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Reference points and effort provision
Abeler, Johannes; Falk, Armin; Götte, Lorenz; Huffman, … - 2009
A key open question for theories of reference-dependent preferences is what determines the reference point. One candidate is expectations: what people expect could affect how they feel about what actually occurs. In a real-effort experiment, we manipulate the rational expectations of subjects...
Persistent link: https://www.econbiz.de/10010269296
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Experts in experiments: How selection matters for estimated distributions of risk preferences
von Gaudecker, Hans-Martin; van Soest, Arthur; … - 2011
An ever increasing number of experiments attempts to elicit risk preferences of a population of interest with the aim of calibrating parameters used in economic models. We are concerned with two types of selection effects, which may affect the external validity of standard experiments: Sampling...
Persistent link: https://www.econbiz.de/10010278586
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The "bomb" risk elicitation task
Crosetto, Paolo; Filippin, Antonio - 2012
This paper presents the Bomb Risk Elicitation Task (BRET), an intuitive procedure aimed at measuring risk attitudes. Subjects decide how many boxes to collect out of 100, one of which containing a bomb. Earnings increase linearly with the number of boxes accumulated but are zero if the bomb is...
Persistent link: https://www.econbiz.de/10010287720
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Risk, Uncertainty and Entrepreneurship: Evidence from a Lab-in-the-Field Experiment
Koudstaal, Martin; Sloof, Randolph; Praag, Mirjam C. van - Institute for the Study of Labor (IZA) - 2014
Theory predicts that entrepreneurs have distinct attitudes towards risk and uncertainty, but empirical evidence is … mixed. To better understand the unique behavioral characteristics of entrepreneurs and the causes of these mixed results, we … perform a large 'lab-in-the-field' experiment comparing entrepreneurs to managers – a suitable comparison group – and …
Persistent link: https://www.econbiz.de/10010959844
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Risk, Uncertainty and Entrepreneurship: Evidence from a Lab-in-the-Field Experiment
Koudstaal, Martin; Sloof, Randolph; van Praag, Mirjam C. - 2014
Theory predicts that entrepreneurs have distinct attitudes towards risk and uncertainty, but empirical evidence is … mixed. To better understand the unique behavioral characteristics of entrepreneurs and the causes of these mixed results, we … perform a large 'lab-in-the-field' experiment comparing entrepreneurs to managers - a suitable comparison group - and …
Persistent link: https://www.econbiz.de/10010435236
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Efficient probit estimation with partially missing covariates
Conniffe, Denis; O'Neill, Donal - 2009
A common approach to dealing with missing data is to estimate the model on the common subset of data, by necessity throwing away potentially useful data. We derive a new probit type estimator for models with missing covariate data where the dependent variable is binary. For the benchmark case of...
Persistent link: https://www.econbiz.de/10010269313
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The Impact of Risk Aversion, Role Models, and the Regional Milieu on the Transition from Unemployment to Self-Employment: Empirical Evidence for Germany
Wagner, Joachim - 2002
The focus of this paper is on the choice of the unemployed between becoming an entrepreneur or not. It contributes to the literature by empirically investigating two hitherto neglected issues: What is the impact of risk aversion and personal contact with a role model in shaping the decision to...
Persistent link: https://www.econbiz.de/10010262783
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Risk, balanced skills and entrepreneurship
Hsieh, Chihmao; Parker, Simon C.; van Praag, Mirjam - 2011
likely to become entrepreneurs. By not having taken this possible linkage into account, previous research has underestimated … the impacts both of risk aversion and balanced skills on the likelihood individuals choose entrepreneurship. Data on Dutch …-averse people might be suited to entrepreneurship; and it may also help explain why prior research has generated mixed evidence …
Persistent link: https://www.econbiz.de/10010282614
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Personality characteristics and the decision to become and stay self-employed
Caliendo, Marco; Fossen, Frank M.; Kritikos, Alexander S. - 2011
one of the most prominent determinants of entrepreneurship - education - and approximately three times larger than …
Persistent link: https://www.econbiz.de/10010278676
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Taking a Second Chance: Entrepreneurial Restarters in Germany
Wagner, Joachim - 2002
personal contacts with a young entrepreneur and the regional share of nascent entrepreneurs. …
Persistent link: https://www.econbiz.de/10010261524