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A large literature shows that people discount financial rewards hyperbolically instead of exponentially. While discounting of money has been questioned as a measure of time preferences, it continues to be highly relevant in empirical practice and predicts a wide range of real-world behaviors,...
Persistent link: https://www.econbiz.de/10014447758
Ambiguous prospects are ubiquitous in social and economic life, but the psychological foundations of behavior under ambiguity are still not well understood. One of the most robust empirical regularities is the strong correlation between attitudes towards ambiguity and compound risk which...
Persistent link: https://www.econbiz.de/10014551421
This paper introduces a formal definition and an experimental measurement of the concept of cognitive uncertainty: people's subjective uncertainty about what the optimal action is. This concept allows us to bring together and partially explain a set of behavioral anomalies identified across four...
Persistent link: https://www.econbiz.de/10012138914
Persistent link: https://www.econbiz.de/10003623990
(UI), and employment protection legislation (EPL). It is argued that research on UI is largely a success story, involving … a fruitful interplay between search theory and empirical work. This research has established that UI matters for labor … result of frequent failures to find noticeable employment effects despite considerable effects on wages. EPL research has …
Persistent link: https://www.econbiz.de/10010231630
relatively strict employment protection regulations have a positive influence on suicide mortality. These findings indicate that …
Persistent link: https://www.econbiz.de/10010375378
We study the effects of employment protection taking into account that firms can invest in R&D or buy new technologies … innovation market. If employment protection is introduced, firms’ willingness to pay for product or process innovations increases …
Persistent link: https://www.econbiz.de/10010496891
the labour-market effects of dual employment protection legislation are revisited, as well as factors behind its … dead-end nature of temporary contracts, their effects on employment, unemployment, churn, training, productivity growth …, in particular in several countries that had very poor employment performance during the recent global economic and …
Persistent link: https://www.econbiz.de/10011966680
Using population-level administrative data, we study labor market externalities stemming from age-specific employment … EPL on employment or earnings of either men or women approaching eligibility. Considering separately incumbent workers and … non-employees we find small positive and small negative employment effects for the former and the latter groups …
Persistent link: https://www.econbiz.de/10014521189
Leveraging a major Italian reform enacted in June 2012 that eroded employment protection to workers on permanent …-by-event research design, which compares workers moving into nonemployment before and after the reform. Weakening employment protection … led to additional penalties in terms of lower re-hiring earnings and lower re-employment probabilities. Heterogeneous …
Persistent link: https://www.econbiz.de/10015081326