if this message does not display correctly, click here | Table of Contents Daniela Di Cagno, LUISS, Rome Arianna Galliera, LUISS Guido Carli University - Department of Economics Werner Güth, LUISS Guido Carli University, Frankfurt School of Finance & Management gemeinnützige GmbH, Max Planck Society for the Advancement of the Sciences - Max Planck Institute for Research on Collective Goods Noemi Pace, Ca Foscari University of Venice - Department of Economics Luca Panaccione, University of Rome, Tor Vergata Tommaso Proietti, University of Rome II - Department of Economics and Finance Eric T. Hillebrand, University of Aarhus - CREATES Leonardo Becchetti, University of Rome, Tor Vergata - Faculty of Economics Pierluigi Conzo, University of Turin - Department of Economics and Statistics, Centre for Studies in Economics and Finance (CSEF) Francesco Salustri, University of Rome, Tor Vergata | |
CEIS: CENTRE FOR ECONOMIC & INTERNATIONAL STUDIES Vincenzo Atella - Director "Experience and Gender Effects in an Acquiring-a-Company Experiment Allowing for Value Messages" CEIS Working Paper No. 346 DANIELA DI CAGNO, LUISS, Rome Email:
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ARIANNA GALLIERA, LUISS Guido Carli University - Department of Economics Email:
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WERNER GÜTH, LUISS Guido Carli University, Frankfurt School of Finance & Management gemeinnützige GmbH, Max Planck Society for the Advancement of the Sciences - Max Planck Institute for Research on Collective Goods Email:
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NOEMI PACE, Ca Foscari University of Venice - Department of Economics Email:
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LUCA PANACCIONE, University of Rome, Tor Vergata Email:
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This paper focuses on a bargaining experiment in which the privately informed seller of a company sends a value message to the uninformed potential buyer who then proposes a price for acquiring the company. Participants are constantly in the role of either seller or buyer and interact over 30 rounds with randomly changing partners in the other role. We test how overstating the value of the company, underpricing the received value message and acceptance of price offers are affected by experience and gender (constellation). Like in our companion paper on single play (Di Cagno et al. 2015) we control via treatments for awareness of gender (constellation). One main hypothesis is that gender (constellation) matters but that the effects become weaker with more experience and that the main experience effects apply across gender (constellations). "Seasonal Changes in Central England Temperatures" CEIS Working Paper No. 347 TOMMASO PROIETTI, University of Rome II - Department of Economics and Finance Email:
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ERIC T. HILLEBRAND, University of Aarhus - CREATES Email:
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The aim of this paper is to assess how climate change is reflected in the variation of the seasonal patterns of the monthly Central England Temperature time series between 1772 and 2013. In particular, we model changes in the amplitude and phase of the seasonal cycle. Starting from the seminal work by Thomson (“The Seasons, Global Temperature and Precession”, Science, 7 April 1995, vol 268, p. 59–68), a number of studies have documented a shift in the phase of the annual cycle implying an earlier onset of the spring season at various European locations. A significant reduction in the amplitude of the seasonal cycle is also documented. The literature so far has concentrated on the measurement of this phenomenon by various methods, among which complex demodulation and wavelet decompositions are prominent. We offer new insight by considering a model that allows for seasonally varying deterministic and stochastic trends, as well as seasonally varying autocorrelation and residual variances. The model can be summarized as containing a permanent and a transitory component, where global warming is captured in the permanent component, on which the seasons load differentially. The phase of the seasonal cycle, on the other hand, seems to follow Earth’s precession in a stable manner, and the reported fluctuations are identified as transitory. "The (W)Health of Nations: The Impact of Health Expenditure on the Number of Chronic Diseases" CEIS Working Paper No. 348 LEONARDO BECCHETTI, University of Rome, Tor Vergata - Faculty of Economics Email:
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PIERLUIGI CONZO, University of Turin - Department of Economics and Statistics, Centre for Studies in Economics and Finance (CSEF) Email:
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FRANCESCO SALUSTRI, University of Rome, Tor Vergata Email:
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We investigate the impact of health expenditure on health outcomes on a large sample of Europeans aged above 50 using individual and regional-level data. We find a significant and negative effect of lagged health expenditure on later changes in the number of chronic diseases. This effect varies according to age, health behavior, gender, income and education, thereby supporting the hypothesis that the impact of health expenditure across different interest groups is heterogeneous. Our empirical findings are confirmed also when health expenditure is instrumented with parliament political composition. | | ^top
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