Scandinavian Journal of Economics
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Do Addicts Behave Rationally? The theory of rational addiction assumes that addicts' behavior is fully rational. Common sense and psychological introspection suggest, however, that addictive behavior is irrational. Without knowledge of the addicts' preferences this dispute cannot be resolved. This paper reports the results of an experiment in which addictive preferences were induced. It turns out that ‘addicts’ consume systematically too much compared to the optimal consumption decision. We explain this systematic excess consumption in terms of the psychologically salient features of addictive goods.
Scandinavian Journal of Economics - Tập 100 Số 3 - Trang 643-661 - 1998
Investment in Education and U.S. Economic Growth
Scandinavian Journal of Economics - Tập 94 - Trang S51 - 1992
Malmquist Indices of Productivity Growth during the Deregulation of Norwegian Banking, 1980-89
Scandinavian Journal of Economics - Tập 94 - Trang S211 - 1992
Environmental Policy under Oligopoly with Endogenous Market Structure
Scandinavian Journal of Economics - Tập 97 Số 3 - Trang 411 - 1995
Information Technology and the World Economy* Abstract This paper addresses the impact of investment in information technology (IT) on the recent resurgence of world economic growth. We describe the growth of the world economy, seven regions and 14 major economies during the period 1989–2003. We allocate the growth of world output between input growth and productivity and find, surprisingly, that input growth greatly predominates! The contributions of IT investment have increased in all regions, but especially in industrialized economies and Developing Asia. Differences in per capita output are explained by differences in per capita input, rather than by variations in productivity.
Scandinavian Journal of Economics - Tập 107 Số 4 - Trang 631-650 - 2005
Is Inflation Always and Everywhere a Monetary Phenomenon?* Abstract Using a sample of about 160 countries over the last 30 years, we test for the quantity theory relationship between money and inflation. When analysing the full sample of countries, we find a strong positive relation between long‐run inflation and the money growth rate. The relation is not proportional, however. The strong link between inflation and money growth is almost wholly due to the presence of high‐(or hyper‐) inflation countries in the sample. The relationship between inflation and money growth for low‐inflation countries (on average less than 10% per annum over the last 30 years) is weak.
Scandinavian Journal of Economics - Tập 107 Số 2 - Trang 239-259 - 2005
Risk Aversion and Trade‐Union Membership* Abstract If trade unions provide only their members with insurance against income variations, as a private good, this insurance will provide a stronger incentive for more risk‐averse employees to become union members. Using data from the German Socio‐Economic Panel (SOEP) and various direct measures of individual risk attitudes, we find robust evidence of a positive relationship between risk aversion and the likelihood of union membership for full‐time employees. This association is particularly strong for males and in West Germany.
Scandinavian Journal of Economics - Tập 114 Số 2 - Trang 275-295 - 2012
Time Perspective in Demand for Money
Scandinavian Journal of Economics - Tập 79 Số 4 - Trang 397 - 1977
Optimal Tax and Public Investment Rules for Congestion Type of Externalities Optimal government policy is considered in a second‐best framework where consumers and producers cause an externality of the congestion type and income distribution issues are taken into account. The theoretical results of the optimal tax literature are adapted using the concept of the net social Pigouvian tax. An illustrative AGE model uncovers the relative importance of its components. The model demonstrates that the level of the externality tax does not depend strongly on distribution concerns, as reoptimization of the other taxes ensures that the income distribution objective is reached. The model also allows us to study the interaction between externality taxes and public abatement.
Scandinavian Journal of Economics - Tập 99 Số 2 - Trang 261-279 - 1997
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