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Moral Hazard and Unemployment in Competitive Equilibrium
Rey, Patrick; Stiglitz, Joseph E. - National Bureau of Economic Research - 2024
Principal-agent models take outside options, determining participation and incentive constraints, as given. We construct a general equilibrium model where workers' reservation wages and the maximum punishment acceptable before workers quit are instead determined endogenously. We simultaneously...
Persistent link: https://www.econbiz.de/10014635663
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Cognitive Imprecision and Stake-Dependent Risk Attitudes
Khaw, Mel Win; Li, Ziang; Woodford, Michael - National Bureau of Economic Research - 2022
In an experiment that elicits subjects' willingness to pay (WTP) for the outcome of a lottery, we confirm the fourfold pattern of risk attitudes described by Kahneman and Tversky. In addition, we document a systematic effect of stake sizes on the magnitude and sign of the relative risk premium,...
Persistent link: https://www.econbiz.de/10013388772
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Multiple Price Lists for Willingness to Pay Elicitation
Jack, B. Kelsey; McDermott, Kathryn; Sautmann, Anja - National Bureau of Economic Research - 2022
Multiple price lists are a convenient tool to elicit willingness to pay (WTP) in surveys and experiments, but choice patterns such as "multiple switching" and "never switching" indicate high error rates. Existing measurement approaches often do not provide accurate standard errors and cannot...
Persistent link: https://www.econbiz.de/10013388789
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Age and the labor market for Hispanics in the United States
Lahey, Joanna; Mosquera, Roberto M. - National Bureau of Economic Research - 2022
We explore the labor market for Hispanic high school graduates in the United States by age using information from the US Census, American Community Survey, Current Population Survey, and three laboratory experiments. We find, in general, that the differences in outcomes for Hispanic and...
Persistent link: https://www.econbiz.de/10013334390
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The Privacy Elasticity of Behavior : Conceptualization and Application
Dekel, Inbal; Cummings, Rachel; Heffetz, Ori; Ligett, … - National Bureau of Economic Research - 2022
We propose and initiate the study of privacy elasticity--the responsiveness of economic variables to small changes in the level of privacy given to participants in an economic system. Individuals rarely experience either full privacy or a complete lack of privacy; we propose to use differential...
Persistent link: https://www.econbiz.de/10013334433
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The Gender Minority Gaps in Confidence and Self-Evaluation
Aksoy, Billur; Exley, Christine L.; Kessler, Judd B. - National Bureau of Economic Research - 2024
minorities are less confident and provide less favorable self-evaluations than equally performing men on a math and science test …
Persistent link: https://www.econbiz.de/10014468261
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Eliciting Willingness-to-Pay to Decompose Beliefs and Preferences that Determine Selection into Competition in Lab Experiments
Chen, Yvonne Jie; Dutz, Deniz; Li, Li; Moon, Sarah; … - National Bureau of Economic Research - 2023
has commonly been attributed to a gender difference in preference for performing in a competition is instead explained by … men being more confident than women in their probability of winning a future (though not necessarily a past) competition …
Persistent link: https://www.econbiz.de/10014447251
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Anti-social norms
Fergusson, Leopoldo; Guerra, José-Alberto; Robinson, … - National Bureau of Economic Research - 2024
Since formal rules can only partially reduce opportunistic behavior, third-party sanctioning to promote fairness is critical to achieving desirable social outcomes. Social norms may underpin such behavior, but they can also undermine it. We study one such norm the "don't be a toad" norm, as it...
Persistent link: https://www.econbiz.de/10014635680
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Anti-Lemons : School Reputation and Educational Quality
MacLeod, W. Bentley - 2009
Friedman (1962) argued that a free market in which schools compete based upon their reputation would lead to an …: school reputation in the spirit of Holmstrom (1982). The first result is that if schools cannot select students based upon … are allowed to select on ability, then competition leads to stratification by parental income, increased transmission of …
Persistent link: https://www.econbiz.de/10012463538
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Don't Spread Yourself Too Thin : The Impact of Task Juggling on Workers' Speed of Job Completion
Coviello, Decio - 2010
We show that task juggling, i.e., the spreading of effort across too many active projects, decreases the performance of workers, raising the chances of low throughput, long duration of projects and exploding backlogs. Individual speed of job completion cannot be explained only in terms of...
Persistent link: https://www.econbiz.de/10012462155