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Public-Private Entanglement: Entrepreneurship in a Hybrid Political Order, the Case of Lebanon

Stel, Nora; Naudé, Wim - Institute for the Study of Labor (IZA) - 2013

The instability and informality that characterize hybrid political orders and its effects on entrepreneurs remains largely unexplored in the scholarly literatures. In this paper we provide initial findings from the case of entrepreneurs' access to electricity in Lebanon. Using quantitative and...

Persistent link: https://www.econbiz.de/10010884305

Hidden Action, Identification, and Organization Design

Schnedler, Wendelin - Institute for the Study of Labor (IZA) - 2010

Incentives often fail in inducing economic agents to engage in a desirable activity; implementability is restricted. What restricts implementability? When does re-organization help to overcome this restriction? This paper shows that any restriction of implementability is caused by an...

Persistent link: https://www.econbiz.de/10008727777

On the Prudence of Rewarding A While Hoping for B

Schnedler, Wendelin - Institute for the Study of Labor (IZA) - 2003

In multiple-task hidden-action models, the (mis-)allocation of effort may play an important role for benefit creation. Signals which capture this benefit and which are used in incentive schemes should thus not only be judged by the noise and the associated costs but also by the mis-allocation...

Persistent link: https://www.econbiz.de/10005761834

Task Difficulty, Performance Measure Characteristics, and the Trade-Off between Insurance and Well-Allocated Effort

Schnedler, Wendelin - Institute for the Study of Labor (IZA) - 2006

When designing incentives for a manager, the trade-off between insurance and a “good” allocation of effort across various tasks is often identified with a trade-off between the responsiveness (sensitivity, precision, signal-noise ratio) of the performance measure and its similarity...

Persistent link: https://www.econbiz.de/10005566602

Circumstantial Risk: Impact of Future Tax Evasion and Labor Supply Opportunities on Risk Exposure

Doerrenberg, Philipp; Duncan, Denvil; Zeppenfeld, … - Institute for the Study of Labor (IZA) - 2014

This paper examines whether risk-taking in a lottery depends on the opportunity to respond to the lottery outcome …/or extra labor effort. We find strong evidence that ex-post access to labor opportunities reduces ex-ante risk willingness … while access to tax evasion has no effect on risk behavior. We discuss possible explanations for this result based on the …

Persistent link: https://www.econbiz.de/10010884336

Measurement Error in Subjective Expectations and the Empirical Content of Economic Models

Drerup, Tilman; Enke, Benjamin; Gaudecker, Hans-Martin von - Institute for the Study of Labor (IZA) - 2014

While stock market expectations are among the most important primitives of portfolio choice models, their measurement has proved challenging for some respondents. We argue that the magnitude of measurement error in subjective expectations can be used as an indicator of the degree to which...

Persistent link: https://www.econbiz.de/10010959574

Banks Information Policies, Financial Literacy and Household Wealth

Fort, Margherita; Manaresi, Francesco; Trucchi, Serena - Institute for the Study of Labor (IZA) - 2012

We investigate the causal effect of financial literacy on financial assets, exploiting banks information policies for identification. In Italy, banks who belong to the PattiChiari consortium have implemented policies aimed at increasing transparency and procedural simplification. These policies...

Persistent link: https://www.econbiz.de/10010959735

Cross-National Differences in Wealth Portfolios at the Intensive Margin: Is There a Role for Policy?

Doorley, Karina; Sierminska, Eva - Institute for the Study of Labor (IZA) - 2014

Using harmonized wealth data and a novel decomposition approach in this literature, we show that cohort effects exist in the income profiles of asset and debt portfolios for a sample of European countries, the U.S. and Canada. We find that the association between household wealth portfolios at...

Persistent link: https://www.econbiz.de/10010959745

The Wealth and Asset Holdings of U.S.-Born and Foreign-Born Households: Evidence from SIPP Data

Cobb-Clark, Deborah A.; Hildebrand, Vincent - Institute for the Study of Labor (IZA) - 2002

SIPP data are used to analyze the wealth of the U.S. foreign-born population. We find that the median wealth level of U.S.-born couples is 2.3 times the median of foreign-born couples, while the median wealth level of U.S.-born singles is three times that of foreign-born singles. Further, there...

Persistent link: https://www.econbiz.de/10005233806

Private Information, Human Capital, and Optimal "Home Bias" in Financial Markets

Ehrlich, Isaac; Shin, Jong Kook; Yin, Yong - Institute for the Study of Labor (IZA) - 2011

By allowing for imperfectly informed markets and the role of private information, we offer new insights about observed deviations of portfolio concentrations in domestic relative to foreign risky assets, or "home bias", from what standard finance models predict. Our model ascribes the "bias" to...

Persistent link: https://www.econbiz.de/10009359859

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