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Brunnermeier, Markus K.; Parker, Jonathan A. - London School of Economics (LSE) - 2002

This paper introduces a tractable, structural model of subjective beliefs. Since agents that plan for the future care … overestimate the return of their investment and underdiversify. In general equilibrium, agents' prior beliefs are endogenously … and overoptimistic, and consume more than implied by rational beliefs early in life. Third, in choosing when to undertake …

Persistent link: https://www.econbiz.de/10010746723

The contribution of schooling in development accounting: results from a nonparametric upper bound

Caselli, Francesco; Ciccone, Antonio - London School of Economics (LSE) - 2013

How much would output increase if underdeveloped economies were to increase their levels of schooling? We contribute to the development accounting literature by describing a nonparametric upper bound on the increase in output that can be generated by more schooling. The advantage of our approach...

Persistent link: https://www.econbiz.de/10010745364

Financial intermediation, variability and the development process

Carranza, Luis; Galdón-Sánchez, Jose E. - London School of Economics (LSE) - 2000

In this paper we have built a model of financial intermediation that explains the GDP variability pattern of an economy during the development process. In our model, per capita is more volatile in the middle-income economies than in both low and high-income economies. We show that, if the model...

Persistent link: https://www.econbiz.de/10011071114

Performativity, economics and politics: an overview

Cochoy, Franck; Giraudeau, Martin; McFall, Liz - London School of Economics (LSE) - 2010

Persistent link: https://www.econbiz.de/10010884751

Burial sites, informal rights and lost kingdoms: the contesting of land claims in Mpumalanga, South Africa

James, Deborah - London School of Economics (LSE) - 2009

In the new South Africa, the promise of land restitution raised millennial-style expectations amongst dispossessed and dispersed former landholders. Partly prompted by emerging policy discourses, iconic tropes of localised cultural experience such as grave sites, initiation lodges and cattle...

Persistent link: https://www.econbiz.de/10010745761

Impersonal efficiency and the dangers of a fully automated securities exchange

Pardo-Guerra, Juan Pablo; Beunza, Daniel; Millo, Yuval; … - London School of Economics (LSE) - 2010

This report identifies impersonal efficiency as a driver of market automation during the past four decades, and speculates about the future problems it might pose. The ideology of impersonal efficiency is rooted in a mistrust of financial intermediaries such as floor brokers and specialists....

Persistent link: https://www.econbiz.de/10010746489

American idol – 65 years of admiration

Manning, Alan; Shanghavi, Amar - London School of Economics (LSE) - 2014

Since the 1940s Gallup has, every December, asked Americans about the living man and woman they most admire. This paper documents the way in which the types of people who are admired has changed and argues that the responses to this question tells us something about the way in which society has...

Persistent link: https://www.econbiz.de/10011126364

Vertical transmission of overweight: evidence from English adoptees

Costa-Font, Joan; Jofre-Bonet, Mireia; Le Grand, Julian - London School of Economics (LSE) - 2015

We examine the vertical transmission of overweight drawing upon a sample of English children, both adopted and non-adopted, and their families. Our results suggest strong evidence of an intergenerational association of overweight among adoptees, indicating transmission through cultural factors....

Persistent link: https://www.econbiz.de/10011128054

Idiosyncratic and common shocks to investment decisions

Schankerman, Mark - London School of Economics (LSE) - 2001

This Paper shows how microeconomic data on investment plans can be used to study the structure of risk faced by firms. Revisions of investment plans form a martingale, and thus reveal the underlying shocks driving investment. We decompose revisions in investment plans into micro, sector and...

Persistent link: https://www.econbiz.de/10010745166

Comparing willingness-to-pay and subjective well-being in the context of non-market goods

Dolan, Paul; Metcalf, Robert - London School of Economics (LSE) - 2008

based on individuals’ ratings of their happiness or life satisfaction rather than on their preferences. In the context of a … revealed and stated preference data. Stigma in revealed preferences, mental accounting in stated preferences and unspecified …

Persistent link: https://www.econbiz.de/10010884533