Articles

Jess Benhabib, Shenghao Zhu. Age, Luck And Inheritance

We present a mechanism to analytically generate a double Pareto distribution of wealth in a continuous time OLG model with optimizing agents who have bequest motives, are subject to stochastic returns on capital and have uncertain lifespans. We disentangle, roughly, the contribution of inheritance, age and stochastic rates of capital return to wealth inequality, in particular to the Gini coefficient. We investigate the role of the fiscal and redistributive policies for wealth inequality and soci...

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Ryan McKay, Charles Efferson, Harvey Whitehouse, Ernst Fehr. Wrath of God: religious primes and punishment

Religion carries formidable epistemic, metabolic and material costs [1–3]. Religious believers must maintain and compartmentalize beliefs that are extravagantly at variance with intuitive conceptions of reality. Religious rituals, moreover, are often physically taxing and painful, and frequently require the sacrifice of precious resources. Given such costs, some evolutionary theorists argue that religion must provide, or in the ancestral past must have provided, countervailing adaptive benefits ...

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Martin Halla, Alexander F. Wagner, Josef Zweimüller. Immigration and Voting for the Extreme Right

Extreme-right-wing (ERW) parties are on the rise in many countries. Moreover, there is an alarmingly high cross-country correlation between the election success of ERW parties and immigration. Motivated by this evidence, we explore one potentially important channel through which immigration may drive support for ERW parties: the presence of immigrants in the voters' neighborhoods. We study the case of the Freedom Party of Austria (FPÖ). Under the leadership of Jörg Haider, this party increased...

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