Understanding how individuals discount and evaluate the risks of environmental outcomes is a prime component in designing effective environmental policy. We use an incentivized experimental design to investigate whether subjects' time preferences and risk aversion across the monetary and environmental domains differ. We find that subjects' time preferences are not significantly different across the two domains. In contrast, subjects exhibit a higher degree of risk aversion in the environmental domain. Furthermore, we corroborate earlier results, documenting that women are more risk averse than men in the monetary domain, and show this finding to also hold in the environmental domain.Keywords Risk and time · Discounting · Risk aversion · Domain differences · Environmental domainWe are grateful to Michael Vlassopoulos, Manos Mentzakis, Zacharias Maniadis and Daniel Read for their comments and suggestions. We would also like to thank

We propose a methodology that is generalizable to a broad class of repeated games in order to facilitate operability of belief learning models with repeated-game strategies. The methodology consists of (1) a generalized repeated-game strategy space, (2) a mapping between histories and repeated-game beliefs, and (3) asynchronous updating of repeated-game strategies. We implement the proposed methodology by building on three proven action learning models. Their predictions with repeated-game strategies are then validated with data from experiments with human subjects in four, symmetric 2 × 2 games: Prisoner's Dilemma, Battle of the Sexes, Stag-Hunt, and Chicken. The models with repeated-game strategies approximate subjects' behavior substantially better than their respective models with action learning. Additionally, inferred rules of behavior in the experimental data overlap with the rules of behavior predicted.JEL Classification: C51, C92, C72, D03

Public sector employment relations are at the centre of the Troika's programmes for Greece. These require a reduction of primary public expenditure by 10 percent of GDP, a total redesign of public services and massive privatizations. Public wages have been subject to incremental cuts, together with moves towards weakening the special status of public sector employment.It remains an open question whether the urgent pressure to reduce public expenditure through successive quantitative adjustments may result in successful structural reforms towards a leaner and more efficient public sector.

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Developments in Greek industrial relations suggest that decentralised bargaining is not a panacea. The manufacturing wage structure in Greece has an excep tional course associated with the rise of informal decentralised bargaining. Interindustry wage differentials increased in a period of incomes policies aiming to narrow the wage structure. The influence exerted by inflation and unemployment is, compared to past evidence from the US. and the U.K., quite unconventional. Under informal bargaining, high-wage powerful industrial branches "benefit" from higher inflation and lower unemployment.