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Life satisfaction, income and personality
Proto, Eugenio; Rustichini, Aldo - 2015
We use personality traits to better understand the relationship between income and life satisfaction. Personality traits mediate the effect of income on life satisfaction. The effect of neuroticism, which measures sensitivity to threat and punishment, is strong in both the British Household...
Persistent link: https://www.econbiz.de/10010479011
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Prospect theory and tax evasion : a reconsideration of the Yitzhaki puzzle
Piolatto, Amedeo; Rablen, Matthew D. - 2013
The standard expected utility model of tax evasion predicts that evasion is decreasing in the marginal tax rate (the Yitzhaki puzzle). The existing literature disagrees on whether prospect theory overturns the puzzle. We disentangle four distinct elements of prospect theory and find loss...
Persistent link: https://www.econbiz.de/10010221551
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Preferences and COVID-19 vaccination intentions
Blondel, Serge; Langot, François; Mueller, Judith E.; … - 2021
This paper shows that prospect theory, extended to account for differences across individuals in their patience and their valuation of the vaccination as a common good can explain why more than 40% of the population has intent to reject the Covid-19 vaccination, as well as the differences in...
Persistent link: https://www.econbiz.de/10012697338
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Household portfolio choice, reference dependence, and the marriage market
Li, Wenchao; Song, Changcheng; Xu, Shu; Yi, Junjian - 2017
This paper bridges the financial market and the marriage market using a reference-dependent mechanism. Male-biased sex ratios induce families with sons to hold more risky assets, since competitive marital payment in a tight market raises the reference level of marriage expenditure for such...
Persistent link: https://www.econbiz.de/10011607605
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The effect of relative concern on life satisfaction : relative deprivation and loss aversion
Leites, Martín; Ramos Morilla, Xavier - 2018
Income comparisons are important for individual well-being. We examine the shape of the relationship between relative income and life satisfaction, and test empirically if the features of the value function of prospect theory carry on to experienced utility. We draw on a unique dataset for a...
Persistent link: https://www.econbiz.de/10011816013
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Mexican immigrants, the labor market and the current population survey : seasonality effects, framing effects, and sensitivity of results
Lozano, Fernando (contributor); Sorensen, Todd (contributor) - 2008
In this paper we compare estimates of immigrants' labor supply assimilation profiles using the Current Population Survey Annual Demographic Files (March ADS) and the Current Population Survey Outgoing Rotation Groups (ORGs). We use a measure that is seemingly consistent across both surveys:...
Persistent link: https://www.econbiz.de/10003652678
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Incentive effects on risk attitude in small probability prospects
Lefebvre, Mathieu; Vieider, Ferdinand M.; Villeval, … - 2009
Most studies on the role of incentives on risk attitude report data obtained from within-subject experimental … paper reports instead between-subject results on the effect of monetary stakes on risk attitudes for small probability … prospects in a laboratory experiment. Under low stakes, we find the typical risk seeking behavior for small probabilities …
Persistent link: https://www.econbiz.de/10003910085
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The ratio bias phenomenon : fact or artifact?
Lefebvre, Mathieu; Vieider, Ferdinand M.; Villeval, … - 2009
The ratio bias - according to which individuals prefer to bet on probabilities expressed as a ratio of large numbers to normatively equivalent or superior probabilities expressed as a ratio of small numbers - has recently gained momentum, with researchers especially in health economics...
Persistent link: https://www.econbiz.de/10003910098
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Explaining the favorite-longshot bias : is it risk-love or misperceptions?
Snowberg, Erik; Wolfers, Justin - 2010
this phenomenon focus on rational gamblers who overbet longshots due to risk-love. The competing behavioral explanations … misperceptions of probability drive the favorite-longshot bias, as suggested by Prospect Theory. -- Pricing under risk ; probability …
Persistent link: https://www.econbiz.de/10003958768
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Narrow bracketing and dominated choices
Rabin, Matthew (contributor); Weizsäcker, Georg (contributor) - 2007
decisionmaker who does not have constant-absolute-risk-averse preferences and who evaluates her decisions one by one, there exists a …
Persistent link: https://www.econbiz.de/10003561617