The article empirically estimates the effects of disability pensions provided under the Canada / Quebec Pension Plans on the labor-force participation rates of males aged 45-64 years. Two data sets are used. One consists of pooled cross section / annual time-series data by province for the years 1975-83. The other consists of observations as of 1985 on 651 males in the specified age group. Naive estimation results from both sets of data suggest a large negative effect of pension income. In the case of the micro data, this effect becomes small and statistically nonsignificant when more sophisticated estimation methods are used.

This paper empirically investigates the seasonal behavior of the liquidity premium in asset pricing. The evidence suggests a strong seasonal component. In the 1961–1990 period, the liquidity premium is reliably positive only during the month of January. For the non-January months, one cannot detect a positive liquidity premium. The impact of the relative bid-ask spreads on asset pricing in non-January months cannot be reliably distinguished from zero. In contrast to Amihud and Mendelson (1986), however, our evidence suggests that the size effect is significant, even after controlling for spreads.

The General Social Surveys Cumulative Data File is used to analyze the schooling, occupational status, and earnings of American Jews. Jews are identified by a question on religion at age 16. The analysis focuses on trends within the survey period and intergenerational changes from the father to the respondent. Ceteris paribus, Jews have significantly higher levels of schooling, occupational status, and earnings than other whites, and within the survey period there is no trend in the differential. The Jewish fathers also had higher levels of achievement than other fathers, but the differentials increased from the father's to the respondent's generation.

This paper studies the effects of transaction taxes on the behavior of Swedish equity returns during the 1980–1987 period. Sweden provides an excellent laboratory-style setting for such a study, as taxes were imposed for political purposes rather than to alter the behavior of the stock market. Volatility did not decline in response to the introduction of taxes although stock price levels and turnover did. Large proportions of trading activity migrated overseas to London when the tax rate was increased to 2% in 1986.

This paper analyzes bidding behavior in Mexican Treasury bill auctions for the period 1986–1991. The Mexican auction rules resemble those used in U.S. Treasury bill auctions closely. Results suggest the presence of collusion among large bidders throughout a large portion of the sampling period and the presence of information asymmetries between small and large bidders. Results also suggest that bidders account for the winner's curse and that participants bid more cautiously when uncertainty is high. Bidders' profits fell dramatically in 1990 when the Treasury substituted uniform for discriminatory pricing to combat collusion and to increase auction revenues.

Journal Article Game Shows and Economic Behavior: Risk-Taking on “Card Sharks” Get access Robert Gertner Robert Gertner University of Chicago Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 108, Issue 2, May 1993, Pages 507–521, https://doi.org/10.2307/2118342 Published: 01 May 1993

Revised July 7, 1991

Auditing, Sampling, Sample Size, Sampling risk