Emigration of young, motivated individuals may deprive countries-of-origin of entrepreneurs. We isolate exogenous …

when a decision is complex, they implicitly treat different time delays to some degree alike. By experimentally measuring … when the decision environment is more complex. Third, cognitive uncertainty matters for choice architecture: people who are …

We present new empirical evidence on the distribution of earnings, income and wealth among entrepreneurs in Germany. We … document that both earnings and income are more concentrated among entrepreneurs than among workers and describe a large … of the German pay-as-you-go pension system in which entrepreneurs must also contribute and receive a pension. We show …

In an experiment that elicits subjects’ willingness to pay (WTP) for the outcome of a lottery, we confirm the fourfold …

and decision time. Overall, the data show that more people follow the default if the nudge is made transparent. More … importantly, though, effects of transparency differ depending on whether people are fast or slow in their decision making. In … particular, (only) slow decision makers react more positively (keeping the default) if nudging is made transparent. Moreover, the …