Conference Agenda

Overview and details of the sessions of this online conference.

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Please note that all times are shown in the time zone of the conference. The current conference time is: 2nd Dec 2021, 12:26:56pm GMT

 
 
Session Overview
Session
G04: Behavioral Public Finance and Public Goods
Time:
Thursday, 19/Aug/2021:
4:00pm - 5:30pm


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Presentations
4:00pm - 4:22pm

December Fever in Public Finance

Vera M. Eichenauer

ETH Zurich, Switzerland

Public spending often increases at the end of fiscal years. This is a dynamic inefficiency. The causes for year-end spending spikes are poorly understood. Our novel identification strategy relies on the historic variation in countries’ fiscal years. We show that the end of fiscal years rather than alternative explanations cause spending spikes at the end of fiscal years. Our accounting data includes discretionary daily contributions of 27 OECD countries to the World Bank from 2002-2013. As suggested by principal-agent theory, we find that high administrative quality reduces the end of year effect and analyze pertinent budget institutions as possible mechanisms.

Eichenauer-December Fever in Public Finance-149.pdf


4:22pm - 4:45pm

The Welfare Economics of Reference Dependence

Daniel Reck2, Arthur Seibold1

1University of Mannheim, Germany; 2London School of Economics, United Kingdom

Empirical evidence suggests that in many contexts, individuals evaluate options relative to a reference point, placing disproportionate weight on losses. In this paper, we analyze welfare under reference dependence. We explicitly model the central normative ambiguity over whether the influence of the reference point on choices reflects a bias or a normative preference, and we describe how judgments regarding this ambiguity affect welfare calculations. We find that policies that decrease the reference point generally improve welfare. In contrast, the welfare effect of price or tax changes in the presence of reference dependence depends strongly on normative judgments. We illustrate our findings with an empirical application to reference dependence exhibited in retirement decisions of German workers. Simulation results lend some support to increasing the Normal Retirement Age rather than using financial incentives in order to induce workers to postpone retirement.

Reck-The Welfare Economics of Reference Dependence-389.pdf


4:45pm - 5:07pm

Paternalism Attitudes And The Happiness Value Of Fundamental Freedoms

Kai Konrad, Sven Arne Simon

Max Planck Institute for Tax Law and Public Finance, Germany

The Governmental Paternalism Index is a new empirical index that measures individuals' attitudes towards governmental regulation and prescriptions that aim at preventing potentially self-harming behavior. Our results indicate considerable heterogeneity in how individuals support, or object to, such governmental prescriptions. We design and use this new index in a survey on life satisfaction during the covid-19 pandemic to assess how restrictions of personal freedom affect life satisfaction, and how the attitudes towards governmental paternalism affect this relationship. Our results indicate that losses in life satisfaction in the course of the Covid-19 pandemic are mainly attributed to restrictions in personal freedom and to a negative outlook on societal change, and that individuals' value in the Governmental Paternalism Index is a major determinant of the size of this effect.

Konrad-Paternalism Attitudes And The Happiness Value Of Fundamental Freedoms-425.pdf


5:07pm - 5:30pm

Navigating The Notches: Charity Responses To Ratings

Jennifer Mayo

University of Michigan, United States of America

This paper studies the effects of the star ratings system used by Charity Navigator. Using IRS Form 990 data from 2002 to 2019, I find an exogenous one-star increase in a charity's rating from 3 to 4 stars raises contributions by 6%, with even larger effects among smaller charities. Charities respond to these incentives by reporting less spending on administration and fundraising. Bunching analysis shows that some of the response is merely a misreporting of expenses in order to achieve a higher star rating. This suggests that a continuous measure of charity quality would be less distortionary and better inform potential donors about the charity's activities.

Mayo-Navigating The Notches-223.pdf


 
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