We use a representative sample of informal entrepreneurs in Madagascar to add new evidence on the magnitude of the …

females 12 to 25 years of age in Madagascar, explicitly accounting for the endogeneities that arose from modeling these …

This paper measured the extent to which households in Madagascar adjust children's school attendance in order to cope … rigidities, explain the inability of households in Madagascar to keep their children in school during times of economic distress. …

incomplete contract. It is shown that the efficiency of these solutions is very sensitive to the characteristics of the good or …

stereotype of risk averse and less competitive older employees. …

Investing in human capital increases lifetime income, but these investments may involve substantial risk. In this paper … vocational high school. Accounting for risk does little to change this picture. By contrast, vocational high school is associated …

This paper proposes that risk aversion encourages individuals to invest in balanced skill profiles, making them more … the impacts both of risk aversion and balanced skills on the likelihood individuals choose entrepreneurship. Data on Dutch … university graduates provides evidence which supports this contention. It thereby raises the possibility that even risk …

exogenous risk and delegation. That is, we show that only if exogenous risk is sufficiently large, the risk-neutral principal … may prefer to delegate authority over decisions to the risk-averse agent. Intuitively, for incentive reasons, the … principal may optimally want to allow the agent to reduce his risk exposure. Nevertheless, even endogenous risk may be higher …