ZEW Economist Wins Best Paper Award
AwardsDr Philipp Dörrenberg, Senior Researcher in the Research Group “International Distribution and Redistribution” at the Centre for European Economic Research (ZEW), received the Best Paper Award at the 21st Spring Meeting of Young Economists (SMYE) in Lisbon in March 2016. The SMYE is organised annually by the Economic Association of Young Economists (EAYE) and brings together young international researchers from different fields.
The awarded paper "Asymmetric Labor-Supply Responses to Wage-Rate Changes - Evidence from a Field Experiment" analyses - co-authored with Denvil Duncan and Max Löffler - the effects of wage-rate changes on labour supply using a randomized field experiment in an online labour marketplace. The results provide evidence that wage increases have different effects than wage decreases, suggesting that the labour-supply response to wage changes is asymmetric. This finding is especially strong in the case of extensive wage margins. The award-winning paper thus suggests that a reference-dependent utility function that incorporates loss aversion is the most appropriate way to model labour supply.
For more information please contact:
Dr. Philipp Dörrenberg, Phone +49(0)621/1235-162, E-mail doerrenberg@zew.de