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A key open question for theories of reference-dependent preferences is what determines the reference point. One candidate is expectations: what people expect could affect how they feel about what actually occurs. In a real-effort experiment, we manipulate the rational expectations of subjects...
Persistent link: https://www.econbiz.de/10012765260
We report on a laboratory experiment testing for the presence of loss aversion, as separate from risk aversion …, utilizing an asset integration protocol designed to ensure that a loss of cash provided by the experimenter is viewed as a real … loss by experimental participants. Our experimental design augments the Holt-Laury risk preference elicitation methodology …
Persistent link: https://www.econbiz.de/10012870215
We report the results of a laboratory experiment testing for the existence of loss aversion in a standard risk aversion … incentivized risk preference elicitation task. We find loss aversion, distinct from risk aversion, has a significant effect on …
Persistent link: https://www.econbiz.de/10013050634
Loss aversion can occur in riskless and risky choices. Yet, there is no evidence whether people who are loss averse in … riskless choices are also loss averse in risky choices. We measure individual-level loss aversion in riskless choices in an … manufacturer). All subjects also participate in a simple lottery choice task which arguably measures loss aversion in risky choices …
Persistent link: https://www.econbiz.de/10013316870
Many observers have noticed the importance of anger in contemporary politics, particularly with reference to populism. This article addresses the question under which conditions people become angry about a specific aspect of their lives: their personal financial situation. Specifically, it asks...
Persistent link: https://www.econbiz.de/10012870139
Using data on the US and EU top R&D spenders from 2004 until 2012, this paper investigates the sources of the US/EU productivity gap. We find robust evidence that US firms have a higher capacity to translate R&D into productivity gains (especially in the high-tech industries), and this...
Persistent link: https://www.econbiz.de/10012990873
We document that fluctuations in part-time employment play a major role in movements in hours per worker, especially during cyclical swings in the labor market. Building on this result, we propose a novel representation of the intensive margin based on a stock-flow framework. The evolution of...
Persistent link: https://www.econbiz.de/10012995588
We estimate calories available to workers' households in the USA, Belgium, Britain, France and Germany in 1890/1. We … estimate that households in the USA, on average, had about five hundred daily calories per equivalent adult more than their … French and German counterparts, with Belgian and British workers closer to the USA levels. We ask if that energy bonus gave …
Persistent link: https://www.econbiz.de/10012946589
We use time-diary data from the 2003 and 2004 American Time Use Surveys and the 2000 United Kingdom Time Use Study to estimate the effect of family structure on the time mothers and fathers spend on primary and passive child care and on market work, using a system of correlated Tobit equations...
Persistent link: https://www.econbiz.de/10012779029
We show how intergenerational mobility has evolved over time in Sweden and the United States since 1985, focusing on prime-age labor incomes of both men and women. Income persistence involving women (daughters and/or mothers) has risen substantially over recent decades in both Sweden and the US,...
Persistent link: https://www.econbiz.de/10014344618