This paper presents new evidence on the distribution of risk attitudes in the population, using a novel set of survey questions and a representative sample of roughly 22,000 individuals living in Germany. Using a question that asks about willingness to take risks in general, on an 11-point...

This paper presents new evidence on the distribution of risk attitudes in the population, using a novel set of survey questions and a representative sample of roughly 22,000 individuals living in Germany. Using a question that asks about willingness to take risks in general, on an 11-point...

This paper presents new evidence on the distribution of risk attitudes in the population, using a novel set of survey questions and a representative sample of roughly 22,000 individuals living in Germany. Using a question that asks about willingness to take risks in general, on an 11-point...

This paper explains why people value self-confidence, and how this concern shapes their informational strategies and intertemporal decisions. The theory has applications in areas as diverse as labour supply, savings and investment, or education and career decisions. People generally have...

This Paper studies the internal commitment mechanisms or ‘personal rules’ (diets, exercise regimens, resolutions, moral or religious precepts, etc.) through which people seek to achieve self-control. Our theory is based on the idea of self-reputation over one’s willpower, which potentially...

This paper studies the interactions between an individual's self-esteem and his social environment - in the workplace, at school, and in personal relationships. Because a person generally has only imperfect knowledge of his own abilities, people who derive benefits from his performance (parent,...

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...

Time-consuming and costly religious rituals pose a puzzle for economists committed to rational choice theories of human behavior. We propose that religious rituals promote in-group trust and cooperation that help to overcome collective-action problems. To test this hypothesis we design field...

The in-group-out-group bias is among the most well documented and widely observed phenomenon in the social sciences. Despite its role in hiring decisions and job discrimination, negotiations, and conflict and competition between groups, economists have paid little attention to the...

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...