Suchergebnisse

This paper investigates the influence of the political regime on the relative importance of conspicuous consumption. We use the separation of Germany into the communist GDR and the democratic FRG and its reunification in 1990 as a natural experiment. Relying on household data that are representative for Germany, our empirical results strongly indicate that conspicuous consumption is relatively more important in East Germany. Importantly, a significant gap in conspicuous consumption expenditures remains even 18 years after the reunification.

This paper investigates the influence of the political regime on the relative importance of conspicuous consumption. We use the separation of Germany into the communist GDR and the democratic FRG and its reunification in 1990 as a natural experiment. Relying on household data that are representative for Germany, our empirical results strongly indicate that conspicuous consumption is relatively more important in East Germany. Importantly, a significant gap in conspicuous consumption expenditures remains even 18 years after the reunification.

Compensation schemes in which lawyer's fees are contingent on winning the suit are becoming increasingly popular throughout Europe. At the same time, the British rule of legal cost allocation is applicable in many European countries. As a result, it is of policy relevance how their coexistence may be harmonized. This paper uses the litigation-contest framework to analyze the consequences of three different cost-allocation regimes if a plaintiff's attorney is compensated on a contingent fee basis. We compare the equilibrium contest effort, justice, and payoffs for affected parties in the different regimes and find arguments in favor of not reimbursing contingent fees. Adapted from the source document.