We analyze the role of risk-sharing institutions in transitions to modern economies. Transitions requires individual …-level risk-taking in pursuing productivity-enhancing activities including using and developing new knowledge. Individual …-level, idiosyncratic risk implies that distinct risk-sharing institutions – even those providing the same level of insurance – can lead to …

surrounding, the shantytowns of Fortaleza, Northeast Brazil. We use an extensive survey addressing risk factors faced by the …

As China exhibited unprecedented rapid economic growth ever since its reform and openness, the development and sources … of labor productivity has gradually come to the forefront. This paper studies the development and the source of labor …

much. Behind the veil of ignorance, lower happiness inequality would certainly be considered as attractive by risk …

show that an increase in risk-aversion has important implications for economic development. …We study whether natural disasters affect risk-taking behavior exploiting geographic variation in exposure to natural … disasters. We conduct standard risk games (using real money) with randomly selected individuals in Indonesia and find that …

reliable than those at the individual level. Second, development is a qualitative process involving take-off points and … stages and dimensions of the development process. …

paper, we identify the causal effect of child care subsidies on child development by exploiting geographic variation in the …