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Compensating wage differentials for schooling risk in Denmark

Diaz-Serrano, Luis; Hartog, Joop; Skyt Nielsen, Helena - 2003

Danish population to calculate different measures of earnings risk by education. Our long panel data set also allows us to … decompose shocks in earnings in a permanent and a transitory component. We test the role of the risks associated to both … components in wage compensation. We also experiment with new measures of earnings risk based on transitory intertemporal …

Persistent link: https://www.econbiz.de/10010261656

It's the opportunity cost, stupid!: How self-employment responds to financial incentives of return, risk and skew

Berkhout, Peter; Hartog, Joop; van Praag, Mirjam - 2011

There is no robust empirical support for the effect of financial incentives on the decision to work in self-employment rather than as a wage earner. In the literature, this is seen as a puzzle. We offer a focus on the opportunity cost, i.e. the wages given up as an employee. Information on...

Persistent link: https://www.econbiz.de/10010282326

If you are so smart, why aren't you an entrepreneur? Returns to cognitive and social ability ; entrepreneurs versus employees

Hartog, Joop; van Praag, C. Mirjam; van der Sluis, Justin - 2008

questions: (1) To what extent does a composite measure of ability affect an entrepreneur's earnings relative to employees? (2 …) Do different cognitive abilities (e.g. math ability, language ability) and social ability affect earnings of … entrepreneurs and employees differently?, and (3) Does the balance in these measured ability levels affect an individual's earnings …

Persistent link: https://www.econbiz.de/10010277011

Earnings Risk and Demand for Higher Education: A Cross-Section Test for Spain

Hartog, Joop; Serrano, Luis Diaz - 2002

We develop a simple human capital model for optimum schooling length when earnings are stochastic, and highlight the … pivotal role of risk attitudes and the schooling gradient of earnings risk. We use Spanish data to document the gradient and … to estimate individual response to earnings risk in deciding on attending university education, by measuring risk as the …

Persistent link: https://www.econbiz.de/10010262327

Do Wages Really Compensate for Risk Aversion and Skewness Affection?

Hartog, Joop; Vijverberg, Wim P. M. - 2002

finds supportive evidence: wages rise with occupational earnings variance and decrease with skewness. In order to identify …

Persistent link: https://www.econbiz.de/10010262821

Happiness and the persistence of income shocks

Bayer, Christian; Juessen, Falko - 2012

We reassess the empirical effect of income and employment on self-reported well-being. Our analysis makes use of a novel two-step estimation procedure that allows applying instrumental variable regressions with ordinal observable data. As suggested by the theory of incomplete markets, we...

Persistent link: https://www.econbiz.de/10010283993