Many economic decisions involve a substantial amount of uncertainty, andtherefore crucially depend on how individuals process probabilistic information. Inthis paper, we investigate the capability for probability judgment in a representativesample of the German population. Our results show that...

This paper complements the experimental literature that has shown theimportance of reciprocity for behaviour in stylized labour markets or otherdecision settings. We use individual measures of reciprocal inclinations in alarge, representative survey, and relate reciprocity to real world labour...

This paper studies risk attitudes using a large representative survey and a complementaryexperiment conducted with a representative subject pool in subjects’ homes. Using aquestion asking people about their willingness to take risks “in general”, we find thatgender, age, height, and...

Th is paper investigates whether risk aversion and impatience are correlated withcognitive ability. We conduct incentive compatible choice experiments measuringrisk aversion, and impatience over an annual time horizon, for a representative sampleof roughly 1,000 German adults. A measure of...

We analyse worker self-selection with a special focus on teachers. The point of the paper is that worker composition is generally endogenous, due to worker self-selection. In a first step we analyse lab experimental data to provide causal evidence on particular sorting patterns. This evidence...