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We use a novel method to elicit and measure higher order risk preferences (prudence and temperance) in an experiment … prudence - are strongly related to adolescents' field behavior, including their financial decision making, eco …-friendly behavior, and health status, including addictive behavior. Most importantly, we show that dropping prudence and temperance from …
Persistent link: https://www.econbiz.de/10012285580
"prudence effect" offers some clues for a more nuanced interpretation of the attitudes towards monitoring by firms and workers. …
Persistent link: https://www.econbiz.de/10014534559
Persistent link: https://www.econbiz.de/10002093504
Persistent link: https://www.econbiz.de/10001829225
Using the large-scale German Socio-Economic Panel, this note reports direct empirical evidence for significant correlations between risk aversion and labour market outcomes (full-time employment, temporary agency work, fixed-term contracts, employer change, quits, training, wages, and job...
Persistent link: https://www.econbiz.de/10003719634
In recent years considerable interest has developed in going 'beyond GDP' to develop measures of economic progress which are more explicitly based on human wellbeing. This work has been inspired, in part, by Sen's non-utilitarian approach to welfare economics, but has been constrained by a lack...
Persistent link: https://www.econbiz.de/10011455707
Using four rounds (1999, 2002, 2005, 2008) of the Korean Labor and Income Panel Study (KLIPS), this article examines determinants of household income and consumption levels and inequalities. Unconditional as well as conditional stochastic dominance (SD) tests are performed by year, by household...
Persistent link: https://www.econbiz.de/10010211170
When is one distribution (of income, consumption, or some other economic variable) more equal or better than another? This question has proven difficult to answer in situations where distribution functions intersect and no unambiguous ranking can be attained without introducing weaker criteria...
Persistent link: https://www.econbiz.de/10010212989
This paper asks whether prioritarianism - the view that social welfare orderings should give explicit priority to the worse-off - is consistent with the normative theory of equality of opportunity. We show that there are inherent tensions between some of the axioms underpinning prioritarianism...
Persistent link: https://www.econbiz.de/10012431403
We estimate a dynamic programming model of schooling decisions in which the degree of risk aversion can be inferred from schooling decisions. In our model, individuals are heterogeneous with respect to school and market abilities but homogeneous with respect to the degree of risk aversion. We...
Persistent link: https://www.econbiz.de/10011411833