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TOBIAS KLEIN ASSISTANT
PROFESSOR
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CONTACT Email:
T.J.Klein at uvt.nl |
VISITORS Room K620 |
POST Tilburg
University |
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PUBLICATIONS Filistrucchi,
L., T.J. Klein, and T.O. Michielsen (forthcoming): Assessing
Unilateral Merger Effects in a Two-Sided Market: An Application to the Dutch
Daily Newspaper Market, Journal of
Competition Law and Economics. A
shorter and less technical version with a slightly different focus will
appear as: Filistrucchi, L., T.J. Klein, and T.O. Michielsen (forthcoming):
Assessing Unilateral Merger Effects in the Daily Newspaper Market, in: J.
Harrington, Y. Katsoulakos, and P. Regibeau (eds.): Advances in the Analysis of Competition Policy and Regulation,
Edward Elgar Publishing. Klein, T.J. (forthcoming): College
Education and Wages in the U.K.: Estimating Conditional Average Structural
Functions in Nonadditive Models with Binary Endogenous Variables, Empirical
Economics. Amann, R. and T.J. Klein (2012): Returns
to Type or Tenure?, Journal of the Royal Statistical Society,
Series A, 175(1), pp. 153-166. Hullegie,
P. and T.J. Klein (2011): “The
effect of private health insurance on doctor visits, hospital nights and
self-assessed health: Evidence from the German Socio-Economic Panel,” Schmollers Jahrbuch, 131(2), pp.
395-407. Hullegie, P. and T.J. Klein (2010): The Effect of Private Health
Insurance on Medical Care Utilization and Self-Assessed Health in Germany,
Health Economics, 19(9), pp. 1048-1062. Klein, T.J. (2010): Heterogeneous
Treatment Effects: Instrumental Variables without Monotonicity?, Journal
of Econometrics, 155(2), pp. 99-116. Klein, T.J., C. Lambertz, G. Spagnolo, and K.O. Stahl
(2009): The Actual Structure
of eBays Feedback Mechanism and Early Evidence on the Effect of Recent
Changes, International Journal
of Electronic Business, 7(3), pp. 301-320. |
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SELECTED WORKING PAPERS (See also http://ideas.repec.org/e/pkl28.html and my vita for work in
progress.) Nudges and Impatience: Evidence
from a Large Scale Experiment We elicit time preferences of a
representative sample of 1,102 Dutch individuals and also confront them with
a series of incentivized investment decisions. There are two treatments which
differ by the frequency at which individuals decide about the invested
amount. The low frequency treatment provides a nudge by stimulating decision
makers to frame a sequence of risky decisions broadly rather than narrowly.
We find that impatient individuals are more “nudgeable” than patient ones as
the effect of the treatment on investment levels is significantly larger
within the group of high discounters than within the group of low
discounters. This result is robust to controlling for various economic and
demographic variables and cognitive ability. This finding is interesting from
a policy perspective because impatient individuals are often the target group
of nudges as impatience is associated with problematic behaviors such as low
savings, little equity holdings, low investments in human capital, and an
unhealthy lifestyle. Ownership
and Control in a Competitive Industry We
study a differentiated product market in which an investor initially owns a
controlling stake in one of two competing firms and may acquire a
non-controlling or a controlling stake in a competitor, either directly using
her own assets, or indirectly via the controlled firm. While industry profits
are maximized within a symmetric two product monopoly, the investor attains
this only in exceptional cases. Instead, she sometimes acquires a
non-controlling stake. Or she invests asymmetrically rather than pursuing a
full takeover if she acquires a controlling one. Generally, she invests
indirectly if she only wants to affect the product market outcome, and
directly if acquiring shares is profitable per se. Merger
Simulation in a Two-Sided Market: The Case of the Dutch Daily Newspapers NET Institute Working Paper 10-15 We develop a structural econometric
framework that allows us to simulate the effects of mergers among two-sided
platforms selling differentiated products. We apply the proposed methodology
to the Dutch newspaper industry. Our structural model encompasses demands for
differentiated products on both sides of the market and profit maximization
by competing oligopolistic publishers who choose subscription and advertising
prices, while taking the interactions between the two-sides of the market
into account. We measure the sign and size of the indirect network effects
between the two sides of the market and simulate the effects of a
hypothetical merger on prices and welfare. Retirement
and Subjective Well-Being joint with Eric Bonsang We provide an explanation for the common finding that the
effect of retirement on life satisfaction is negligible. For this we use
subjective well-being measures for life and domains of life satisfaction that
are available in the German Socio-Economic Panel (GSOEP) and show that the
effect of voluntary retirement on satisfaction with current household income
is negative, while the effect on satisfaction with leisure is positive. At
the same time, the effect on health satisfaction is positive but small.
Following the life domain approach we then argue that these effects offset
each other for an average individual and that therefore the overall effect is
negligible. Furthermore, we show that it is important to distinguish between
voluntary and involuntary retirement. The effect of involuntary retirement is
negative because the adverse effect on satisfaction with household income is
bigger, the favorable effect on satisfaction with leisure is smaller, and the
effect on satisfaction with health is negative rather than positive. These
results turn out to be robust to using different identification strategies
such as fixed effects and first differences estimation, as well as
instrumental variables estimation using eligibility ages and plant closures
as instruments for voluntary and involuntary retirement, respectively. |
© Tobias Klein
2011