Mirror, mirror on the wall, who is the happiest of them all?

This paper turns Snow-White's magic mirror onto recent economics Nobel Prize winners, top economists and happiness researchers, and through the eyes of the 'man in the street' seeks to determine who the happiest academic is. The study not only provides a clear answer to this question but also unveils who is the ladies' man and who is the sweetheart of the aged. It also explores the extent to which information matters and whether individuals' self-reported happiness affects their perceptions about the happiness of these superstars in economics.

The mystery of polygamy

The economic literature on marriage identifies a number of benefits of marriage and discusses mechanisms that cause societies to prefer certain marital structures such as polygamy or monogamy. In principle, however, these benefits and mechanisms might lead societies towards polyandry and even cenogamy. The rareness of polyandry and the absence of cenogamy, however, clearly indicate that important aspects of marriage are omitted. This paper argues that the reproductive nature of marital arrangements must be taken into account when analyzing the foundations of marriage. Monogamy always achieves efficient parental investments in offspring. For polygamous arrangements this might be often true. It fails, however, in polyandry because paternity cannot be established with certainty. Cenogamy is shown to be an unstable arrangement.

Bootstrap approaches for estimation and confidence intervals of long term memory processes

In this work, we investigate an alternative bootstrap approach based on a result of Ramsey [F.L. Ramsey, Characterization of the partial autocorrelation function, Ann. Statist. 2 (1974), pp. 1296-1301] and on the Durbin-Levinson algorithm to obtain a surrogate series from linear Gaussian processes with long range dependence. We compare this bootstrap method with other existing procedures in a wide Monte Carlo experiment by estimating, parametrically and semi-parametrically, the memory parameter d. We consider Gaussian and non-Gaussian processes to prove the robustness of the method to deviations from normality. The approach is also useful to estimate confidence intervals for the memory parameter d by improving the coverage level of the interval.

Chart of accounts : a framework for measuring the economic and social contributions by older Australians

National Seniors Australia (2008) acknowledged the huge contributions that older people have made to Australian society in its policy statement, AdvantAGE Australia. National Seniors Australia commissioned this study to find out more about the extent of these contributions and the factors that influence these contributions. The key outcome of this study is a framework or ‘Chart of Accounts’ that allows users to a) track the participation of older Australians in paid and unpaid work; and b) estimate the value of economic and social contributions by older Australians as well as the value of losses for not utilising the knowledge and skills that older Australians have built up over a lifetime. Users can also make predictions of future contributions and participation in paid and unpaid work by using existing data as the baseline.

Estimating short and long-term residential demand for electricity : new evidence from Sri Lanka

This study investigates the short-run dynamics and long-run equilibrium relationship between residential electricity demand and factors influencing demand - per capita income, price of electricity, price of kerosene oil and price of liquefied petroleum gas - using annual data for Sri Lanka for the period, 1960-2007. The study uses unit root, cointegration and error-correction models. The long-run demand elasticities of income, own price and price of kerosene oil (substitute) were estimated to be 0.78, - 0.62, and 0.14 respectively. The short-run elasticities for the same variables were estimated to be 032, - 0.16 and 0.10 respectively. Liquefied petroleum (LP) gas is a substitute for electricity only in the short-run with an elasticity 0.09. The main findings of the paper support the following (1) increasing the price of electricity is not the most effective tool to reduce electricity consumption (2) existing subsidies on electricity consumption can be removed without reducing government revenue (3) the long-run income elasticity of demand shows that any future increase in household incomes is likely to significantly increase the demand for electricity and(4) any power generation plans which consider only current per capita consumption and population growth should be revised taking into account the potential future income increases in order to avoid power shortages ill the country.

Environmental and pro-social norms : evidence on littering

The paper investigates the relationship between pro-social norms and its implications for improved environmentsl outcomes. This is an area, which has been neglected in the environmental economic literature. We provide empirical evidence to demonstrate a small but significant positive impact between perceived environmental cooperation (reduced public littering) and increased voluntary environmental morale. For this purpose we use European Value Survey (EVS) data for 30 European countries. We also demonstrate that Western European countries are more sensitive to perceived environmental cooperation than the public in Eastern Europe. Interestingly, the results also demonstrate that environmental morale is strongly correlated with several socio-economic and environmental variables. Several robustness tests are conducted to check the validity of the results.

The evolution of tax morale in modern Spain

This paper studies the evolution of tax morale in Spain in the post-France era. In contrast to the previous tax compliance literature, the current paper investigates tax morale as the dependent variable and attempts to answer what actually shapes tax morale. Te analysis uses suevey data from two sources; the World Values Survey and the European Values Survey, allowing us to observe tax morale in Spain for the years 1981,1990, 1995 and 1999/2000. The sutudy of evolution of tax morale in Spain over nearly a 20-year span is particularly interesting because the political and fiscal system evolved very rapidly during this period.

The Impact of Globalization and Corruption on Extraordinary Wealth: An Empirical Analysis

The billionaires of the world attract significant attention from the media and the public. The popular press is full of books selling formulas on how to become rich. Surprisingly, only a limited number of studies have explored empirically the determinants of extraordinary wealth. Using a large data set we explore whether globalization and corruption affect extreme wealth accumulation. We find evidence that an increase in globalization increases super-richness. In addition, we also find that an increase in corruption leads to an increase in the creation of super fortune. This supports the argument that in kleptocracies large sums are transferred into the hands of a small group of individuals.

Religion and economy : a comment

McCleary and Barro (2206) analyse whether Max Weber was right in emphasizing the religious impact on work ethic. Thery find a positive correltion between belief in hell and work ethic (p=0.98). They conclude that "Weber may have been right in emphasizing the religion link with work ethic"(p.71). Howevern they fail to explore the link to Max Weber's work on Protestant ethic as they don't explore for denomination differences. Weber's hypotheses would suggest that we would mainly observe an effect for Protestantism within a society. Thus, compared to McCleary and Barro's findings such a result is very much in line with Max Weber's link between religion and work ethic.

Survival Power: An Empirical Analysis of Power in a Life and Death Situation

This paper seeks to identify what antecedents of power make it more or less likely for people to survive in a life-threatening situation.In particular, we look at the Titanic disaster as the life or death situation. Maritime disasters can be interpreted as quasi-natural experiments because every person is affected by the shock. True human nature becomes apparent in such a dangerous situation. Five antecedents of power are distinguished: physical strength, economic resources, nationality, social and moral factors. This empirical analysis supports the notion that power is a key determinant in extreme situations of life or death.

Work ethic, protestantism and human capital

Weber's contribution on Protestant work ethic has stimulated numerous social scientists. However, the question whether a Protestant specific work ethic exists at all is still rarely analysed. Our results indicate that work ethic is influenced by denomination-based religiosity and education.