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The Market for Lawyers and the Quality of Legal Services 律师市场与法律服务质量
CEIS: Centre for Economic & International Studies Working Paper Series Pub Date : 2010-07-01 DOI: 10.2139/ssrn.1653919
E. Iossa, B. Jullien
{"title":"The Market for Lawyers and the Quality of Legal Services","authors":"E. Iossa, B. Jullien","doi":"10.2139/ssrn.1653919","DOIUrl":"https://doi.org/10.2139/ssrn.1653919","url":null,"abstract":"Studying the strategic interaction between litigants, lawyers and judges, we analyze the value of the quality of legal representation and how public information over quality affects the outcome of the judicial process. Judges have reputational concerns and the quality of lawyers is reflected in knowledge of legal principles and in proof-taking ability. Deriving the demand for legal representation and the market equilibrium, we show that higher quality of legal representation is welfare increasing but better information over quality may be welfare reducing. We discuss the implications of our results on the desirability of quality ceritfication, such as the Queen's Counselor system","PeriodicalId":416571,"journal":{"name":"CEIS: Centre for Economic & International Studies Working Paper Series","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128674809","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 6
Accounting for Unobserved Country Heterogeneity in Happiness Research: Country Fixed Effects Versus Region Fixed Effects 考虑幸福研究中未观察到的国家异质性:国家固定效应与地区固定效应
CEIS: Centre for Economic & International Studies Working Paper Series Pub Date : 2010-04-20 DOI: 10.2139/ssrn.1618212
J. Fischer
{"title":"Accounting for Unobserved Country Heterogeneity in Happiness Research: Country Fixed Effects Versus Region Fixed Effects","authors":"J. Fischer","doi":"10.2139/ssrn.1618212","DOIUrl":"https://doi.org/10.2139/ssrn.1618212","url":null,"abstract":"Many empirical studies are ambiguous about whether good formal institutions are conducive to subjective well-being or not. Possibly, this ambiguity is caused by cross-section models that do not account for unobserved cultural and institutional effects. Using the World Value Survey 1980-2005, this paper supports a positive relation in a country panel framework that accounts for unobserved, time-invariant country heterogeneity. This study also shows that using supra-national region dummies (by geography or language) in a country-random effects model appears to be a sufficient substitution for omitted country fixed effects.","PeriodicalId":416571,"journal":{"name":"CEIS: Centre for Economic & International Studies Working Paper Series","volume":"19 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-04-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121754307","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 18
Non-Exclusive Competition in the Market for Lemons 柠檬市场的非排他性竞争
CEIS: Centre for Economic & International Studies Working Paper Series Pub Date : 2009-12-18 DOI: 10.2139/ssrn.1525465
A. Attar, Thomas Mariotti, François Salanié
{"title":"Non-Exclusive Competition in the Market for Lemons","authors":"A. Attar, Thomas Mariotti, François Salanié","doi":"10.2139/ssrn.1525465","DOIUrl":"https://doi.org/10.2139/ssrn.1525465","url":null,"abstract":"We consider an exchange economy in which a seller can trade an endowment of a divisible good whose quality she privately knows. Buyers compete in menus of non-exclusive contracts, so that the seller may choose to trade with several buyers. In this context, we show that an equilibrium always exists and that aggregate equilibrium allocations are generically unique. Although the good offered by the seller is divisible, aggregate equilibrium allocations exhibit no fractional trades. In equilibrium, goods of relatively low quality are traded at the same price, while goods of higher quality may end up not being traded at all if the adverse selection problem is severe. This provides a novel strategic foundation for Akerlof's (1970) results, which contrasts with standard competitive screening models postulating enforceability of exclusive contracts. Latent contracts that are issued but not traded in equilibrium turn out to be an essential feature of our construction.","PeriodicalId":416571,"journal":{"name":"CEIS: Centre for Economic & International Studies Working Paper Series","volume":"23 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-12-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127991415","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 32
Testing for Common Autocorrelation in Data Rich Environments 数据丰富环境中常见自相关的测试
CEIS: Centre for Economic & International Studies Working Paper Series Pub Date : 2009-12-04 DOI: 10.2139/ssrn.1518419
G. Cubadda, Alain Hecq
{"title":"Testing for Common Autocorrelation in Data Rich Environments","authors":"G. Cubadda, Alain Hecq","doi":"10.2139/ssrn.1518419","DOIUrl":"https://doi.org/10.2139/ssrn.1518419","url":null,"abstract":"This paper proposes a strategy to detect the presence of common serial correlation in high-dimensional systems. We show by simulations that univariate autocorrelation tests on the factors obtained by partial least squares outperform traditional tests based on canonical correlations.","PeriodicalId":416571,"journal":{"name":"CEIS: Centre for Economic & International Studies Working Paper Series","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-12-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131250420","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 21
Shipbuilding in Italy, 1861-1913: The Burden of the Evidence 意大利造船业，1861-1913:证据的责任
CEIS: Centre for Economic & International Studies Working Paper Series Pub Date : 2008-12-15 DOI: 10.2139/ssrn.1316433
S. Fenoaltea, Carlo Ciccarelli
{"title":"Shipbuilding in Italy, 1861-1913: The Burden of the Evidence","authors":"S. Fenoaltea, Carlo Ciccarelli","doi":"10.2139/ssrn.1316433","DOIUrl":"https://doi.org/10.2139/ssrn.1316433","url":null,"abstract":"Ship-building in post-Unification Italy is here documented by new national and re-gional time series. Where the extant national series point to secular decline, the new estimates reveal a major increase in output tied primarily to the growth of repair work on the one hand and of naval construction on the other. The re-gional estimates, which have no precedent in the literature, point to consider-able concentration: Liguria accounted for more than half the product, and Campania for almost another quarter. Again, while in most regions shipbuild-ing was barely significant, in Liguria it represented up to a quarter of total in-dustrial production. The further disaggregation of naval construction points to significant exports, from the 1890s, by the private yards in Tuscany and Lig-uria; the consensus view that Italy’s engineering industry was then too back-ward to export at all is clearly unfounded.","PeriodicalId":416571,"journal":{"name":"CEIS: Centre for Economic & International Studies Working Paper Series","volume":"72 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-12-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115552835","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 13
How Variable is Labor Input in the Italian Manufacturing: The Case of the Pharmaceutical Industry 意大利制造业的劳动力投入有多可变:以制药业为例
CEIS: Centre for Economic & International Studies Working Paper Series Pub Date : 2008-12-05 DOI: 10.2139/ssrn.1428417
L. Carbonari
{"title":"How Variable is Labor Input in the Italian Manufacturing: The Case of the Pharmaceutical Industry","authors":"L. Carbonari","doi":"10.2139/ssrn.1428417","DOIUrl":"https://doi.org/10.2139/ssrn.1428417","url":null,"abstract":"The aim of this paper is to study the labor demand in the Italian manufacturing, using firm-level data on pharmaceutical industry. The Italian pharmaceutical industry is characterized by the existence of long-term labor contracts, and this fact suggests to consider labor as quasi-fixed input. In order to characterize firms’ behavior we base our analysis on the restricted Generalized Leontief cost function. The choice of this flexible functional form is due to its ability to capture the input substitution patterns in presence of more than one quasi-fixed input. Therefore demand and substitution elasticities are estimated with respect to two different theoretical models: the first, QFI(1), with capital as quasi-fixed input and the second, QFI(2), with two quasi-fixed inputs, capital and labor. The choice among the two alternative specifications is based on an elasticity comparison criterion, since the two models are not nested. Our results confirm the a priori on the labor market rigidity and point out the high heterogeneity between the firms, even controlling for size and nationality","PeriodicalId":416571,"journal":{"name":"CEIS: Centre for Economic & International Studies Working Paper Series","volume":"92 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-12-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126319127","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Construction in Italy's Regions, 1861-1913 意大利地区的建筑，1861-1913
CEIS: Centre for Economic & International Studies Working Paper Series Pub Date : 2008-12-03 DOI: 10.2139/ssrn.1310672
Carlo Ciccarelli, S. Fenoaltea
{"title":"Construction in Italy's Regions, 1861-1913","authors":"Carlo Ciccarelli, S. Fenoaltea","doi":"10.2139/ssrn.1310672","DOIUrl":"https://doi.org/10.2139/ssrn.1310672","url":null,"abstract":"This paper presents time-series estimates of construction activity in the regions of post-Unification Italy. Total construction followed very different time paths, reflecting the sharply local cycles in railway construction. Other public works were less idiosyncratic; the boom of the Giolitti years was widely diffused, but that of the 1880s was much more concentrated in Latium and Liguria. In the construction of buildings, the Giolittian boom was marked in the North and Center, but spotty in the South and major islands; earlier swings were comparatively minor, save of course for the 1880s bubble in Latium. Over the long term, railway construction was, per-capita, relatively evenly spread. Other social-overhead construction displays a similar pattern, but with exceptionally high levels in Latium and Liguria. Building construction seems instead to have declined somewhat from North to South; Liguria was again the overall leader, with Latium second.","PeriodicalId":416571,"journal":{"name":"CEIS: Centre for Economic & International Studies Working Paper Series","volume":"14 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-12-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122240046","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 12
The Effects of Unification: Markets, Policy and Cyclical Convergence in Italy, 1861-1913 统一的影响:1861-1913年意大利的市场、政策和周期性趋同
CEIS: Centre for Economic & International Studies Working Paper Series Pub Date : 2008-11-19 DOI: 10.2139/ssrn.1304000
Carlo Ciccarelli, S. Fenoaltea, Tommaso Proietti
{"title":"The Effects of Unification: Markets, Policy and Cyclical Convergence in Italy, 1861-1913","authors":"Carlo Ciccarelli, S. Fenoaltea, Tommaso Proietti","doi":"10.2139/ssrn.1304000","DOIUrl":"https://doi.org/10.2139/ssrn.1304000","url":null,"abstract":"This paper examines the convergence of regional business cycles in the decades that followed Italy's Unification. The aggregate construction series point to cyclical convergence, but a sectorlevel analysis traces this result to the decline in differentiated \"regional-policy\" shocks. The regional market cycles diverged, as the regions specialized in different sectors of production; market-cycle convergence is observed only within the \"industrial triangle,\" the regions of which also developed different specializations. This suggests that the balance between growing interdependence and growing differentiation is not general, as the current literature presumes, but specialization-specific.","PeriodicalId":416571,"journal":{"name":"CEIS: Centre for Economic & International Studies Working Paper Series","volume":"100 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-11-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132377723","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Cigarette Smoking, Pregnancy, Forward Looking Behavior and Dynamic Inconsistency 吸烟、怀孕、前瞻行为和动态不一致
CEIS: Centre for Economic & International Studies Working Paper Series Pub Date : 2008-11-14 DOI: 10.2139/ssrn.1301464
Carlo Ciccarelli, L. Giamboni, R. Waldmann
{"title":"Cigarette Smoking, Pregnancy, Forward Looking Behavior and Dynamic Inconsistency","authors":"Carlo Ciccarelli, L. Giamboni, R. Waldmann","doi":"10.2139/ssrn.1301464","DOIUrl":"https://doi.org/10.2139/ssrn.1301464","url":null,"abstract":"This paper addresses two aspects of the model of rational addiction: forward looking behavior and time consistent preferences. It explores smoking by women before, during and after pregnancy using the European Community Household Panel (ECHP).Pregnancy is used as an instrument for a partially predictable future decrease in smoking. Women reduce the average number of cigarettes they smoke and many quit in the period 10 to 15 months before the birth of a child. Our analysis suggests that this effect may be stronger for married than for unmarried women, corresponding to the higher probability that the pregnancies of married women are planned. Pregnancy is also used as an instrument to estimate the parameters of a structural model of addiction. The estimates imply that cigarettes are highly addictive. Finally, we present statistically significant evidence that, even when the expected number of cigarettes smoked one month after the interview is taken into account, expected smoking further in the future has an independent effect on current consumption. This effect remains even when we impose the highest theoretically possible coefficient on expected cigarettes smoked one month after the interview. This means that the null of time consistency is (barely) rejected against the alternative of time inconsistency.","PeriodicalId":416571,"journal":{"name":"CEIS: Centre for Economic & International Studies Working Paper Series","volume":"170 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-11-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124733808","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 4
Predicting the Signs of Forecast Errors 预测预测错误的迹象
CEIS: Centre for Economic & International Studies Working Paper Series Pub Date : 2008-11-01 DOI: 10.2139/ssrn.1306279
N. Solferino, R. Waldmann
{"title":"Predicting the Signs of Forecast Errors","authors":"N. Solferino, R. Waldmann","doi":"10.2139/ssrn.1306279","DOIUrl":"https://doi.org/10.2139/ssrn.1306279","url":null,"abstract":"The signs of forecast errors can be predicted using the difference between individuals' forecasts and the average of earlier forecasts of the same variable. It is possible to improve forecasts without worsening any. It is difficult to reconcile this result with the rational expectations hypothesis, because the average of earlier forecasts is in the information set of the forecasters","PeriodicalId":416571,"journal":{"name":"CEIS: Centre for Economic & International Studies Working Paper Series","volume":"14 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132067741","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 2
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