Harrie A. A. Verbon

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We examine an experimental gift exchange game in which the players can improve upon the unique no-gifts equilibrium through cooperative gift giving. The main feature of the study is that there are two different types of gift exchange, which we call simple and complex exchange, respectively. Complex exchange gives higher payoffs than simple exchange but it(More)
Recent theoretical work shows that folk theorems can be developed for infinite overlapping generations games. Cooperation in such games can be sustained as a Nash equilibrium. Besides the efficient cooperative equilibrium there is also the inefficient non-cooperative equilibrium. This paper investigates experimentally whether cooperation actually occurs in(More)
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"In this paper decision making on public pensions in a representative democracy is modeled within the framework of the well-known two-overlapping-generations (OLG) general-equilibrium model with rational expectations. The model is used to analyze the effects of aging on the economy in general and on the evolution of public pension schemes in particular,(More)
A 47-year-old man was registered for treatment of his alcohol abuse problem. Disulfiram was administered as part of the treatment, the intake of which was supervised by his wife. During the treatment with disulfiram and two weeks after the withdrawal of this treatment he developed a psychosis. He stated that he had not taken alcohol. During the second(More)
In the standard setting a system of tradable permits is effective and cost-efficient in attaining the policy objective of pollution reduction. This outcome is challenged in case of a tradable permit system in a federal system/constitution with individual states having discretionary power regarding environmental policy and where pollution is transboundary(More)
This paper analyses the e¤ects of reducing unfunded social security and population ageing on economic growth and welfare, both for a small open economy and for a closed economy. The economy consists of a service sector and a commodity sector. Productivity growth only occurs in the latter sector and is assumed to depend positively on its size. It is shown(More)
We present an overlapping generations model with two families who can guarantee old age support either by intra-family transfers from child to parent or via a tax-…nanced public pension system encompassing both families. We derive the individually and family-speci…c optimal decisions and present some more behavior-istic hypotheses. Our experimental(More)