volatility achieve the highest earnings. Loss aversion in decision making is correlated with fear, not with other emotions. …

Abstract: We consider the relationship between emotions and decision-making under risk. Specifically, we examine the … of emotions: fear, happiness, anger, and surprise, is positively correlated, with risk-averse decisions. …

between employment and unemployment states are identified using monthly transition expectations. Firstly, it is shown that … expectations have significant predictive power conditional on individual characteristics and a set of time-varying controls. This … allows us to use a two-stage estimation strategy, where expectations are used to explain anticipated changes in employment …

include assumptions on expectations and preferences. We aim at reducing some of these requirements by using direct subjective … information on respondents’ preferences and expectations. The results suggest that individually measured welfare functions and … expectations have predictive power for the variation in consumption across households. Furthermore, estimates of the intertemporal …

Background: General Practitioners have limited means to compete. As quality is hard to observe by patients, GPs have … incentives to signal quality by using instruments patients perceive as quality.<br/>Objectives: We investigate whether GPs … no monetary benefit in doing so, this type of (perceived) quality competition originates from GPs satisfying patients …

In this paper, a worker's productivity is assumed to depend on his own quality and on the average quality of other … workers in the same country. The external effects associated with worker quality give rise to increasing returns to average … worker quality. As a result, free migration generally reduces world output. Within each country, social benefits that induce …

In this paper, a worker s productivity is assumed to depend on his own quality and on the average quality of other … employed workers.In this setting, unemployment benefits that induce low quality workers to leave the labor force have important … relatively high unem-ployment benefits may be favored by a coalition of the unemployed and of high quality employed workers. …