different growth trajectories if they differently motivate risk-taking. Historically, risk sharing institutions were selected …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 …

different growth trajectories if they differently motivate risk-taking. Historically, risk sharing institutions were selected …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 …

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 survey the literature on the Risk Augmented Mincer equation that seeks to estimate the compensation for uncertainty …

uninsurable labor income risk, and economic growth in a small open overlapping-generations economy with heterogeneous agents. It … impact of higher inequality on the aggregate human capital stock, and thus, on growth may be positive. This result rests on …

productivity growth, i.e. bad times, "increase the political support for more labor market rigidity only where labor appropriates …