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Willingness to take risk : the role of risk conception and optimism
Dohmen, Thomas; Quercia, Simone; Willrodt, Jana - 2018
strongly associated with optimism, a stable facet of personality and that it predicts real-life risk taking. The general risk … why risk taking is related to optimism. …
Persistent link: https://www.econbiz.de/10011880595
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On the psychology of the relation between optimism and risk taking
Dohmen, Thomas; Quercia, Simone; Willrodt, Jana - 2022
In this paper, we provide an explanation for why risk taking is related to optimism. Using a laboratory experiment, we … show that the degree of optimism predicts whether people tend to focus on the positive or negative outcomes of risky … behavior. This suggests that dispositional optimism may affect risk taking mainly by shifting attention to specific outcomes …
Persistent link: https://www.econbiz.de/10013470547
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Exponential growth bias in the prediction of COVID-19 spread and economic expectation
Banerjee, Ritwik; Majumdar, Priyama - 2020
Exponential growth bias (EGB) is the pervasive tendency of people to perceive a growth process as linear when, in fact, it is exponential. In this paper, we document that people exhibit EGB when asked to predict the number of COVID-19 positive cases in the future. The bias is positively...
Persistent link: https://www.econbiz.de/10012288390
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Does voluntary risk taking affect solidarity? : experimental evidence from Kenya
Strobl, Renate; Wunsch, Conny - 2017
In this study we experimentally investigate whether solidarity, which is a crucial base for informal insurance … have important implications for policies that interact with existing informal insurance arrangements. …
Persistent link: https://www.econbiz.de/10011709599
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Reputation vs selection effects in markets with informational asymmetries
Alysandratos, Theodore; Geōrganas, Sōtērēs; Sutter, … - 2022
In markets with asymmetric information between sellers and buyers, feedback mechanisms are important to increase market efficiency and reduce the informational disadvantage of buyers. Feedback mechanisms might work because of self-selection of more trustworthy sellers into markets with such...
Persistent link: https://www.econbiz.de/10013448173
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Occupation growth, skill prices, and wage inequality
Böhm, Michael; Gaudecker, Hans-Martin von; Schran, Felix - 2019
This paper studies the relationship between changes in occupational employment, occupational wages, and rising overall wage inequality. Using long-running administrative panel data with detailed occupation codes, we first document that in all occupations, entrants and leavers earn lower wages...
Persistent link: https://www.econbiz.de/10012120603
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Internationalisation of education and returns in the labour market
Poot, Jacques; Roskruge, Matthew - 2013
The education services provided in any given country increasingly contribute to human capital that is employed in another country. On the one hand, graduates may seek to obtain the highest return to the knowledge they gained in their home country by working abroad. On the other hand, some...
Persistent link: https://www.econbiz.de/10010204511
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Hidden insurance in a moral hazard economy
Bertola, Giuseppe; Koeniger, Winfried - 2013
with effort-determined probability. We show that if insurance against a negative shock is sufficiently incomplete, then … standard functional form restrictions ensure that individual objective functions are optimized by an effort and insurance … combination that is unique and satisfies first- and second-order conditions. Modeling insurance incompleteness in terms of costly …
Persistent link: https://www.econbiz.de/10010225898
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Disappointment aversion and social comparisons in a real-effort competition
Gächter, Simon; Huang, Lingbo; Sefton, Martin - 2017
We present an experiment to investigate the source of disappointment aversion in a sequential real-effort competition. Specifically, we study the contribution of social comparison effects to the disappointment aversion previously identified in a two-person real-effort competition (Gill and...
Persistent link: https://www.econbiz.de/10011647659
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Economic polarization and antisocial behavior : an experiment
Bigoni, Maria; Bortolotti, Stefania; Nas Özen, Efşan - 2019
Economic inequality may fuel frustration, possibly leading to anger and antisocial behavior. We experimentally study a situation where only the rich can reduce inequality while the poor can express their discontent by destroying the wealth of a rich counterpart with whom they had no previous...
Persistent link: https://www.econbiz.de/10012064378