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Using self reported measures of life satisfaction and risk attitudes, we empirically test whether there is a … relationship between individuals inequality and risk aversion. The empirical analysis uses the German SOEP household panel for the … suggest that even though inequality and risk aversion are related, they are not the same thing. The paper shows that the …
Persistent link: https://www.econbiz.de/10013148355
For two different regulatory standards, we examine the optimal minimum wage in a competitive labour market when the government is uncertain about supply and demand. Solutions are related to underlying supply and demand conditions, and the extent of uncertainty and of rationing efficiency. We...
Persistent link: https://www.econbiz.de/10013009495
A longstanding challenge in evaluating the impact of uncertainty on investment is obtaining measures of managers' subjective uncertainty. We address this challenge by using a detailed new survey measure of subjective uncertainty collected by the U.S. Census Bureau for approximately 25,000...
Persistent link: https://www.econbiz.de/10014240723
national security as of March 2022. Fourth, firm-level risk perceptions skewed heavily to the downside in spring 2020 but …
Persistent link: https://www.econbiz.de/10013406440
take risk as measured by the general risk question. We demonstrate that this disposition, which we call risk conception, is … strongly associated with optimism, a stable facet of personality and that it predicts real-life risk taking. The general risk … question captures this disposition alongside pure risk preference. This enlightens why the general risk question is a better …
Persistent link: https://www.econbiz.de/10012915178
Depression affects the way that people process information and make decisions, including those involving risk and … uncertainty. Our objective is to analyze the way that depressive episodes shape risk preferences and risk-taking behaviors. We are … the first to address this issue using large-scale, representative panel data that include both behavioral and stated risk …
Persistent link: https://www.econbiz.de/10012870197
We investigate risk aversion as a driver of labour market discrimination against homosexual men. We show that more … hiring discrimination by more risk-averse employers is consistent with taste-based and statistical discrimination. To test … heterosexual or homosexual job candidate. In addition, participants are surveyed on their risk aversion and other characteristics …
Persistent link: https://www.econbiz.de/10013011165
More often than not production processes are the joint endeavor of people having different abilities and productivities. Such production processes and the associated surplus production are often not fully transparent in the sense that the relative contributions of involved agents are blurred;...
Persistent link: https://www.econbiz.de/10013139946
Tournament incentives prevail in labor markets. Yet, the number of tournament winners is often unclear to competitors. While it is hard to measure how this uncertainty affects work performance and willingness to compete in the field, it can be studied in a controlled lab experiment. We present a...
Persistent link: https://www.econbiz.de/10012868836
households reduce their financial risk exposure when confronted with background risk. Our novel modelling approach – termed a … risk, and is unique in recovering for, any given risky asset class, the shares that are reallocated to a safer asset … category. Background risk exerts a significant impact on household portfolios, resulting in a 'flight from risk', away from …
Persistent link: https://www.econbiz.de/10012977335