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To See Is To Believe: Common Expectations in Experimental Asset Markets
Cheung, Stephen L.; Hedegaard, Morten; Palan, Stefan - Institute for the Study of Labor (IZA) - 2012
We challenge the recent claim that mispricing in the experimental asset markets introduced by Smith, Suchanek, and Williams (1988) is merely an artefact of confusion over declining fundamental value, and can be eliminated through appropriate training. We instead propose that when training is...
Persistent link: https://www.econbiz.de/10010735644
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Market vs. Residence Principle: Experimental Evidence on the Effects of a Financial Transaction Tax
Huber, Jürgen; Kirchler, Michael; Kleinlercher, Daniel; … - Institute for the Study of Labor (IZA) - 2014
forms of a FTT and whether their risk attitude is related to these reactions. We find no such relationship, meaning that a … FTT affects traders with different risk tolerances similarly. …
Persistent link: https://www.econbiz.de/10011086480
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Heterogeneous Life-Cycle Profiles, Income Risk and Consumption Inequality
Primiceri, Giorgio; van Rens, Thijs - Institute for the Study of Labor (IZA) - 2007
Was the increase in income inequality in the US due to permanent shocks or merely to an increase in the variance of transitory shocks? The implications for consumption and welfare depend crucially on the answer to this question. We use CEX repeated cross-section data on consumption and income to...
Persistent link: https://www.econbiz.de/10005703321
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Education, Birth Order, and Family Size
Bagger, Jesper; Birchenall, Javier A.; Mansour, Hani; … - Institute for the Study of Labor (IZA) - 2013
Danish administrative data we test the theoretical implications of the model. The data does not reject our theory. We find …
Persistent link: https://www.econbiz.de/10011212756
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Decomposing Changes in Income Risk Using Consumption Data
Blundell, Richard; Low, Hamish; Preston, Ian - Institute for the Study of Labor (IZA) - 2011
We develop a new approach to the decomposition of income risk within a nonstationary model of intertemporal choice. The … approach allows for changes in income risk over the life-cycle and with the business cycle. It requires only repeated cross … decomposing income risk. The approach is used to investigate the changes in income risk in Britain across the inequality growth …
Persistent link: https://www.econbiz.de/10009371904
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Economic Consequences of Mispredicting Utility
Frey, Bruno S.; Stutzer, Alois - Institute for the Study of Labor (IZA) - 2013
In a simple conceptual framework, we organize a multitude of phenomena related to the (mis)prediction of utility. Consequences in terms of distorted choices and lower wellbeing emerge if people have to trade-off between alternatives that are characterized by attributes satisfying extrinsic...
Persistent link: https://www.econbiz.de/10010884223
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Preferences and Biases in Educational Choices and Labor Market Expectations: Shrinking the Black Box of Gender
Reuben, Ernesto; Wiswall, Matthew; Zafar, Basit - Institute for the Study of Labor (IZA) - 2013
competitiveness and risk, this paper investigates whether these behavioral biases and preferences explain gender differences in … and overconfidence, but not risk aversion, is systematically related with expectations about future earnings: individuals …
Persistent link: https://www.econbiz.de/10010959644
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Entrepreneurship: Cause or Consequence of Financial Optimism?
Dawson, Christopher; Meza, David Emmanuel de; Henley, Andrew - Institute for the Study of Labor (IZA) - 2012
psychological disposition and environmental factors, as theory requires if optimism is to be a causal influence on entrepreneurship. …
Persistent link: https://www.econbiz.de/10010959674
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House Price Expectations
Niu, Geng; van Soest, Arthur - Institute for the Study of Labor (IZA) - 2014
Utilizing new survey data collected between 2009 and 2014, this paper analyzes American households' subjective expectations on future home values. We explore the relationship between house price expectations, local economic conditions, and households' individual characteristics. We examine the...
Persistent link: https://www.econbiz.de/10010959803
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Game, Set, and Match: Do Women and Men Perform Differently in Competitive Situations?
Jetter, Michael; Walker, Jay K. - Institute for the Study of Labor (IZA) - 2015
This paper analyzes potential gender differences in competitive environments using a sample of over 100,000 professional tennis matches. We focus on two phenomena of the labor and sports economics literature: the hot-hand and clutch-player effects. First, we find strong evidence for the hot-hand...
Persistent link: https://www.econbiz.de/10011214022