Narrow search
Showing 1 - 10 of 206
Cover Image
Subjective Income Expectations and Income Risk
Ramos, Xavier; Schluter, Christian - Institute for the Study of Labor (IZA) - 2006
In the context of income dynamics, we investigate whether aspects of agents’ superior information relative to the econometrician’s limited information are captured in subjective expectations data. It is natural, for instance, to assume that the econometrician cannot observe idiosyncratic...
Persistent link: https://www.econbiz.de/10005822356
Cover Image
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
Cover Image
Randomizing Endowments: An Experimental Study of Rational Expectations and Reference-Dependent Preferences
Götte, Lorenz; Harms, Annette; Sprenger, Charles - Institute for the Study of Labor (IZA) - 2014
An important advance in the study of reference-dependent preferences is the discipline provided by coherent accounts of reference point formation. Kőszegi and Rabin (2006) provide such discipline by positing a reference point grounded in rational expectations. We examine the predictions of...
Persistent link: https://www.econbiz.de/10011078395
Cover Image
What Happiness Research Can Tell Us About Self-Control Problems and Utility
Stutzer, Alois; Frey, Bruno S. - Institute for the Study of Labor (IZA) - 2006
Neoclassical economic theory rules out systematic errors in consumption choice. According to the basic view, individuals know what they choose. They are able to predict how much utility an activity or a good produces for them now and in the future and they can maximize their utility. This...
Persistent link: https://www.econbiz.de/10005703642
Cover Image
Better Means More: Property Rights and High-Growth Aspiration Entrepreneurship
Estrin, Saul; Korosteleva, Julia; Mickiewicz, Tomasz - Institute for the Study of Labor (IZA) - 2009
This paper contrasts the determinants of entrepreneurial entry and high-growth aspiration entrepreneurship. Using the Global Entrepreneurship Monitor (GEM) surveys for 42 countries over the period 1998-2005, we analyse how institutional environment and entrepreneurial characteristics affect...
Persistent link: https://www.econbiz.de/10005015496
Cover Image
Win Some Lose Some? Evidence from a Randomized Microcredit Program Placement Experiment by Compartamos Banco
Angelucci, Manuela; Karlan, Dean; Zinman, Jonathan - Institute for the Study of Labor (IZA) - 2013
interest rates. We use a clustered randomized trial, and household surveys of eligible borrowers and their businesses, to …
Persistent link: https://www.econbiz.de/10010884156
Cover Image
Demand Side Analysis of Microlending Markets in Germany
Kritikos, Alexander S.; Kneiding, Christoph; … - Institute for the Study of Labor (IZA) - 2009
In developing and transition economies, microlending has become an effective instrument for providing micro businesses with the necessary financial resources to launch operations. In the industrialized countries, with their highly developed banking systems, however, there has been ongoing debate...
Persistent link: https://www.econbiz.de/10005011900
Cover Image
Mortgage Indebtedness and Household Financial Distress
Georgarakos, Dimitris; Lojschova, Adriana; … - Institute for the Study of Labor (IZA) - 2009
UK, the Netherlands, and Denmark. This is the case after taking into account ppp-adjusted income levels, a rich set of … socioeconomic characteristics, housing traits, country-specific constant terms, and household unobserved heterogeneity. We attribute … access to liquidity. Household's reported distress is also affected by excess indebtedness relative to the debt load of …
Persistent link: https://www.econbiz.de/10008558942
Cover Image
Separating Uncertainty from Heterogeneity in Life Cycle Earnings
Cunha, Flavio; Heckman, James; Navarro, Salvador - Institute for the Study of Labor (IZA) - 2004
This paper develops and applies a method for decomposing cross section variability of earnings into components that are forecastable at the time students decide to go to college (heterogeneity) and components that are unforecastable. About 60% of variability in returns to schooling is...
Persistent link: https://www.econbiz.de/10005822068
Cover Image
Cognitive Dissonance, Pessimism, and Behavioral Spillover Effects
Dickinson, David L.; Oxoby, Robert J. - Institute for the Study of Labor (IZA) - 2007
This paper reports results from a unique two-stage experiment designed to examine the spillover effects of optimism and pessimism. In stage 1, we induce optimism or pessimism onto subjects by randomly assigning a high or low piece rate for performing a cognitive task. We find that participants...
Persistent link: https://www.econbiz.de/10005822246