Narrow search
Showing 1 - 10 of 71
Cover Image
A Parametric Analysis of Prospect Theory's Functionals for the General Population
Booij, Adam S.; Praag, Bernard M. S. van; van de … - Institute for the Study of Labor (IZA) - 2009
This paper presents the results of an experiment that completely measures the utility function and probability weighting function for different positive and negative monetary outcomes, using a representative sample of N = 1935 from the general public. The results confirm earlier findings in the...
Persistent link: https://www.econbiz.de/10005822425
Cover Image
Life Satisfaction, Income and Personality
Proto, Eugenio; Rustichini, Aldo - Institute for the Study of Labor (IZA) - 2015
We use personality traits to better understand the relationship between income and life satisfaction. Personality traits mediate the effect of income on life satisfaction. The effect of neuroticism, which measures sensitivity to threat and punishment, is strong in both the British Household...
Persistent link: https://www.econbiz.de/10011168446
Cover Image
Prospect Theory and Tax Evasion: A Reconsideration of the Yitzhaki Puzzle
Piolatto, Amedeo; Rablen, Matthew D. - Institute for the Study of Labor (IZA) - 2013
The standard expected utility model of tax evasion predicts that evasion is decreasing in the marginal tax rate (the Yitzhaki puzzle). The existing literature disagrees on whether prospect theory overturns the puzzle. We disentangle four distinct elements of prospect theory and find loss...
Persistent link: https://www.econbiz.de/10010884369
Cover Image
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 … dramatic consequences. To test whether the overconfidence bias affects the decision of backcountry skiers to go on a ski trip …
Persistent link: https://www.econbiz.de/10011269609
Cover Image
Sexual Bias and Household Consumption: A Semiparametric Analysis of Engel Curves in Rural China
Gong, Xiaodong; van Soest, Arthur; Zhang, Ping - Institute for the Study of Labor (IZA) - 2000
children, which can be seen as evidence of sexual bias related to a commonly believed existing preference for boys. …
Persistent link: https://www.econbiz.de/10005822726
Cover Image
Minimizing Bias in Selection on Observables Estimators When Unconfoundness Fails
Millimet, Daniel L.; Tchernis, Rusty - Institute for the Study of Labor (IZA) - 2008
We characterize the bias of propensity score based estimators of common average treatment effect parameters in the case …
Persistent link: https://www.econbiz.de/10005822784
Cover Image
Social Ties and Subjective Performance Evaluations: An Empirical Investigation
Breuer, Kathrin; Nieken, Petra; Sliwka, Dirk - Institute for the Study of Labor (IZA) - 2010
We empirically investigate possible distortions in subjective performance evaluations. A key hypothesis is that evaluations are more upward biased the closer the social ties between supervisor and appraised employee. We test this hypothesis with a company data set from a call center organization...
Persistent link: https://www.econbiz.de/10008560755
Cover Image
Non-Response Biases in Surveys of School Children: The Case of the English PISA Samples
Micklewright, John; Schnepf, Sylke V.; Skinner, Chris - Institute for the Study of Labor (IZA) - 2010
We analyse response patterns to an important survey of school children, exploiting rich auxiliary information on respondents' and non-respondents' cognitive ability that is correlated both with response and the learning achievement that the survey aims to measure. The survey is the Programme for...
Persistent link: https://www.econbiz.de/10008592862
Cover Image
School Quality, Educational Attainment and Aggregation Bias
Fertig, Michael; Wright, Robert E. - Institute for the Study of Labor (IZA) - 2004
Data from 31 countries participating in the Programme for International Student Assessment (PISA) is used to estimate education production functions for reading literacy. The analysis suggests that the probability of finding statistically significant and correctly signed class size effects...
Persistent link: https://www.econbiz.de/10005703180
Cover Image
Bias Corrections for Two-Step Fixed Effects Panel Data Estimators
Fernández-Val, Iván; Vella, Francis - Institute for the Study of Labor (IZA) - 2007
This paper introduces bias-corrected estimators for nonlinear panel data models with both time invariant and time …/selection bias. We then estimate the primary equation by fixed effects including an appropriately constructed control function from … both steps might employ nonlinear fixed effects procedures it is necessary to bias adjust the estimates due to the …
Persistent link: https://www.econbiz.de/10005703287