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Overconfident People Are More Exposed to "Black Swan" Events: A Case Study of Avalanche Risk
Bonini, Nicolao; Pighin, Stefania; Rettore, Enrico; … - Institute for the Study of Labor (IZA) - 2015
Overconfidence is a well-established bias in which someone's subjective confidence in their own judgments is systematically greater than their objective accuracy. There is abundant anecdotal evidence that overconfident people increase their exposure to risk. In this paper, we test whether...
Persistent link: https://www.econbiz.de/10011269609
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Stochastic Choice and Consideration Sets
Manzini, Paola; Mariotti, Marco - Institute for the Study of Labor (IZA) - 2012
We model a boundedly rational agent who suffers from limited attention. The agent considers each feasible alternative with a given (unobservable) probability, the attention parameter, and then chooses the alternative that maximises a preference relation within the set of considered alternatives....
Persistent link: https://www.econbiz.de/10010697237
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A Salience Theory of Choice Errors
Manzini, Paola; Mariotti, Marco - Institute for the Study of Labor (IZA) - 2010
We study a psychologically based foundation for choice errors. The decision maker applies a preference ranking after forming a 'consideration set' prior to choosing an alternative. Membership of the consideration set is determined both by the alternative specific salience and by the rationality...
Persistent link: https://www.econbiz.de/10008550521
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HRM Practices and Performance of Family-Run Workplaces: Evidence from the 2004 WERS
Siebert, W. Stanley; Peng, Fei; Maimaiti, Yasheng - Institute for the Study of Labor (IZA) - 2011
This paper analyses HRM practices of family-run workplaces using the 2004 WERS. Family-ownership and management within workplaces in the corporate sector is our focus. This family-run group represents nationally about 26% of workplaces and 14% of employment. We find that employees in this group...
Persistent link: https://www.econbiz.de/10009220616
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Evidence and Persistence of Education Inequality in an Early-Tracking System: The German Case
Krause, Annabelle; Schüller, Simone - Institute for the Study of Labor (IZA) - 2014
This article reviews empirical evidence on the early tracking system in Germany and the educational inequalities …
Persistent link: https://www.econbiz.de/10010990917
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Sufficient Statistic or Not? The Elasticity of Taxable Income in the Presence of Deduction Possibilities
Doerrenberg, Philipp; Peichl, Andreas; Siegloch, Sebastian - Institute for the Study of Labor (IZA) - 2014
several tax reforms that were implemented in Germany between 2001 and 2008. Our baseline estimates indicate an overall ETI of …
Persistent link: https://www.econbiz.de/10010990918
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Documentation IZAΨMOD v3.0: The IZA Policy Simulation Model
Loeffler, Max; Peichl, Andreas; Pestel, Nico; Siegloch, … - Institute for the Study of Labor (IZA) - 2014
This paper describes IZAΨMOD, the policy microsimulation model of the Institute for the Study of Labor (IZA). The model uses household microdata from the German Socio-Economic Panel Study and firm data from the German linked employer-employee dataset LIAB. IZAΨMOD consists of three components:...
Persistent link: https://www.econbiz.de/10010990920
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The Dynamics of Social Assistance Benefit Receipt in Germany: State Dependence Before and After the 'Hartz Reforms'
Königs, Sebastian - Institute for the Study of Labor (IZA) - 2014
In this article, I study state dependence in social assistance receipt in Germany using annual survey data from the … persistence rates and the absolute level of structural state dependence are higher in Eastern Germany than in Western Germany. I …
Persistent link: https://www.econbiz.de/10010884120
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Do Literacy and Numeracy Pay Off? On the Relationship between Basic Skills and Earnings
Antoni, Manfred; Heineck, Guido - Institute for the Study of Labor (IZA) - 2012
Is there a reward for basic skills in the German labor market? To answer this question, we examine the relationship between literacy, numeracy and monthly gross earnings of full-time employed workers. We use data from the ALWA survey, augmented by test scores on basic cognitive skills as well as...
Persistent link: https://www.econbiz.de/10010884134
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Not So Standard Anymore? Employment Duality in Germany
Eichhorst, Werner; Tobsch, Verena - Institute for the Study of Labor (IZA) - 2014
on the changing patterns of labour market segmentation or 'dualization' of employment in Germany. While labour market … duality in Germany can partially be attributed to labour market reforms promoting, in particular, non-standard forms of … contributed to the expansion of overall labour market inclusion and job growth in Germany and that at least some forms of non …
Persistent link: https://www.econbiz.de/10010884164