J. Percy Baumberger

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We show that controlling for subject of degree explains a significant part of the male/female gender wage differential amongst graduates. Using data from the labour force surveys of the United Kingdom and Germany, we find similar results in these two countries: subject of degree explains about 2-4 percent higher wages of male over female graduates after(More)
We study the role of reciprocity in a labor market field experiment. In a recent paper, Gneezy and List (2006) investigate the impact of gift exchange in this context and find that it has only a transient effect on long run outcomes. Extending their work to examine both positive and negative reciprocity, we find consonant evidence in the positive(More)
(Vienna) are acknowledged. I am grateful for financial support by the Zaugg foundation for basic research under project no. B11162107. I also thank the people at the Department of Economics at the London School of Economics for their hospitality. Abstract Moral considerations may matter much in voting because the costs of expressing support for a morally(More)
(Public Choice Society) for helpful comments. We are grateful for financial support by the GFF-foundation for basic research under project no. G02110108 as well as by the Deutsche Forschungsgemeinschaft (DFG). Abstract We experimentally investigate how firms and consumers react to a sudden cost increase in a competitive retail market. We compare two(More)
This paper discusses the role of public policy towards the venture capital industry. The model emphasizes four margins: supply of entrepreneurs due to career choice, entry of venture capital funds and search for investment opportunities, simultaneous entrepre-neurial effort and managerial advice subject to double moral hazard, and markup pricing when the(More)
Switzerland, traditionally a 'zero unemployment' economy, has seen an unprecedented rise in joblessness in the 1990s although unemployment fell again to a rather low level after 1997. This paper tests whether Switzerland experienced a negative relative net demand shock against the low skilled (like the US) during this period. It turns out that only workers(More)
1 We thank the sales force manager and the five sales representatives who made this experiment possible. We are grateful to Therese Faessler for her able linguistic support. Abstract A substantive amount of lab experimental evidence suggests that the norm of reciprocity has important economic consequences. However, it is unclear whether the norm of(More)
1 The authors are grateful for financial support by the Zaugg Foundation under Project No. B11162107. We thank Simon Gächter, Lorenz Götte, as well as all participants at the ESA conference (New York) for their helpful comments. Abstract The three-door problem is an astounding example of a systematic violation of a key rationality postulate. In this(More)
This paper studies the term structure implications of a simple structural economy in which the representative agent displays ambiguity aversion, modeled by Multiple Priors Recursive Utility. Bond excess returns reflect a premium for ambiguity, which is observationally distinct from the risk premium of affine yield curve models. The ambiguity premium can be(More)
We thank seminar participants at the University of St. Gallen for helpful comments. Abstract: Easley / Kiefer / O'Hara / Paperman (1996) (EKOP) have proposed an empirical methodology that allows to estimate the probability of informed trading and that has subsequently been used to address a wide range of issues in market microstructure. The data needed for(More)