores. Tradicionalmente la historiografía ha considerado que en España los movimientos migratorios permanentes, tanto internos como externos, durante la mayor parte del siglo XIX fueron relativamente débiles en comparación con las de otros países…
Abstract This study seeks to explore the main factors influencing Thai female consumers purchasing behavior and identify the relationship between consumer behavior and sales objectives of Korean Cosmetic brands I. The data was collected in the form of an online questionnaire which was divided into 5 subsections. This was followed by 1) Demographic data 2)…
The increase in the fragmentation of production across countries and the subsequent growth in the trade of intermediate products have raised concerns about the suitability of conventional trade statistics to understand the economic consequences of trade. Several authors have attempted to disentangle value added content of trade. This technical report proposes a novel framework that…
El cómputo exacto de soluciones de juegos cooperativos presenta una alta complejidad computacional cuando el número de jugadores involucrados es lo suficientemente grande. En este sentido, las metodologías de muestreo se presentan como alternativa para su aproximación en general. En esta charla revisaremos algunas de las propuestas en la literatura basadas en muestreo, así como…
Abstract Within the framework of the current global crisis provoked by the COVID-19 pandemic and the hegemonic role of China in the world economy, the revision of China’s socioeconomic and political transformation from imperial Qing dynasty until the present day is paramount. This presentation focuses on a crucial period in the history of China, the…
Most economic applications rely on a large number of time series, which typically have a remarkable clustering structure and they are available over different spans. To handle these databases, we combined the expectation–maximization (EM) algorithm outlined by Stock and Watson (JBES, 2002) and the estimation algorithm for large factor models with an unknown number of…
