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Cognitive abilities and portfolio choice

Christelis, Dimitris; Jappelli, Tullio; Padula, Mario - 2008

indirect participation through mutual funds and retirement accounts. Since the decision to invest in less information … abilities and stockholding is driven by information constraints, rather than by features of preferences or psychological traits …

Persistent link: https://www.econbiz.de/10003831230

Economic literacy : an international comparison

Jappelli, Tullio - 2010

Many studies show that most people are not financially literate and are unfamiliar with even the most basic economic concepts. However, the evidence on the determinants of economic literacy is scant. This paper uses international panel data on 55 countries from 1995 to 2008, merging indicators...

Persistent link: https://www.econbiz.de/10008698004

Investment in financial literacy, social security and portfolio choice

Jappelli, Tullio; Padula, Mario - 2013

We present an intertemporal portfolio choice model where individuals invest in financial literacy, save, allocate their wealth between a safe and a risky asset, and receive a pension when they retire. Financial literacy affects the excess return and the cost of stock market participation. Since...

Persistent link: https://www.econbiz.de/10010200795

Financial advisors : a case of babysitters?

Hackethal, Andreas; Chaliasos, Michaēl; Jappelli, Tullio - 2009

We merge administrative information from a large German discount brokerage firm with regional data to examine if …

Persistent link: https://www.econbiz.de/10003864097

The pricing of digital art

Chen, Yi-Hsuan; Kräussl, Roman; Verwijmeren, Patrick - 2023

The intersection of recent advancements in generative artificial intelligence and blockchain technology has propelled digital art into the spotlight. Digital art pricing recognizes that owners derive utility beyond the artwork's inherent value. We incorporate the consumption utility associated...

Persistent link: https://www.econbiz.de/10014455255

Towards a design-based approach to accounting research

Leuz, Christian - 2023

Armstrong et al. (2022) review the empirical methods used in the accounting literature to draw causal inferences. They document a growing number of studies using quasi-experimental methods and provide a critical perspective on this trend as well as the use of these methods in the accounting...

Persistent link: https://www.econbiz.de/10014234374

Talent discovery, layoff risk and unemployment insurance

Pagano, Marco; Picariello, Luca - 2018

In talent-intensive jobs, workers' quality is revealed by their performance. This enhances productivity and earnings, but also increases layoff risk. Firms cannot insure workers against this risk if they compete fiercely for talent. In this case, the more risk-averse workers will choose less...

Persistent link: https://www.econbiz.de/10011918894

High marginal tax rates on the top 1%?

Kindermann, Fabian; Krueger, Dirk - 2014

In this paper we argue that very high marginal labor income tax rates are an effective tool for social insurance even when households have preferences with high labor supply elasticity, make dynamic savings decisions, and policies have general equilibrium effects. To make this point we construct...

Persistent link: https://www.econbiz.de/10010411559

Strategic transparency and electoral pressure

Moretti, Laura; Suzuki, Toru - 2012

, transparency policy can be an effective signaling device. A more popular challenger can reduce the probability to enhance … transparency, while voters can be better off due to a more informative signaling. It is also shown that a higher level of public … informative signaling. -- Fiscal Transparency ; Electoral Pressure ; Signaling Game ; Perfect Sequential Equilibrium …

Persistent link: https://www.econbiz.de/10009699885

The return to college : selection and dropout risk

Hendricks, Lutz; Leukhina, Oksana - 2014

This paper studies the effect of graduating from college on lifetime earnings. We develop a quantitative model of college choice with uncertain graduation. Departing from much of the literature, we model in detail how students progress through college. This allows us to parameterize the model...

Persistent link: https://www.econbiz.de/10010424979