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Matching Firms, Managers, and Incentives

Bandiera, Oriana; Guiso, Luigi; Prat, Andrea; Sadun, … - C.E.P.R. Discussion Papers - 2009

We provide evidence on the match between firms, managers and incentives using a new survey designed for this purpose. The survey contains information on a sample of executives' risk preferences and human capital, on the explicit and implicit incentives they face and on the firms they work for....

Persistent link: https://www.econbiz.de/10005662350

Risk Aversion, Wealth and Background Risk

Guiso, Luigi; Paiella, Monica - C.E.P.R. Discussion Papers - 2001

We use household survey data to construct a direct measure of absolute risk aversion based on the maximum price a consumer is willing to pay to enter a lottery. We relate this measure to consumers' endowment and attributes and to measures of background risk. We find that risk aversion is a...

Persistent link: https://www.econbiz.de/10005791378

The Role of Risk Aversion in Predicting Individual Behaviours

Guiso, Luigi; Paiella, Monica - C.E.P.R. Discussion Papers - 2004

consumer is willing to pay to buy a risky asset. We relate this measure to a set of consumers’ decisions that in theory should … consistent with theory. We also use this indicator to address the importance of self-selection when relating indicators of risk …

Persistent link: https://www.econbiz.de/10005123824

The role of intuition and reasoning in driving aversion to risk and ambiguity

Butler, Jeff; Guiso, Luigi; Jappelli, Tullio - C.E.P.R. Discussion Papers - 2011

Using a large sample of retail investors as well as experimental data we find that risk and ambiguity aversion are positively correlated. We show the common link is decision style: intuitive thinkers tolerate more risk and ambiguity than effortful reasoners. One interpretation is that intuitive...

Persistent link: https://www.econbiz.de/10008915807

Time Varying Risk Aversion

Guiso, Luigi; Sapienza, Paola; Zingales, Luigi - C.E.P.R. Discussion Papers - 2013

We use a repeated survey of an Italian bank’s clients to test whether investors’ risk aversion increases following the 2008 financial crisis. We find that both a qualitative and a quantitative measure of risk aversion increases substantially after the crisis. After considering standard...

Persistent link: https://www.econbiz.de/10011083461

Manipulating Reliance on Intuition Reduces Risk and Ambiguity Aversion.

Butler, Jeff; Guiso, Luigi; Jappelli, Tullio - C.E.P.R. Discussion Papers - 2013

Prior research suggests that those who rely on intuition rather than effortful reasoning when making decisions are less averse to risk and ambiguity. The evidence is largely correlational, however, leaving open the question of the direction of causality. In this paper, we present experimental...

Persistent link: https://www.econbiz.de/10011083555

Does Local Financial Development Matter?

Guiso, Luigi; Sapienza, Paola; Zingales, Luigi - C.E.P.R. Discussion Papers - 2002

predicted by theory, these effects are weaker for larger firms, which can more easily raise funds outside of the local area …

Persistent link: https://www.econbiz.de/10005667081

Learning to be an Entrepreneur

Guiso, Luigi; Schivardi, Fabiano - C.E.P.R. Discussion Papers - 2005

entrepreneurship to allow for the possibility that entrepreneurial talents may be acquired by watching other entrepreneurs in action …

Persistent link: https://www.econbiz.de/10005497788

What drives women out of entrepreneurship? The joint role of testosterone and culture

Guiso, Luigi; Rustichini, Aldo - C.E.P.R. Discussion Papers - 2011

entrepreneurship so that only women with well above average entrepreneurial skills find it attractive to self-select into … entrepreneurship. This finding can rationalize three facts: a) fewer women than men are entrepreneurs; b) the proportion of women among … entrepreneurs tends to be higher in countries with higher women emancipation; c) women who break the barrier into entrepreneurship …

Persistent link: https://www.econbiz.de/10008854553