Research Seminars (Archive)
Contract enforcement and trustworthiness across ethnic groups: Experimental evidence from Northern AfghanistanLecturer: Vojtěch Bartoš Affiliation: University of Munich ESF MU, Room S314 12:00 PM • 4/7/2017
We study how the availability and use of an institution a financial sanction affects trust, trustworthiness, and moral intentions towards co-ethnics and non-co-ethnics using an economic experiment run with 420 adult males from peri-urban areas in Afghanistan. In contrast to previous studies on the behavioral effects of financial incentives, our subjects have little experience with formal institutions. We use a trust game with a requested back-transfer in which the investor can choose to impose a financial sanction for non-compliance. The sanction is costly to the trustee but cost-less to the investor. While sanctioning increases back-transfers in cross-ethnic pairs, it does not in co-ethnic pairs. Our results suggest that financial sanctions may crowd out moral incentives more strongly among one's own group, but have a much smaller behavioral effect when applied to individuals from a different ethnic group. The results have important implications for understanding how formal institutions affect cooperation in ethnically heterogeneous settings.
Intersectionality and Qualitative Research in OrganizationsLecturer: Ramaswami Mahalingam Affiliation: University of Michigan, USA Mendel University, Room Q45 1:00 PM • 3/31/2017
Intersectionality has gained more scholarly attention in organizational research. In my research I use intersectionality in three different ways: (a) embodied intersecting identities; (b) intersecting cultural and ecological factors; (c) intersectionality as an awareness. Using my qualitative research on dignity in workplace in a comparative study of janitors in three countries (US, South Korea and India), my presentation will focus on the usefulness of intersectionality in qualitative research in organizations.
Dispute resolution or escalation? The strategic gaming of feedback withdrawal options in online marketsLecturer: Ben Greiner Affiliation: WU Vienna Faculty of Economics, Masaryk University, Room S310 1:00 PM • 3/24/2017
Many online markets encourage traders to make good after an unsatisfactory transaction by offering the opportunity to withdraw negative reputational feedback in a dispute resolution phase. Motivated by field evidence and guided by theoretical considerations, we use laboratory markets with two-sided moral hazard to show that this option, contrary to the intended purpose, produces an escalation of dispute. The mutual feedback withdrawal option creates an incentive to leave negative feedback, independent of the opponent’s behavior, to improve one’s bargaining position in the dispute resolution phase. This leads to distorted reputation information and less trust and trustworthiness in the trading phase. Buyers who refuse to give feedback strategically, even when it comes at a personal cost, mitigate the detrimental impact. It is also mitigated in markets with one-sided moral hazard and a unilateral feedback withdrawal option.
Causal Mechanisms in the Intergenerational Transmission of Income in ChinaLecturer: Jack Hou Affiliation: California State University, USA Mendel University, Room Q45 1:00 PM • 3/3/2017
Intergenerational income elasticity (IIE) is often used to measure intergenerational income mobility, but it tell us little regarding the determinants behind the intergenerational income correlation. Accurate understanding of the intergenerational transmission of income is important for policies aimed at improving social equality. In this paper, we use current income data from the 2010 China Family Panel Studies (CFPS), studying the causal effect of father’s income and human capital on the intergenerational transmission of income between fathers and sons. We find that the majority of the intergenerational income elasticity can be attributed to the causal effect of father’s financial resources. Moreover, we provide a lower bound of the elasticity, which is 0.339, with the true value is estimated to be closer to 0.6. The result suggests that public policies aim at narrowing current income gap will have a long lasting effect as it is conducive to increasing intergenerational income mobility in China.
Road congestion and public transitLecturer: Martin Adler Affiliation: Vrije Universiteit Amsterdam Faculty of Economics, Masaryk University, Room S314 1:00 PM • 12/16/2016
Road congestion and travel delays are a major obstacle to efficient transportation. We estimate the marginal external time cost of motor vehicle travel as well as the public-transit induced reduction in motor vehicle congestion for the city of Rome. We estimate the marginal external cost of car flow introducing an approach which allows for endogeneity and other statistical issues caused by reverse causality –.i.e. a situation where an increase in travel time results in a decrease in transport flow, a phenomenon sometimes labelled as hypercongestion, We make use of a quasi-experimental approach employing public transit strikes to account for endogeneity issues. The motor vehicle’s marginal external time cost is 4.1 minutes per kilometer during peak hours, which is substantial as it is about four times its marginal private time cost. By supplying public transit, motor vehicles’ travel time is reduced by 0.14 minutes per kilometer during peak hours. The external benefits of public transit justify current subsidy levels to public transit and suggest that even larger subsidies would be welfare improving. Large welfare gains could be achieved by bus-lanes and road pricing that would decrease congestion and increase public transit use.
Economic Consequences of Political PersecutionLecturer: Radim Boháček Affiliation: CERGE-EI Mendel University in Brno, Room Q45 1:00 PM • 12/9/2016
We analyze the effects of persecution and labor market discrimination during the communist regime in the former Czechoslovakia using a representative life history sample from the Survey of Health, Ageing and Retirement in Europe. We find strong effects of persecution and dispossession on subsequent earnings, with most severe implications of job loss due to persecution on earnings in subsequent jobs and on career degradation. Accumulated long-term effects in the form of initial retirement pensions paid during the communist regime are even greater. These pension penalties disappear by 2006 largely as a result of compensation schemes implemented by democratic governments after 1989. We use unique administrative data on political rehabilitation and prosecution to instrument for the endogenous variables. Finally, we survey transitional justice theory and document reparations programs in other countries.
Measuring the perception of financial risk tolerance: A tale of two measuresLecturer: John Gilliam Affiliation: Texas Tech University Mendel University, Room Q43 1:00 PM • 12/2/2016
The assessment of financial risk tolerance, as a tool for managing expectations of portfolio volatility, is essential to goal attainment. This study compares two empirical measures of risk tolerance and separately examines the association between these measures of risk tolerance and asset allocation. The instruments used to determine investors’ perception of financial risk tolerance are the Survey of Consumer Finance’s (SCF) single-question measure and a 13-item, multidimensional measure developed by Grable and Lytton (1999). A sample comprised of 328 respondents, predominantly faculty and staff at colleges and universities in the Southwest, completed a 38-question, web-based survey. Results suggest that, while both scales are associated with preference for risky or non-risky asset allocation among respondents, the 13-item scale has greater explanatory power.
Equity in Health FinancingLecturer: Diana De Graeve Affiliation: University of Antwerp Mendel University, Room Q43 1:00 PM • 11/25/2016
Fairness in the finance of health care relates to the distribution of health care payments across the population and is an important issue for most health care systems. The focus is on whether payments for health care are in accordance with ability to pay and on whether households are protected against catastrophic expenses. This chapter describes and discusses the methodologies used in measuring both (in)equity concepts. Further an overview is given of empirical results covering developed as well as developing countries. Finally some policy concerns about improving equity are highlighted.
Stock Market Contagion in Central and Eastern Europe: Unexpected Volatility and Extreme Co-exceedanceLecturer: Štefan Lyócsa Affiliation: University of Economics in Bratislava Faculty of Economics, Masaryk University, Room S314 2:00 PM • 11/18/2016
The presentation shows recent evidence about the existence and size of contagion from the U.S. stock market to six Central and Eastern European stock markets. A novel approach to the measurement of contagion is presented, that examines how volatility shocks in the U.S. stock market impact emerging stock markets in Europe. We will discuss whether stock markets in Europe are sensitive to the occurrence of un-expected negative events in the U.S., i.e. whether events in the U.S. are contagious. Finally, some implications are discussed, particularly to portfolio diversification opportunities.
Empirical approaches to the modelling of stock market networksLecturer: Tomáš Výrost Affiliation: University of Economics in Bratislava Faculty of Economics, Masaryk University, Room S314 1:00 PM • 11/18/2016
The talk focuses on the results of modeling stock market networks. In the first part of the talk, general principles of network construction are introduced and several common widely used graph-theoretic algorithms for suitable subgraph selection, such as minimum spanning trees and planar maximally filtered graphs are confronted with their economic rationale. Next, several econometric approaches to the construction of correlation based networks are presented, including DCC-MVGARCH and Granger causality. Finally, in its empirical part, the talk presents selected results on various approaches to the modelling of specific stock market networks.