Economics - Research Publications

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    Investment in Australian Aboriginal Art
    Lye, JN ; Hirschberg, JG ( 2020)
    Recent changes in Australian legislation that limit the value of how artworks that can be considered as assets in retirement funds have had an impact on the Australian Aboriginal Art market. In this paper we estimate the impact of these changes on the price index based on prices paid for 15,845 works by over 200 artists at art auctions from 1986 to 2019. Using an OLS and a quantile regression approach, we estimate hedonic price models for various segments of the Australian Aboriginal art market. These models are used to estimate price indices in order to investigate if the changes in Australian laws concerning the sale and use of art assets has influenced the potential returns for different segments of the market.
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    Measurement of Intra-household Resource Control: Exploring the Validity of Experimental Measures
    Ambler, K ; Jones, K ; Recalde, M (International Food Policy Research Institute, 2020-12-01)
    We study the validity of experimental methods designed to measure preferences for intra-household resource control among spouses in Ghana and Uganda. We implement two incentivized tasks; (1) a game that measures willingness to pay to control resources, and (2) private and joint dictator games that measure preferences for resource allocation and the extent to which those preferences are reflected in joint decisions. Behavior in the two tasks is correlated, suggesting that they describe similar underlying latent variables. In Uganda the experimental measures are robustly correlated with a range of household survey measures of resource control and women’s empowerment and suggest that simple private dictator games may be as informative as more sophisticated tasks. In Ghana, the experimental measures are not predictive of survey indicators, suggesting that context may be an important element of whether experimental measures are informative.
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    Gender Differences in Negotiation and Policy for Improvement
    Recalde, M ; Vesterlund, L (National Bureau of Economic Research, 2020-12-01)
    Men more than women succeed when negotiating over labor-market outcomes, and gender differences in negotiation likely contribute to the gender wage gap and to horizontal and vertical segregation in the labor market. We review the evidence on the many initiatives that have been put in place to reduce the effect of gender differences in negotiation. Categorizing these as either ‘fix-the-women’ or ‘fix-the-institutions’ initiatives we find serious challenges to the former. Women do not appear to be broken and encouraging them to negotiate more and differently often backfires. The evidence suggests that ‘fix-the-institution’ initiatives are more effective in reducing gender differences in outcomes. Concerns of adverse effects of banning negotiations or salary history requests have not materialized, and preliminary evidence points to reductions in the gender differences in negotiation outcomes. The strongest evidence on effectiveness in narrowing gender disparities is found for policies that increase transparency. Numerous studies find that gender differences in negotiation diminish when it is clear what to expect from the negotiation and suggest that initiatives which improve transparency are likely to help equalize opportunities at the bargaining table.