Previous research suggests that sports club participation of children in developed countries positively influences the children’s well-being, health as well as human and social capital. We use panel data of a cohort of 1,579 children in Ethiopia and Peru to test these relationships in less...

Previous research in developed countries suggests that sports participation can positively influence child development. We use panel data of a cohort of 658 children in Peru to test this relationship in a less developed country where conditions for child development are worse. To identify the...

Using data from the German Socio-Economic Panel, this paper analyses the effects of spending part of adolescents’ leisure time on playing music or doing sports, or both. We find that while playing music fosters educational outcomes compared to doing sports, particularly so for girls and...

This paper analyzes persuasive advertising and pricing in oligopoly if firms sell differentiated products and consumers have heterogenous social attitudes towards the consumption by others. Deriving product demand from primitives, we show that the demand-enhancing effect of persuasive...

In this paper, we use time-use surveys to examine trends in the allocation of time in five industrialized countries over the last thirty years. Adjusting for changing demographics, we find that leisure time across countries has converged over this period. Specifically, leisure time has declined...

In this paper nonparametric instrumental variable estimation of local average treatment effects (LATE) is extended to incorporate confounding covariates. Estimation of local average treatment effects is appealing since their identification relies on much weaker assumptions than the...

Propensity score matching is a nonparametric technique frequently used for estimating average treatment effects. Yet its applicability is not confined to treatment evaluation. In this paper the propensity score property is generalized to the setting of selection on unobservables. It is shown...

Choosing among a number of available treatments the most suitable for a given subject is an issue of everyday concern. A physician has to choose an appropriate drug treatment or medical treatment for a given patient, based on a number of observed covariates X and prior experience. A case worker...

This paper studies the local robustness of estimators and tests for the conditional location and scale parameters in a strictly stationary time series model. We first derive optimal bounded-influence estimators for such settings under a conditionally Gaussian reference model. Based on these...

We propose a new semi-parametric model for the implied volatility surface, which incorporates machine learning algorithms. Given a starting model, a tree-boosting algorithm sequentially minimizes the residuals of observed and estimated implied volatility. To overcome the poor predicting power of...