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Randomizing Endowments : An Experimental Study of Rational Expectations and Reference-Dependent Preferences
Goette, Lorenz - 2014
exchange. The experiment tightly tests the predictions of Kőszegi and Rabin (2006), as when the probability of forced exchange …
Persistent link: https://www.econbiz.de/10013043666
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Risk and Saving in Two-Person Households : More Scope for Precautionary Saving
Apps, Patricia F. - 2012
The existing literature suggests that when the saving decision of two-earner households under risk is analysed, standard results on the existence of precautionary saving no longer apply: precautionary saving is obtained if and only if very stringent conditions hold. This paper shows that when...
Persistent link: https://www.econbiz.de/10013099761
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The Likelihood of Divorce and the Riskiness of Financial Decisions
Stark, Oded - 2019
We link causally the riskiness of men's management of their finances with the probability of their experiencing a divorce. Our point of departure is that when comparing single men to married men, the former manage their finances in a more aggressive (that is, riskier) manner. Assuming that...
Persistent link: https://www.econbiz.de/10012864857
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Career Lotto : Labor Supply in Winner-Take-All Markets
Grove, Wayne A. - 2019
Are people prone to selecting occupations with highly skewed income distributions despite minuscule chances of success? Assembling a comprehensive pool of potential teenage entrants into professional tennis (a typical winner-take-all market), we construct objective measures of relative ability...
Persistent link: https://www.econbiz.de/10012894561
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Buying Lottery Tickets for Foreign Workers : Search Cost Externalities Induced by H-1b Policy
Sharma, Rishi; Sparber, Chad - 2021
The H-1B program allows firms in the United States to temporarily hire high-skilled foreign citizens. H-1B workers are highly concentrated among a small number of firms. We develop a theoretical model demonstrating that this phenomenon is an artifact of policy design: When the government...
Persistent link: https://www.econbiz.de/10013314927
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Gambling Habits and Probability Judgements in a Bayesian Task Environment
Dickinson, David L.; Reid, Parker - 2023
information sources. Exploratory analysis, however, revealed interesting effects related to self-reported gambling frequency …-reported gambling frequency was stronger for females. Decision modeling found a decreased weight placed on new evidence (over base rate … frequency of gambling to worse performance in the critical probability assessment skills that should benefit gambling success (i …
Persistent link: https://www.econbiz.de/10014346673
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Revealed Informal Activity
Dimova, Ralitza D. - 2011
What does it mean to be in the informal sector? Many characterizations have been used in the literature, for example, firms that are unregistered or employ a small workforce or firms/economic enterprises that do not have access to formal capital markets. But many people participate in both...
Persistent link: https://www.econbiz.de/10013127331
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Behavioral Economics and the Value of a Statistical Life
Kniesner, Thomas J. - 2019
There are many possible connections between VSL and behavioral economics. A list of topics includes endowment effects, risk salience, ambiguity aversion, present bias, reference groups, reference points, and experienced versus decision utilities. There are also nudges that connect to estimating...
Persistent link: https://www.econbiz.de/10012870202
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The Price of Warm Glow
Lilley, Andrew - 2013
predictions of the model we ran an experiment in which we varied within-subjects the costs and benefits of monetary and volunteer … the donor (impure warm-glow altruism). Consistent with the model's predictions, the experiment shows that priming pure … overall charitable donations. We discuss the implications of our experimental results for both theory and policy …
Persistent link: https://www.econbiz.de/10013080136
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Climate Amenities, Climate Change, and American Quality of Life
Albouy, David - 2014
We present a hedonic framework to estimate U.S. households' preferences over local climates, using detailed weather and 2000 Census data. We find that Americans favor an average daily temperature of 65 degrees Fahrenheit, will pay more on the margin to avoid excess heat than cold, and are not...
Persistent link: https://www.econbiz.de/10013064120