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Risk Aversion and Human Capital Investment: A Structural Econometric Model

Brodaty, Thomas; Gary-Bobo, Robert J.; Prieto, Ana - C.E.P.R. Discussion Papers - 2006

We propose to model individual educational investments as a rational decision, maximizing expected utility, conditional on some characteristics observed by the student, under the combined risks affecting future wages and schooling duration. Assuming that students' attitudes toward risk can be...

Persistent link: https://www.econbiz.de/10005123629

Estimation of Class-Size Effects, Using 'Maimonides' Rule': The Case of French Junior High Schools

Gary-Bobo, Robert J.; Mahjoub, Mohamed Badrane - C.E.P.R. Discussion Papers - 2006

Using a rich sample of students from French junior high schools with a panel structure, we obtain small but significant and negative effects of class size on probabilities of educational success, in grades 6 and 7. An 8 to 10 student reduction of class size puts the child of a non-educated...

Persistent link: https://www.econbiz.de/10005123884

The Welfare Effects of Bundling in Multichannel Television Markets

Crawford, Gregory S; Yurukoglu, Ali - C.E.P.R. Discussion Papers - 2011

We measure how the bundling of television channels affects welfare. We estimate an industry model of viewership, demand, pricing, bundling, and input market bargaining using data on ratings, purchases, prices, bundles, and input costs. We conduct simulations of à la carte policies that require...

Persistent link: https://www.econbiz.de/10009001064

Religion and Innovation

Bénabou, Roland; Ticchi, Davide; Vindigni, Andrea - C.E.P.R. Discussion Papers - 2015

In earlier work (Bénabou, Ticchi and Vindigni 2013) we uncovered a robust negative association between religiosity and patents per capita, holding across countries as well as US states, with and without controls. In this paper we turn to the individual level, examining the relationship between...

Persistent link: https://www.econbiz.de/10011213308

Culture, Institutions and Democratization

Gorodnichenko, Yuriy; Roland, Gérard - C.E.P.R. Discussion Papers - 2015

We construct a model of revolution and transition to democracy under an individualistic and a collectivist culture. The … culture are more likely to end up adopting democracy faster than countries with a collectivist culture. Our instrumental … variable estimation suggests a strong and robust effect of individualistic culture on average polity scores and length of …

Persistent link: https://www.econbiz.de/10011266531

Product-Based Cultural Change: Is the Village Global?

Maystre, Nicolas; Olivier, Jacques; Thoenig, Mathias; … - C.E.P.R. Discussion Papers - 2009

This paper makes three contributions to the growing literature on culture and economics. Using answers to the World … cultural distance; (iii) trade openness has a lock-in effect on culture. Third, we test the model using an instrumental …

Persistent link: https://www.econbiz.de/10005082538

When the State Mirrors the Family: The Design of Pension Systems

Galasso, Vincenzo; Profeta, Paola - C.E.P.R. Discussion Papers - 2011

We study how the prevailing internal organization of the family affected the initial design of pension systems. Our theoretical framework predicts that, in society with weak family ties, pensions systems were introduced to act as a safety net, while in societies with strong ties they replicate...

Persistent link: https://www.econbiz.de/10009399717

Culture, Policies and Labor Market Outcomes

Giavazzi, Francesco; Schiantarelli, Fabio; Serafinelli, … - C.E.P.R. Discussion Papers - 2009

analysis improves upon existing studies of the role of "culture" for labor market outcomes by dealing explicitly with the … do all this we find that culture still matters for women employment rates and for hours worked. However, policies and …

Persistent link: https://www.econbiz.de/10008496460

Cultural and Institutional Bifurcation: China and Europe Compared

Greif, Avner; Tabellini, Guido - C.E.P.R. Discussion Papers - 2010

. How do culture and institutions interact in generating different evolutionary trajectories of societal organizations? Do …

Persistent link: https://www.econbiz.de/10008468568

The Right Amount of Trust

Butler, Jeff; Giuliano, Paola; Guiso, Luigi - C.E.P.R. Discussion Papers - 2009

A vast literature has investigated the relationship between trust and aggregate economic performance. We investigate the relationship between individual trust and individual economic performance. We find that individual income is hump-shaped in a measure of intensity of trust beliefs available...

Persistent link: https://www.econbiz.de/10008528520