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In this paper we formulate and investigate experimentally a model of how individuals choose between time sequences of monetary outcomes. The theoretical model assumes that a decision-maker uses, sequentially, two criteria to screen options. Each criterion only permits a decision between some...
Persistent link: https://www.econbiz.de/10003323162
In a recent paper, Hart and Moore (2008) introduce new behavioral assumptions that can explain long term contracts and important aspects of the employment relation. However, so far there exists no direct evidence that supports these assumptions and, in particular, Hart and Moore's notion that...
Persistent link: https://www.econbiz.de/10003793317
This paper studies a partial-contracting model where an agent may provide effort to increase a project’s scope before some later decisions have to be taken. Consistent with existing empirical evidence, we find a positive relationship between exogenous risk and delegation. That is, we show that...
Persistent link: https://www.econbiz.de/10003566282
This paper uses several decades of US time-diary surveys to assess the impact of low-skilled immigration, through lower prices for commercial child care, on parental time investments. Using an instrumental variables approach that accounts for the endogenous location of immigrants, we find that...
Persistent link: https://www.econbiz.de/10009771605
One main motive behind lengthy prison terms for serious crime is to deter potential offenders from engaging in crime. Yet, economic theory predicts that the scope for punishment as acting as a deterrent depends on how much individuals discount future events when balancing the immediate utility...
Persistent link: https://www.econbiz.de/10010355861
Do drivers reduce speeds when gasoline prices are high? Previous research investigating this energy conservation hypothesis produced mixed results. We take a fresh look at the data and estimate a significant negative relationship between speeding and gasoline prices. This presents a new...
Persistent link: https://www.econbiz.de/10009580536
In many Western countries, the relative weight of people - measured by the Body Mass Index (BMI) - has increased substantially in recent years, leading to an increasing incidence of overweight and related health problems. As with many forms of risky behavior, it is plausible that overweight is...
Persistent link: https://www.econbiz.de/10002805498
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Persistent link: https://www.econbiz.de/10001733997
Instruction time varies among schools, subjects, pupils and grades. This variation is positively associated with test scores and has been used to identify modest positive causal effects for instruction hours in certain grades. We exploit administrative data on delivered and timetabled...
Persistent link: https://www.econbiz.de/10011910714