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This paper characterizes optimal education and population policies within a continuous-time overlapping generations (OLG) framework where fertility, schooling duration, and health expenditures are …
Discussion paper
Chasing and the house money effect are well-known phenomena in dynamic environments of risky activities such as investment decisions or gambling. Recent studies suggest that such behavior emerges …
Discussion paper
Lobbyists are nowadays increasingly involved in promoting businesses through societal investment, producing what has been paraphrased as “corporate beauty contests” due to the uncertain winning …
Discussion paper