increases in risk taking. Where we can separately identify changes in risk-independent performance and risk taking, our … increases in risk taking. These effects are concentrated among those closest to the margin of elimination and among lower …

This paper studies how the risk of divorce affects the human capital decisions of a young couple. We consider a setting … where complete specialization (one of the spouses uses up all the education resources) is optimal with no divorce risk … symmetric allocation will become more attractive as the probability of divorce increases, if risk aversion is high and/or labor …

exogenous risk and delegation. That is, we show that only if exogenous risk is sufficiently large, the risk-neutral principal … may prefer to delegate authority over decisions to the risk-averse agent. Intuitively, for incentive reasons, the … principal may optimally want to allow the agent to reduce his risk exposure. Nevertheless, even endogenous risk may be higher …

in the type of degree studied can explain an additional 8.4% of the male-female pay gap. Risk-augmented earnings …

We analyze the role of risk-sharing institutions in transitions to modern economies. Transitions requires individual …-level risk-taking in pursuing productivity-enhancing activities including using and developing new knowledge. Individual …-level, idiosyncratic risk implies that distinct risk-sharing institutions - even those providing the same level of insurance - can lead to …

females 12 to 25 years of age in Madagascar, explicitly accounting for the endogeneities that arose from modeling these …

This paper measured the extent to which households in Madagascar adjust children's school attendance in order to cope … rigidities, explain the inability of households in Madagascar to keep their children in school during times of economic distress. …

We use a representative sample of informal entrepreneurs in Madagascar to add new evidence on the magnitude of the …