Incentives and social norms in household behavior
Article Abstract:
The study of the interactions between social norms and economic incentives is important and useful. This is revealed by a study analyzing three norms of relevance to household behavior: norms against wage underbidding, savings and consumption norms, and work norms. The process of creating, learning, and maintaining these norms are somewhat alike. However, the comparative relevance of different aspects vary especially on such aspects as economic domination, group dynamics, and the logical imitation of winning economic behaviors.
Publication Name: American Economic Review
Subject: Economics
ISSN: 0002-8282
Year: 1997
User Contributions:
Comment about this article or add new information about this topic:
Hazardous welfare-state dynamics
Article Abstract:
Welfare-state dynamics reflect the interactive behavior of households, corporations, interest groups, government and public sector administration in response to economic changes and policy development. Although most observable dynamic adjustments are positive, hazardous dynamics are also possible and must be prevented from negating welfare state gains. These hazardous variables include delayed private sector adjustment, short-term macroeconomic problems and the dominance of political risk over market risk.
Publication Name: American Economic Review
Subject: Economics
ISSN: 0002-8282
Year: 1995
User Contributions:
Comment about this article or add new information about this topic:
Price dynamics and production lags
Article Abstract:
A study was conducted to show that the response of inflation to aggregate product demand shocks and the association between aggregate output changes and such shocks correlate with lags between inputs and outputs in the production process. Results indicated that production lags are not sufficient to produce real effects of monetary shocks during assumptions that the real interest rate is unaffected by the rate of inflation.
Publication Name: American Economic Review
Subject: Economics
ISSN: 0002-8282
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Money and capital investment in South Africa: a dynamic specification model. Specialisation-based external economies, supply of primary factors and government size
- Abstracts: Investment decisions and managerial compensation design in the presence of product market rivalry. The strategic use of managerial incentives in a non-profit firm mixed duopoly
- Abstracts: Inflation, reserve requirements, and real interest rates with direct and indirect loan markets. The long-run variance of output and inflation under alternative monetary policy rules
- Abstracts: Workers' compensation and injury duration: evidence from a natural experiment. Carcinogen regulation: Risk characteristics and the synthetic risk bias
- Abstracts: Veblen effects in a theory of conspicuous consumption. Incomplete contracts and strategic ambiguity