We examine several measures of uncertainty to make five points. First, equity market traders and executives at nonfinancial firms have shared similar assessments about one-year-ahead uncertainty since the pandemic struck. Both the one-year VIX and our survey-based measure of firm-level...

How do private consumers adapt to changes to energy prices, in particular do they invest in energy-saving measures? We study this question in the context of the rapid rise in energy prices caused by the Russian invasion of Ukraine in February 2022 and the demand for energy efficiency in the UK...

In course of the current energy crisis, the consequences of increasing gas prices are heavily discussed. To date, however, there is no evidence of the impact of gas prices on the labor market. Using administrative employment data from 2012 2020, we find for manufacturing establishments a gas...

This paper demonstrates gender differences in risk aversion and ambiguity aversion. It also contributes to a growing literature relating economic preference parameters to psychological measures by asking whether variations in preference parameters among persons, and in particular across genders,...

We conduct a randomized field experiment to investigate the benefits of an intensive chess training program undertaken by primary school students in a developing country context. We examine the effects on academic outcomes, and a number of non-cognitive outcomes: risk preferences, patience,...

A growing body of evidence suggests that people exhibit large biases when processing information about themselves, but less is known about the underlying inference process. This paper studies belief updating patterns regarding academic ability in a large sample of students transitioning from...

People differ in their willingness to take risks. Recent work found that revealed preference tasks (e.g., laboratory lotteries)—a dominant class of measures—are outperformed by survey-based stated preferences, which are more stable and predict real-world risk taking across different domains....

We investigate whether excessively optimistic beliefs may play a role in the persistent demand for doctoral and post-doctoral training in science. We elicit the beliefs and career preferences of doctoral students through a novel survey and randomize the provision of structured information on the...

Many countries conduct national standardized assessments of educational performance, the results of which may be published at the school level or at a higher level of aggregation. Publication at the school level potentially improves student achievements by holding schools accountable, whereas...

Economists model self-control problems through time-inconsistent preferences. Empirical tests of these preferences largely rely on experimental elicitation methods using monetary rewards, with several recent studies failing to find present bias for money. In this paper, we compare estimates of...