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Experts' Awards and Economic Success: Evidence from an Italian Literary Prize
Ponzo, Michela; Scoppa, Vincenzo - Institute for the Study of Labor (IZA) - 2015
Product quality is often unobservable ex-ante and consumers rely on experts' judgments, sometimes in the form of ratings or awards. Do awards affect consumers' choices or, conversely, are they conferred on the most popular products? To disentangle this issue, we use data about the most important...
Persistent link: https://www.econbiz.de/10011167199
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Growing Up in a Recession: Beliefs and the Macroeconomy
Giuliano, Paola; Spilimbergo, Antonio - Institute for the Study of Labor (IZA) - 2009
Do generations growing up during recessions have different socio-economic beliefs than generations growing up in good times? We study the relationship between recessions and beliefs by matching macroeconomic shocks during early adulthood with self-reported answers from the General Social Survey....
Persistent link: https://www.econbiz.de/10004976895
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Family Values and the Regulation of Labor
Alesina, Alberto; Algan, Yann; Cahuc, Pierre; Giuliano, … - Institute for the Study of Labor (IZA) - 2010
Flexible labor markets require geographically mobile workers to be efficient. Otherwise, firms can take advantage of the immobility of workers and extract monopsony rents. In cultures with strong family ties, moving away from home is costly. Thus, individuals with strong family ties rationally...
Persistent link: https://www.econbiz.de/10008522420
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Revolutionary Effects of New Information Technologies
Berg, Gerard J. van den - Institute for the Study of Labor (IZA) - 2005
In markets with imperfect information and heterogeneity, the information technology affects the rate at which agents meet, which in turn affects the distribution of production technologies across firms. We show that in models for such markets there are typically multiple equilibria because...
Persistent link: https://www.econbiz.de/10005822460
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Identity, Dignity and Taboos: Beliefs as Assets
Bénabou, Roland; Tirole, Jean - Institute for the Study of Labor (IZA) - 2007
We analyze social and economic phenomena involving beliefs which people value and invest in, for affective or functional reasons. Individuals are at times uncertain about their own "deep values" and infer them from their past choices, which then come to define "who they are". Identity...
Persistent link: https://www.econbiz.de/10005703370
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Risk, Balanced Skills and Entrepreneurship
Hsieh, Chihmao; Parker, Simon C.; van Praag, Mirjam - Institute for the Study of Labor (IZA) - 2011
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 …
Persistent link: https://www.econbiz.de/10009395440
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The Radical Innovation Investment Decision Refined
Bilkic, Natasa; Gries, Thomas; Naudé, Wim - Institute for the Study of Labor (IZA) - 2013
We refine modelling of the radical innovation decision in this paper by extending real option theory to include non-marginal stochastic jump processes. From the model analytics we determine that the average magnitude and frequency of non-marginal stochastic jump processes are the most important...
Persistent link: https://www.econbiz.de/10010791525
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A Reconsideration of Gender Differences in Risk Attitudes
Filippin, Antonio; Crosetto, Paolo - Institute for the Study of Labor (IZA) - 2014
This paper reconsiders the wide agreement that females are more risk averse than males providing a leap forward in its …
Persistent link: https://www.econbiz.de/10010775114
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The Impact of Risk Perception and Risk Attitudes on Corrupt Behavior: Evidence from a Petty Corruption Experiment
Djawadi, Behnud Mir; Fahr, René - Institute for the Study of Labor (IZA) - 2013
accepting a bribe that leads to a higher present period income while facing the risk of being audited and being left with a … considerable lower income in all subsequent periods. Because risk attitudes might differ when putting earned versus endowed income … at risk, we compare treatments where participants either receive an endowment beforehand, or earn their income by …
Persistent link: https://www.econbiz.de/10010658704
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Impatience and Uncertainty: Experimental Decisions Predict Adolescents' Field Behavior
Sutter, Matthias; Kocher, Martin G.; Rützler, Daniela; … - Institute for the Study of Labor (IZA) - 2010
We study risk attitudes, ambiguity attitudes, and time preferences of 661 children and adolescents, aged ten to …) and are less likely to save money. Experimental measures for risk and ambiguity attitudes are only weak predictors of …
Persistent link: https://www.econbiz.de/10008805625