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An Economic Analysis of Exclusion Restrictions for Instrumental Variable Estimation
Berg, Gerard J. van den - Institute for the Study of Labor (IZA) - 2007
Instrumental variable estimation requires untestable exclusion restrictions. With policy effects on individual outcomes, there is typically a time interval between the moment the agent realizes that he may be exposed to the policy and the actual exposure or the announcement of the actual...
Persistent link: https://www.econbiz.de/10005763520
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Cognitive Dissonance, Pessimism, and Behavioral Spillover Effects
Dickinson, David L.; Oxoby, Robert J. - Institute for the Study of Labor (IZA) - 2007
This paper reports results from a unique two-stage experiment designed to examine the spillover effects of optimism and … pessimism. In stage 1, we induce optimism or pessimism onto subjects by randomly assigning a high or low piece rate for …
Persistent link: https://www.econbiz.de/10005822246
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Groupthink: Collective Delusions in Organizations and Markets
Benabou, Roland - Institute for the Study of Labor (IZA) - 2013
This paper investigates collective denial and willful blindness in groups, organizations and markets. Agents with anticipatory preferences, linked through an interaction structure, choose how to interpret and recall public signals about future prospects. Wishful thinking (denial of bad news) is...
Persistent link: https://www.econbiz.de/10010704406
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Groupthink: Collective delusions in organizations and markets
Bénabou, Roland - 2013
This paper investigates collective denial and willful blindness in groups, organizations and markets. Agents with anticipatory preferences, linked through an interaction structure, choose how to interpret and recall public signals about future prospects. Wishful thinking (denial of bad news) is...
Persistent link: https://www.econbiz.de/10010293122
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On the Psychology of the Relation between Optimism and Risk Taking
Dohmen, Thomas; Quercia, Simone; Willrodt, Jana - 2022
In this paper, we provide an explanation for why risk taking is related to optimism. Using a laboratory experiment, we … show that the degree of optimism predicts whether people tend to focus on the positive or negative outcomes of risky … behavior. This suggests that dispositional optimism may affect risk taking mainly by shifting attention to specific outcomes …
Persistent link: https://www.econbiz.de/10014296507
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Willingness to Take Risk: The Role of Risk Conception and Optimism
Dohmen, Thomas; Quercia, Simone; Willrodt, Jana - 2018
strongly associated with optimism, a stable facet of personality and that it predicts real-life risk taking. The general risk … why risk taking is related to optimism. …
Persistent link: https://www.econbiz.de/10011931607
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Reputation vs Selection Effects in Markets With Informational Asymmetries
Alysandratos, Theodore; Georganas, Sotiris; Sutter, Matthias - 2022
In markets with asymmetric information between sellers and buyers, feedback mechanisms are important to increase market efficiency and reduce the informational disadvantage of buyers. Feedback mechanisms might work because of self-selection of more trustworthy sellers into markets with such...
Persistent link: https://www.econbiz.de/10013470446
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Internationalisation of Education and Returns in the Labour Market
Poot, Jacques; Roskruge, Matthew - Institute for the Study of Labor (IZA) - 2013
The education services provided in any given country increasingly contribute to human capital that is employed in another country. On the one hand, graduates may seek to obtain the highest return to the knowledge they gained in their home country by working abroad. On the other hand, some...
Persistent link: https://www.econbiz.de/10010764605
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Internationalisation of Education and Returns in the Labour Market
Poot, Jacques; Roskruge, Matthew - 2013
The education services provided in any given country increasingly contribute to human capital that is employed in another country. On the one hand, graduates may seek to obtain the highest return to the knowledge they gained in their home country by working abroad. On the other hand, some...
Persistent link: https://www.econbiz.de/10010329032
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Occupation Growth, Skill Prices, and Wage Inequality
Böhm, Michael Johannes; von Gaudecker, Hans-Martin; … - 2019
This paper studies the relationship between changes in occupational employment, occupational wages, and rising overall wage inequality. Using long-running administrative panel data with detailed occupation codes, we first document that in all occupations, entrants and leavers earn lower wages...
Persistent link: https://www.econbiz.de/10012141283