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Are Risk Aversion and Impatience Related to Cognitive Ability?

Dohmen, Thomas J.; Falk, Armin; Huffman, David; Sunde, Uwe - 2021

Is the way that people make risky choices, or tradeoffs over time, related to cognitive ability? This paper investigates whether there is a link between cognitive ability, risk aversion, and impatience, using a representative sample of the population and incentive compatible measures. We conduct...

Persistent link: https://www.econbiz.de/10013317128

Human Capital, Mortality and Fertility : A Unified Theory of the Economic and Demographic Transition

Cervellati, Matteo; Sunde, Uwe - 2021

This paper provides a unified theory of the economic and demographic transition. Individuals make optimal decisions about fertility, education of their children and the type and intensity of the investments in their own education. These decisions are affected by different dimensions of mortality...

Persistent link: https://www.econbiz.de/10013316935

Human Capital and Growth : Specification Matters

Sunde, Uwe - 2011

This paper suggests that the weak empirical effect of human capital on growth in existing cross-country studies is partly the result of an inappropriate specification that does not account for the different channels through which human capital affects growth. A systematic replication of earlier...

Persistent link: https://www.econbiz.de/10013120134

The Economic and Demographic Transition, Mortality, and Comparative Development

Cervellati, Matteo - 2013

We propose a unified growth theory to investigate the mechanics generating the economic and demographic transition, and the role of mortality differences for comparative development. The framework can replicate the quantitative patterns in historical time series data and in contemporaneous...

Persistent link: https://www.econbiz.de/10013086663

Is Entrepreneurial Success Predictable? An Ex-Ante Analysis of the Character-Based Approach

Caliendo, Marco; Kritikos, Alexander - 2021

This paper empirically analyzes whether the character-based approach, which is based on the personality structure and the human capital of business founders, allows prediction of entrepreneurial success. A unique data set is used consisting of 414 previously unemployed persons whose personal...

Persistent link: https://www.econbiz.de/10013317164

Managers' Risk Preferences and Firm Training Investments

Caliendo, Marco; Cobb-Clark, Deborah A.; Pfeifer, Harald; … - 2022

We provide the first estimates of the impact of managers' risk preferences on their training allocation decisions. Our conceptual framework links managers' risk preferences to firms' training decisions through the bonuses they expect to receive. Risk-averse managers are expected to select...

Persistent link: https://www.econbiz.de/10013405955

Income, Democracy, and Critical Junctures

Cervellati, Matteo - 2012

Acemoglu, Johnson, Robinson, and Yared (2008) document that the cross-country correlation between income per capita and democracy disappears once including country fixed effects. This paper tests the hypothesis that the effect of income on democracy might differ systematically across countries....

Persistent link: https://www.econbiz.de/10013096152

Life Expectancy and Economic Growth : The Role of the Demographic Transition

Cervellati, Matteo - 2009

In this paper we investigate the causal effect of life expectancy on economic growth by explicitly accounting for the role of the demographic transition. In addition to focusing on issues of empirical identification, this paper emphasizes the role of the econometric specification. We present a...

Persistent link: https://www.econbiz.de/10013159658

Consensual and Conflictual Democratization

Cervellati, Matteo - 2007

We study the process of endogenous democratization from inefficient oligarchic systems in an economy where heterogeneous individuals can get involved in predation activities. The features of democracies are shown to be crucially related to the conditions under which democratization initially...

Persistent link: https://www.econbiz.de/10012778387

The Nature and Predictive Power of Preferences : Global Evidence

Falk, Armin - 2015

for 80,000 individuals, drawn as representative samples from 76 countries around the world, representing 90 percent of … both the world's population and global income. The global distribution of preferences exhibits substantial variation across … systematically with age, gender, and cognitive ability. Around the world, our preference measures are predictive of a wide range of …

Persistent link: https://www.econbiz.de/10013011171