We investigate long-term trends in the intergenerational transmission of education in a low income country undergoing a transition from socialism to a market economy. We draw on evidence from Kyrgyzstan using data from three household surveys collected in 1993, 1998 and 2011. We find that Kyrgyzstan, like Eastern European middle income transition economies, generally maintained high educational mobility, comparable to the levels during Soviet times. However, we find that the younger cohorts, who were exposed to the transition during their school years, experienced a rapid decline in educational mobility. We also document that gender differences in schooling and educational mobility, found among older-aged individuals, disappeared in the younger population.
{"title":"Post-Socialist Transition and the Intergenerational Transmission of Education in Kyrgyzstan","authors":"Tilman Brück, D. Esenaliev","doi":"10.2139/ssrn.2239774","DOIUrl":"https://doi.org/10.2139/ssrn.2239774","url":null,"abstract":"We investigate long-term trends in the intergenerational transmission of education in a low income country undergoing a transition from socialism to a market economy. We draw on evidence from Kyrgyzstan using data from three household surveys collected in 1993, 1998 and 2011. We find that Kyrgyzstan, like Eastern European middle income transition economies, generally maintained high educational mobility, comparable to the levels during Soviet times. However, we find that the younger cohorts, who were exposed to the transition during their school years, experienced a rapid decline in educational mobility. We also document that gender differences in schooling and educational mobility, found among older-aged individuals, disappeared in the younger population.","PeriodicalId":341058,"journal":{"name":"ERN: Primary Taxonomy (Topic)","volume":"27 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125904704","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}
Social advertising uses information about consumers' peers, including peer affiliations with a brand, product, organization, etc., to target ads and contextualize their display. This approach can increase ad efficacy for two main reasons: peers' affiliations reflect unobserved consumer characteristics, which are correlated along the social network; and the inclusion of social cues (i.e., peers' association with a brand) alongside ads affect responses via social influence processes. For these reasons, responses may be increased when multiple social signals are presented with ads, and when ads are affiliated with peers who are strong, rather than weak, ties. We conduct two very large field experiments that identify the effect of social cues on consumer responses to ads, measured in terms of ad clicks and the formation of connections with the advertised entity. In the first experiment, we randomize the number of social cues present in word-of-mouth advertising, and measure how responses increase as a function of the number of cues. The second experiment examines the effect of augmenting traditional ad units with a minimal social cue (i.e., displaying a peer's affiliation below an ad in light grey text). On average, this cue causes significant increases in ad performance. Using a measurement of tie strength based on the total amount of communication between subjects and their peers, we show that these influence effects are greatest for strong ties. Our work has implications for ad optimization, user interface design, and central questions in social science research.
{"title":"Social influence in social advertising: evidence from field experiments","authors":"E. Bakshy, Dean Eckles, Rong Yan, Itamar Rosenn","doi":"10.1145/2229012.2229027","DOIUrl":"https://doi.org/10.1145/2229012.2229027","url":null,"abstract":"Social advertising uses information about consumers' peers, including peer affiliations with a brand, product, organization, etc., to target ads and contextualize their display. This approach can increase ad efficacy for two main reasons: peers' affiliations reflect unobserved consumer characteristics, which are correlated along the social network; and the inclusion of social cues (i.e., peers' association with a brand) alongside ads affect responses via social influence processes. For these reasons, responses may be increased when multiple social signals are presented with ads, and when ads are affiliated with peers who are strong, rather than weak, ties.\u0000 We conduct two very large field experiments that identify the effect of social cues on consumer responses to ads, measured in terms of ad clicks and the formation of connections with the advertised entity. In the first experiment, we randomize the number of social cues present in word-of-mouth advertising, and measure how responses increase as a function of the number of cues. The second experiment examines the effect of augmenting traditional ad units with a minimal social cue (i.e., displaying a peer's affiliation below an ad in light grey text). On average, this cue causes significant increases in ad performance. Using a measurement of tie strength based on the total amount of communication between subjects and their peers, we show that these influence effects are greatest for strong ties. Our work has implications for ad optimization, user interface design, and central questions in social science research.","PeriodicalId":341058,"journal":{"name":"ERN: Primary Taxonomy (Topic)","volume":"128 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-06-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134171487","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}
Objective: This study investigates whether asking people to make a pledge causes them to donate to a charitable cause and whether the promise of public recognition increases the effectiveness of the request. Methods: A randomized controlled trial in Manchester, UK where households were sent letters asking them to donate a book for school libraries in South Africa. Results: People who are asked to make a pledge and offered local public recognition are more likely to make a book donation than the control group. The combination of requesting a pledge and offering publicity raises book donations from 7.3 percent to 8.9 percent of households, an effect size of 22 percent. Asking people to pledge alone, without the promise of publicity has no statistically significant impact on giving Conclusion: Combining a pledge request and the promise of local publicity increases individual charitable donations.
{"title":"The Impacts of a Pledge Campaign and the Promise of Publicity: A Randomized Controlled Trial of Charitable Donations","authors":"S. Cotterill, P. John, E. Richardson","doi":"10.2139/ssrn.1833487","DOIUrl":"https://doi.org/10.2139/ssrn.1833487","url":null,"abstract":"Objective: This study investigates whether asking people to make a pledge causes them to donate to a charitable cause and whether the promise of public recognition increases the effectiveness of the request. Methods: A randomized controlled trial in Manchester, UK where households were sent letters asking them to donate a book for school libraries in South Africa. Results: People who are asked to make a pledge and offered local public recognition are more likely to make a book donation than the control group. The combination of requesting a pledge and offering publicity raises book donations from 7.3 percent to 8.9 percent of households, an effect size of 22 percent. Asking people to pledge alone, without the promise of publicity has no statistically significant impact on giving Conclusion: Combining a pledge request and the promise of local publicity increases individual charitable donations.","PeriodicalId":341058,"journal":{"name":"ERN: Primary Taxonomy (Topic)","volume":"28 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2011-05-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115176679","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}
We investigate the financial result of boards’ choices to promote a new CEO from within the firm or hire externally, at large U.S. public firms between 1986 and 2005. This choice theoretically maximizes profits. Additionally, choosing a new CEO from outside the firm influences labor market demand and compensation for top executives. We use the structural self-selection modeling method to determine the performance (total cash flow) boards would have obtained by choosing the passed-over type of hire. The method accounts for boards that self-select their hiring source (inside or outside) to maximize profits. The model uses instrument variables that affect the decision to hire externally but are uncorrelated to firm performance. Standard methods are used to address any remaining concerns related to endogeneity, firm fixed effects, and truncation bias. Extensive robustness tests are run. Results are verified by using advanced matching estimators. Our results show that an economically significant gain is realized, on average, by hiring internally relative to what would have been obtained by hiring externally, whereas an economically significant loss is realized by hiring externally. This result is a) robust to analysis method, performance measure, and model specification, b) holds regardless of the time period, for both S&P 500-size and Forbes 800-size firms, and c) is not significantly changed by removing interim CEOs. Ours tests suggest the loss obtained when hiring externally is not attributable to weak governance or greater risk taking by outside hires to obtain superior performance. Instead, our results suggest that boards are unknowingly missing critical information about external candidates, which results in their decision to hire externally and a subsequent loss of profits. Our result can help explain the major trends in corporate governance and CEO compensation since 1934.
{"title":"The Financial Outcome of Hiring a CEO from Outside the Firm","authors":"James S. Ang, G. L. Nagel","doi":"10.2139/ssrn.1657027","DOIUrl":"https://doi.org/10.2139/ssrn.1657027","url":null,"abstract":"We investigate the financial result of boards’ choices to promote a new CEO from within the firm or hire externally, at large U.S. public firms between 1986 and 2005. This choice theoretically maximizes profits. Additionally, choosing a new CEO from outside the firm influences labor market demand and compensation for top executives. We use the structural self-selection modeling method to determine the performance (total cash flow) boards would have obtained by choosing the passed-over type of hire. The method accounts for boards that self-select their hiring source (inside or outside) to maximize profits. The model uses instrument variables that affect the decision to hire externally but are uncorrelated to firm performance. Standard methods are used to address any remaining concerns related to endogeneity, firm fixed effects, and truncation bias. Extensive robustness tests are run. Results are verified by using advanced matching estimators. Our results show that an economically significant gain is realized, on average, by hiring internally relative to what would have been obtained by hiring externally, whereas an economically significant loss is realized by hiring externally. This result is a) robust to analysis method, performance measure, and model specification, b) holds regardless of the time period, for both S&P 500-size and Forbes 800-size firms, and c) is not significantly changed by removing interim CEOs. Ours tests suggest the loss obtained when hiring externally is not attributable to weak governance or greater risk taking by outside hires to obtain superior performance. Instead, our results suggest that boards are unknowingly missing critical information about external candidates, which results in their decision to hire externally and a subsequent loss of profits. Our result can help explain the major trends in corporate governance and CEO compensation since 1934.","PeriodicalId":341058,"journal":{"name":"ERN: Primary Taxonomy (Topic)","volume":"53 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2011-03-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125001173","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}
Evaluation designs using randomized assignment to assess the impact of social interventions constitute only a small portion of policy evaluations, especially in developing countries. To this end this short note provides a laundrylist style inventory of critical elements to get ”right” when considering an RCT study design to evaluate social interventions.It is hoped that using the checklist as a minimum standard in the future will make quality of findings generated through evaluations using RCT less variable,and thereby better positioned to inform policy and practice in developing countries.
{"title":"Evaluating Social Interventions Through RCTs: A Checklist Tool","authors":"Dr. Ron Bose","doi":"10.2139/ssrn.3527133","DOIUrl":"https://doi.org/10.2139/ssrn.3527133","url":null,"abstract":"Evaluation designs using randomized assignment to assess the impact of social interventions constitute only a small portion of policy evaluations, especially in developing countries. To this end this short note provides a laundrylist style inventory of critical elements to get ”right” when considering an RCT study design to evaluate social interventions.It is hoped that using the checklist as a minimum standard in the future will make quality of findings generated through evaluations using RCT less variable,and thereby better positioned to inform policy and practice in developing countries.","PeriodicalId":341058,"journal":{"name":"ERN: Primary Taxonomy (Topic)","volume":"172 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2011-03-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117339381","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}
As building-integrated photovoltaic (PV) solutions can meet around one-third of electricity demand in Germany and China, both countries are interested in exploring this potential. PV technologies have demonstrated significant price reductions, but large-scale global application of PV requires further technology improvements and cost reductions along the value chain. We analyze policies in Germany and China, including deployment support, investment support for manufacturing plants and R&D support measures, and we survey the industrial actors they can encourage to pursue innovation. While deployment support has been successful, investment support for manufacturing in these nations has not been sufficiently tied to innovation incentives, and R&D support has been comparatively weak. The paper concludes with a discussion of the opportunities for global policy coordination.
{"title":"Survey of Photovoltaic Industry and Policy in Germany and China","authors":"T. Grau, Molin Huo, K. Neuhoff","doi":"10.2139/ssrn.1869813","DOIUrl":"https://doi.org/10.2139/ssrn.1869813","url":null,"abstract":"As building-integrated photovoltaic (PV) solutions can meet around one-third of electricity demand in Germany and China, both countries are interested in exploring this potential. PV technologies have demonstrated significant price reductions, but large-scale global application of PV requires further technology improvements and cost reductions along the value chain. We analyze policies in Germany and China, including deployment support, investment support for manufacturing plants and R&D support measures, and we survey the industrial actors they can encourage to pursue innovation. While deployment support has been successful, investment support for manufacturing in these nations has not been sufficiently tied to innovation incentives, and R&D support has been comparatively weak. The paper concludes with a discussion of the opportunities for global policy coordination.","PeriodicalId":341058,"journal":{"name":"ERN: Primary Taxonomy (Topic)","volume":"26 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2011-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115096998","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}
Over the last decade, randomized evaluations have taken the field of development economics by storm. Despite the availability of strong review pieces in the topic, there is no pedagogical paper on randomized evaluation. This paper bridges the gap by introducing three interactive classroom games to communicate the concepts of Average Treatment Effect (ATE), Intent–to-Treat Effect (ITT), Sub-group Average Treatment Effect (SATE), and Externality Effect (EE). The classroom games are easy to implement and provide students an opportunity to participate in a simple randomized trial of their own.
{"title":"Explaining Randomized Evaluation Techniques Using Classroom Games","authors":"Subha Mani, Utteeyo Dasgupta","doi":"10.2139/ssrn.1676876","DOIUrl":"https://doi.org/10.2139/ssrn.1676876","url":null,"abstract":"Over the last decade, randomized evaluations have taken the field of development economics by storm. Despite the availability of strong review pieces in the topic, there is no pedagogical paper on randomized evaluation. This paper bridges the gap by introducing three interactive classroom games to communicate the concepts of Average Treatment Effect (ATE), Intent–to-Treat Effect (ITT), Sub-group Average Treatment Effect (SATE), and Externality Effect (EE). The classroom games are easy to implement and provide students an opportunity to participate in a simple randomized trial of their own.","PeriodicalId":341058,"journal":{"name":"ERN: Primary Taxonomy (Topic)","volume":"17 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-09-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128685359","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}
In a reversal from its historical roots, the United States income tax system now taxes income from labor significantly more heavily than income from capital. It does so not only facially, through explicit preferences for income from capital, but also more subtly, through more hidden features of the tax system - specifically, enforcement strategies. This Article focuses on a prominent disparity in enforcement between the two forms of income: Wage income is subject to withholding while investment income is not. In its critical examination of this disparity, the Article first offers a brief history of withholding in the United States, in which withholding on wage income was eagerly embraced as a part of a patriotic war effort, while withholding on investment income was rejected again and again. The Article then contrasts the United States experience with that of Germany. Under Germany's remarkably robust constitutional principle of equality in taxation, the failure to withhold on interest income was held unconstitutional, and the German legislature was required to enact it. However, instead of leading to greater equality in tax enforcement, the new withholding law led to widespread evasion. The German experience is cited as a cautionary tale on the dangers of international tax competition. Yet, ultimately, it may prove to have been the tipping point for countries to engage in the cooperative behavior needed to overcome undesirable tax competition. The last Part of the Article draws upon lessons learned from past U.S. and German experiences to make the normative and practical case that now is the time to adopt investment income withholding in the United States.
{"title":"Investment Income Withholding in the United States and Germany","authors":"Lily Kahng","doi":"10.5744/ftr.2010.1003","DOIUrl":"https://doi.org/10.5744/ftr.2010.1003","url":null,"abstract":"In a reversal from its historical roots, the United States income tax system now taxes income from labor significantly more heavily than income from capital. It does so not only facially, through explicit preferences for income from capital, but also more subtly, through more hidden features of the tax system - specifically, enforcement strategies. This Article focuses on a prominent disparity in enforcement between the two forms of income: Wage income is subject to withholding while investment income is not. In its critical examination of this disparity, the Article first offers a brief history of withholding in the United States, in which withholding on wage income was eagerly embraced as a part of a patriotic war effort, while withholding on investment income was rejected again and again. The Article then contrasts the United States experience with that of Germany. Under Germany's remarkably robust constitutional principle of equality in taxation, the failure to withhold on interest income was held unconstitutional, and the German legislature was required to enact it. However, instead of leading to greater equality in tax enforcement, the new withholding law led to widespread evasion. The German experience is cited as a cautionary tale on the dangers of international tax competition. Yet, ultimately, it may prove to have been the tipping point for countries to engage in the cooperative behavior needed to overcome undesirable tax competition. The last Part of the Article draws upon lessons learned from past U.S. and German experiences to make the normative and practical case that now is the time to adopt investment income withholding in the United States.","PeriodicalId":341058,"journal":{"name":"ERN: Primary Taxonomy (Topic)","volume":"20 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-08-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115268377","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}
House prices are a constant source of fascination and discussion in the UK. In the short term, prices move closely with market conditions. Over the longer term, meanwhile, attention often focuses on simple ratios of house prices to earnings. Despite this, relatively little work has been done to assess the sustainable long-term trend in house prices – and, in particular, how the sustainable ratio of house prices to earnings may have evolved over time. As such, this paper examines the behaviour of house prices in the context of the past forty years of spending patterns, finding that consumer preferences are such that the equilibrium ratio of house prices to earnings may well have risen over time.
{"title":"Should UK House Prices Rise in Line with Earnings?","authors":"Colin Ellis","doi":"10.2139/ssrn.1636363","DOIUrl":"https://doi.org/10.2139/ssrn.1636363","url":null,"abstract":"House prices are a constant source of fascination and discussion in the UK. In the short term, prices move closely with market conditions. Over the longer term, meanwhile, attention often focuses on simple ratios of house prices to earnings. Despite this, relatively little work has been done to assess the sustainable long-term trend in house prices – and, in particular, how the sustainable ratio of house prices to earnings may have evolved over time. As such, this paper examines the behaviour of house prices in the context of the past forty years of spending patterns, finding that consumer preferences are such that the equilibrium ratio of house prices to earnings may well have risen over time.","PeriodicalId":341058,"journal":{"name":"ERN: Primary Taxonomy (Topic)","volume":"38 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-07-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123557388","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}
Exclusion and Compulsion in Collectives It is often argued that compulsory memberships in collectives can help to protect inexperienced customers of professional service from faulty work and its consequences: Hence, compulsory memberships serve as a typical tool to reduce the harm from asymmetric information. However, there is always some danger of professional cartels to occur that safeguard secured high income among its members and thus might harm welfare by restraining competition. In this contribution we show that, besides standard types, there are several other less obvious types of compulsory memberships. Those usually benefit the collective’s members but do harm the remaining members of the society. At last, we will show that the exploitation by professional and political party elites in command economies can serve as a good example of applied public good theory and should have been examined at a far earlier point in time.
{"title":"Exclusion and Compulsion in Collectives","authors":"Klaus Mackscheidt, Bancho Banov","doi":"10.2139/ssrn.2897092","DOIUrl":"https://doi.org/10.2139/ssrn.2897092","url":null,"abstract":"Exclusion and Compulsion in Collectives It is often argued that compulsory memberships in collectives can help to protect inexperienced customers of professional service from faulty work and its consequences: Hence, compulsory memberships serve as a typical tool to reduce the harm from asymmetric information. However, there is always some danger of professional cartels to occur that safeguard secured high income among its members and thus might harm welfare by restraining competition. In this contribution we show that, besides standard types, there are several other less obvious types of compulsory memberships. Those usually benefit the collective’s members but do harm the remaining members of the society. At last, we will show that the exploitation by professional and political party elites in command economies can serve as a good example of applied public good theory and should have been examined at a far earlier point in time.","PeriodicalId":341058,"journal":{"name":"ERN: Primary Taxonomy (Topic)","volume":"30 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121748493","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}
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