7 research outputs found
Bargaining in the Absence of Property Rights. An Experiment
The Coase theorem posits that if (1) property rights are perfect, (2) contracts are perfectly enforceable, (3) transaction costs are zero, (4) preferences are common knowledge, and (5) parties are rational, then the initial allocation of entitlements matters only for distribution, not for efficiency. We study, in an experimental setting, whether condition 1 is necessary. Our results suggest that property rights have a limited effect on efficiency
The Hog Cycle of Law Professors. An Econometric Time Series Analysis of the Entry-Level Job Market in Legal Academia
The (German) market for law professors fulfils the conditions for a hog cycle: In the short run, supply cannot be extended or limited; future law professors must be hired soon after they first present themselves, or leave the market; demand is inelastic. Using a comprehensive German dataset, we show that the number of market entries today is negatively correlated with the number of market entries eight years ago. This suggests short-sighted behavior of young scholars at the time when they decide to prepare for the market. Using our statistical model, we make out-of-sample predictions for the German academic market in law until 2020
You Are In Charge. Experimentally Testing the Motivating Power of Holding a (Judicial) Office
Apparently judges' decisions are not motivated by maximizing their own profit. The literature uses two strategies to explain this observation: judges care about the longâterm monetary consequences for themselves, or individuals who are more strongly motivated by the common good selfâselect into the profession. We suggest that there is an additional explanation, the "office motive". In a lab experiment, we rule out both traditional explanations by design. Nonetheless authorities do a reliable job at overcoming a social dilemma. Calling the authorities "public official" or "judge" increases their sensitivity towards the degree by which individuals are selfish, and it reduces the effect of their social value orientation (making them more neutral). This suggests that the socially desirable effect is not driven by anger or sympathy with the victims, but follows from the desire to fulfill the expectations that come with the assigned task. We test three extensions: When given an opportunity to announce an explicit policy, judges become less sensitive to the objective degree of reproach, and more sensitive to their social value orientation. If judges are elected or experienced, they react more intensely to norm violations. Experienced judges are more affected by their social value orientation
People are Conditional Rule Followers
Experimental participants are more likely to follow an arbitrary rule the more of their peers do so as well. The difference between unconditional and conditional rule following is most pronounced for individuals who follow few rules unconditionally
Suppression of charged particle production at large transverse momentum in central PbâPb collisions at âsNN=2.76 TeV
Inclusive transverse momentum spectra of primary charged particles in PbâPb collisions at âsNN=2.76 TeV have been measured by the ALICE Collaboration at the LHC. The data are presented for central and peripheral collisions, corresponding to 0â5% and 70â80% of the hadronic PbâPb cross section. The measured charged particle spectra in |η|<0.8 and 0.3<pT<20 GeV/c are compared to the expectation in pp collisions at the same sNN, scaled by the number of underlying nucleonânucleon collisions. The comparison is expressed in terms of the nuclear modification factor RAA. The result indicates only weak medium effects (RAAâ0.7) in peripheral collisions. In central collisions, RAA reaches a minimum of about 0.14 at pT=6â7 GeV/c and increases significantly at larger pT. The measured suppression of high-pT particles is stronger than that observed at lower collision energies, indicating that a very dense medium is formed in central PbâPb collisions at the LHC
Two-pion BoseâEinstein correlations in central PbâPb collisions at âsNN=2.76 TeV
The first measurement of two-pion BoseâEinstein correlations in central PbâPb collisions at âsNN=2.76 TeV at the Large Hadron Collider is presented. We observe a growing trend with energy now not only for the longitudinal and the outward but also for the sideward pion source radius. The pion homogeneity volume and the decoupling time are significantly larger than those measured at RHIC