Pension Contributions as a Commitment device: evidence of sophistication among time-inconsistent households

Sophisticated agents with self-control problems value commitment devices that constrain future choices. Using Australian household data, I test whether these households value commitment devices in the form of illiquid pension contributions. Applying various probabilistic choice models, the results confirm the conjecture that households with problems of self-control are more likely to invest in illiquid pensions while less likely to hold very liquid forms of assets.commitment device; pensions; intertemporal choice

Pension Contribution as a Commitment Device: Evidence of Sophistication among Time-inconsistent Households

Sophisticated agents with self-control problems value commitment devices that constrain future choices. Using Australian household data I test whether these households value commitment devices in the form of illiquid pension contributions. Applying various probabilistic choice models, the results confirm the conjecture that households with problems of self-control are more likely to invest in illiquid pensions while less likely to hold very liquid forms of assets.

Monitoring Trade Costs in Southeast Asia

This paper develops an Index of Trade Costs for ASEAN Member Countries, 1990-2007 based on the gap between cif and fob values of ASEAN exports to Australia. The cif/fob gap is a commonly used aggregate measure of trade costs, and Australia is a useful benchmark for ASEAN countries because it is a large trading partner whose major ports of entry are roughly equidistant from the ASEAN countries. The case for using this Index as a measure of trade costs is set out in the first section. The second section examines the raw data for the ASEAN countries. The third section reports econometric analysis of the cif/fob measure to better understand why trade costs vary across countries and to compare the ASEAN members' record to the global average during the period 1990-2007. The final section presents the two versions of the Index, discusses some reservations to using the cif/fob measure of trade costs, and suggests how the Index could be upgraded, maintained and extended.Trade costs; ASEAN.

Why Do Trade Costs Vary?

Trade theorists and policymakers have until recently ignored trade costs, but as tariffs have fallen it is apparent that trade costs are a significant obstacle to trade and they are not simply determined by geography or commodity characteristics. We analyse country-by-country variations in trade costs using disaggregated Australian import data. In Australia average trade costs are about 5% of the value of imports, compared to an average tariff of under 4%. Controlling for distance from Australia and the bulkiness of commodities, the paper examines other determinants of international trade costs in terms of exporting country characteristics. Country-specific characteristics which influence the size of trade costs may provide a direct link between institutions and economic growth.

How are Oil Revenues redistributed in an Oil Economy? The case of Kazakhstan

Kazakhstan’s economy has been driven by an oilboom since the discovery of large new oilfields coincided with the upturn of world oil prices after 1998. This paper uses national household expenditure survey data to examine whether Kazakhstan’s experience supports a curse or a blessing outcome. We assess the extent to which the benefits from the oilboom are retained in the oil-producing regions, or spread evenly across the national economy, or are concentrated in the cities where the country’s elite lives. We then analyze the data to determine the transmission mechanisms (higher wages, social transfers or informal income) from the oilboom to household expenditure.resource boom; redistribution

Sélection participative et adaptation locale

The use of organic seeds has been compulsory since 2005 for practicing organic farming. Despite the efforts made by seed companies, applications are not yet fully satisfied in quantity and diversity. Producers of Bio Loire Ocean made the bet to develop a research program on this issue. How to set up and select specific varieties for their territories and production systems? Choice was made to work with varieties populations because of their plasticity and diversity. With the help of INRA SAD, a local participatory breeding work was initiated on many vegetable crops including leading species in the region (carrot, salad) and other species for diversification (parsnips, tomatoes,...). The results are encouraging and the producers wish to pursue and develop specific selection on their farms in order to have organic varieties adapted to their pedoclimatic and socio-economic environments. Like the partnership established with AGROCAMPUS OUEST and the network Carotte et autres Daucus, we wish to promote the genetic diversity of crop varieties and meet the needs of producers and consumers. Our program will grow in the coming years, involving and combining the skills and expertise of researchers, producers and multipliers for an overall, coherent and sustainable organic vegetable seed industry in the region of Pays de Loire

Alternative Dispute Resolution (ADR) Principles : From Negotiation to Mediation

2014-10-30Special Issue on Institution Design for Conflict Resolution and Negotiation : Theory and Praxis (February 1-2, 2014, Nagoya, Japan)departmental bulletin pape

Consumer vulnerability and complaint handling: challenges, opportunities and dispute system design

Effectively designed complaint handling systems play a key role in enabling vulnerable consumers to complain and obtain redress. This article examines current research into consumer vulnerability, highlighting its multidimensional and expansive nature. Contemporary understandings of consumer vulnerability recognize that the interaction between a wide range of market and consumer characteristics can combine to place any individual at risk of vulnerability. While this broad definition of consumer vulnerability reflects the complex reality of consumers’ experiences, it poses a key challenge for designers of complaint handling systems: how can they identify and respond to an issue which can potentially affect everyone? Drawing on current research and practice in the United Kingdom and Australia, the article analyses the impact of consumer vulnerability on third party dispute resolution schemes and considers the role these complaint handling organizations can play in supporting their complainants. Third party complaint handling organizations, including a range of Alternative Dispute Resolution services such as ombudsman organizations, can play a key role in increasing access to justice for vulnerable consumer groups and provide specific assistance for individual complainants during the process. It is an opportune time to review whether the needs of consumers at risk of vulnerability are being met within complaint processes and the extent to which third party complaint handlers support those who are most vulnerable to seek redress. Empowering vulnerable consumers to complain presents specific challenges. The article discusses the application of a new model of consumer dispute system design to show how complaint handling organizations can meet the needs of the most vulnerable consumers throughout the process