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Overconfident people are more exposed to "black swan" events : a case study of avalanche risk
Bonini, Nicolao; Pighin, Stefania; Rettore, Enrico; … - 2015
Overconfidence is a well-established bias in which someone's subjective confidence in their own judgments is systematically greater than their objective accuracy. There is abundant anecdotal evidence that overconfident people increase their exposure to risk. In this paper, we test whether...
Persistent link: https://www.econbiz.de/10010513329
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It's where you work : increases in earnings dispersion across establishments and individuals in the US
Barth, Erling; Bryson, Alex; Davis, James C.; Freeman, … - 2014
earnings among individuals into the part due to changes in earnings among establishments and the part due to changes in … earnings within-establishments and finds that much of the 1970s-2010s increase in earnings inequality results from increased … dispersion of the earnings among the establishments where individuals work. It also shows that the divergence of establishment …
Persistent link: https://www.econbiz.de/10010403444
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A salience theory of choice errors
Manzini, Paola; Mariotti, Marco - 2010
We study a psychologically based foundation for choice errors. The decision maker applies a preference ranking after forming a 'consideration set' prior to choosing an alternative. Membership of the consideration set is determined both by the alternative specific salience and by the rationality...
Persistent link: https://www.econbiz.de/10003976811
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Modeling employment dynamics with state dependence and unobserved heterogeneity
Prowse, Victoria - 2010
This paper extends existing work on labor force participation dynamics by distinguishing between full-time and part-time employment and allowing unobserved heterogeneity in the effects of previous employment outcomes, children and education on employment dynamics. The results reveal significant...
Persistent link: https://www.econbiz.de/10003958927
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Household choices of child labor and schooling : a simple model with application to Brazil
Kruger, Diana (contributor);  … - 2007
This paper develops and estimates a simple structural model of household decisions regarding child labor and schooling. We argue that part of the conflicting results from the previous literature related to the effect of improvements in economic conditions on child labor derives from the...
Persistent link: https://www.econbiz.de/10003591980
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Layoffs as part of an optimal incentive mix : theory and evidence
Frederiksen, Anders (contributor);  … - 2006
Firms offer highly complex contracts to their employees. These contracts contain a mix of incentives, such as fixed wages, bonus payments, promotion options, and layoff threats. In general, economists understand how incentives motivate employees but not why a particular mix should be used. In...
Persistent link: https://www.econbiz.de/10003499735
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Ugly criminals
Mocan, Naci (contributor); Tekin, Erdal (contributor) - 2006
Using data from three waves of Add Health we find that being very attractive reduces a young adult's (ages 18-26) propensity for criminal activity and being unattractive increases it for a number of crimes, ranging from burglary to selling drugs. A variety of tests demonstrate that this result...
Persistent link: https://www.econbiz.de/10003301665
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Labor mobility across the formal/informal divide in Turkey : evidence from individual level data
Tansel, Aysıt; Öznur Kan, Elif - 2012
Informality has long been a salient phenomenon in developing country labor markets, thus has been addressed in several theoretical and empirical research. Turkey, given its economic and demographic dynamics, provides rich evidence for a growing, heterogeneous and multifaceted informal labor...
Persistent link: https://www.econbiz.de/10009529580
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Pregibit: a family of discrete choice models
Vijverberg, Chu-ping C.; Vijverberg, Wim P. M. - 2012
The pregibit discrete choice model is built on a distribution that allows symmetry or asymmetry and thick tails, thin tails or no tails. Thus the model is much richer than the traditional models that are typically used to study behavior that generates discrete choice outcomes. Pregibit nests...
Persistent link: https://www.econbiz.de/10009531520
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Testing for IIA with the Hausman-McFadden test
Vijverberg, Wim P. M. - 2011
The Independence of Irrelevant Alternatives assumption inherent in multinomial logit models is most frequently tested with a Hausman-McFadden test. As is confirmed by many findings in the literature, this test sometimes produces negative outcomes, in contradiction of its asymptotic x2...
Persistent link: https://www.econbiz.de/10009310069