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The internal consistency of the standard gamble: tests after adjusting for prospect theory

Oliver, Adam - London School of Economics (LSE) - 2003

incorporating loss weighting and probability transformation parameters in the standard gamble valuation procedure. Five alternatives … prospect theory framework, (2) loss weighting and full probability transformation, (3) no loss weighting and full probability … transformation, (4) loss weighting and no probability transformation, and (5) loss weighting and partial probability transformation …

Persistent link: https://www.econbiz.de/10010928594

Evaluating the economic significance of downward nominal wage rigidity

Elsby, Michael W. L. - London School of Economics (LSE) - 2005

This paper seeks to contribute to the literature on downward nominal wage rigidity (DNWR) along two dimensions. First, we formulate and solve an explicit model of wage-setting in the presence of worker resistance to nominal wage cuts - something that has previously been considered intractable....

Persistent link: https://www.econbiz.de/10010746448

Assessing the effect of school days and absences on test score performance

Aucejo, Esteban; Romano, Teresa - London School of Economics (LSE) - 2014

While instructional time is viewed as crucial to learning, little is known about the effectiveness of reducing absences relative to increasing the number of school days. In this regard, this paper jointly estimates the effect of absences and length of the school calendar on test score...

Persistent link: https://www.econbiz.de/10011126031

Your loss is my gain: a recruitment experiment with framed incentives

de Quidt, Jonathan - London School of Economics (LSE) - 2014

identical contracts presented as paying a bonus for success, an effect attributed to loss aversion. This is puzzling, as … penalties are infrequently used in practice. The most obvious explanation is selection: loss averse agents are unwilling to …

Persistent link: https://www.econbiz.de/10011126188

Money, well-being and loss aversion: does an income loss have a greater effect on well-being than an equivalent income gain?

Banks, James; Brown, Gordon D.A.; Boyce, Christopher J.; … - London School of Economics (LSE) - 2014

? Loss aversion, whereby losses loom larger than gains, is typically examined with relation to decisions about anticipated … diminishing returns to well-being of income. Our findings show that loss aversion applies to experienced losses, counteracting … suggestions that loss aversion is only an affective forecasting error. Longitudinal studies of the income/well-being relationship …

Persistent link: https://www.econbiz.de/10011126714

The asymmetric experience of positive and negative economic growth: global evidence using subjective well-being data

De Neve, Jan-Emmanuel; Ward, George W.; de Keulenaer, Femke - London School of Economics (LSE) - 2014

Are individuals more sensitive to losses than gains in macroeconomic growth? Using subjective well-being measures across three large data sets, we observe an asymmetry in the way positive and negative economic growth are experienced, with losses having more than twice as much impact on...

Persistent link: https://www.econbiz.de/10011206863

Peer effects in science: evidence from the dismissal of scientists in Nazi Germany

Waldinger, Fabian - London School of Economics (LSE) - 2009

This paper analyzes peer effects among university scientists. Specifically, it investigates whether the number of peers and their average quality affects the productivity of researchers in physics, chemistry, and mathematics. The usual endogeneity problems related to estimating peer effects are...

Persistent link: https://www.econbiz.de/10010745806

To join or not to join? Factors influencing employee share plan membership in a multinational corporation

Bryson, Alex; Freeman, Richard B. - London School of Economics (LSE) - 2010

Many firms encourage employees to own company stock through share plans that subsidizethe price at favorable rates, but even so many employees do not buy shares. Using a newsurvey of employees in a multinational with a share ownership plan, we find considerablevariation in joining among...

Persistent link: https://www.econbiz.de/10010745984

Peer effects in endogenous networks

Hiller, Timo - London School of Economics (LSE) - 2013

This paper presents a simple model of strategic network formation with local complementarities in effort levels and positive local externalities for a general class of payoff functions. Results are obtained for one-sided and two-sided link creation. In both cases (pairwise) Nash equilibrium...

Persistent link: https://www.econbiz.de/10011126201

Trade unions and the politics of the European social model

Hyman, Richard - London School of Economics (LSE) - 2005

inherent in a neoliberal approach to economic integration, the dominant logic of ‘competitiveness’, and the pressures for …

Persistent link: https://www.econbiz.de/10010884549