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Crosetto, Paolo; Filippin, Antonio - Institute for the Study of Labor (IZA) - 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/10010773918

Risk Attitudes and Well-Being in Latin America

Cardenas, Juan Camilo; Carpenter, Jeffrey P. - Institute for the Study of Labor (IZA) - 2010

A common premise in both the theoretical and policy literatures on development is that people remain poor because they are too impatient to save and too risk averse to take the sort of chances needed to accumulate wealth. The empirical literature, however, suggests that this assumption is far...

Persistent link: https://www.econbiz.de/10008683657

Experts in Experiments: How Selection Matters for Estimated Distributions of Risk Preferences

von Gaudecker, Hans-Martin; van Soest, Arthur; … - Institute for the Study of Labor (IZA) - 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/10008868136

Compensating Differentials in Experimental Labor Markets

Carpenter, Jeffrey P.; Matthews, Peter Hans; Robbett, Andrea - Institute for the Study of Labor (IZA) - 2015

The theory of compensating differentials has proven difficult to test with observational data: the consequences of selection, unobserved firm and worker characteristics, and the broader macroeconomic environment complicate most analyses. Instead, we construct experimental, real-effort labor...

Persistent link: https://www.econbiz.de/10011163479

Cognitive Skills Explain Economic Preferences, Strategic Behavior, and Job Attachment

Burks, Stephen V.; Carpenter, Jeffrey P.; Goette, Lorenz; … - Institute for the Study of Labor (IZA) - 2008

Economic analysis has said little about how an individual’s cognitive skills (CS's) are related to the individual’s preferences in different choice domains, such as risk-taking or saving, and how preferences in different domains are related to each other. Using a sample of 1,000 trainee...

Persistent link: https://www.econbiz.de/10005761801

Affect as a source of motivation in the workplace: a new model of labor supply, and new field evidence on income targeting and the goal gradient

Götte, Lorenz; Huffman, David - 2005

In this chapter we propose a new, dual-process model of labor supply, which incorporates both cognitive and affective aspects of decision-making. Consistent with evidence from neuroscience, the worker may experience conflicting cognitive and affective motivations during the workday. In...

Persistent link: https://www.econbiz.de/10010267632

Affect as a Source of Motivation in the Workplace: A New Model of Labor Supply, and New Field Evidence on Income Targeting and the Goal Gradient

Goette, Lorenz; Huffman, David - Institute for the Study of Labor (IZA) - 2005

Persistent link: https://www.econbiz.de/10005763926

The Origins and Extent of Entrepreneurial Action-Orientedness: An Experimental Study

Barirani, Ahmad; Sloof, Randolph; van Praag, Mirjam C. - 2017

We test the hypothesis, based on popular and theoretical perspectives, that entrepreneurs are more action-oriented than … experiment among 100s of entrepreneurs, managers and employees. Our experimental results show that entrepreneurs are indeed more … curiosity. Our empirical test results show that (i) entrepreneurs score indeed higher, on average, than managers and employees …

Persistent link: https://www.econbiz.de/10011653226

Labour Income Uncertainty, Risk Aversion and Home Ownership

Diaz-Serrano, Luis - 2004

In this paper we investigate the effect of labour income uncertainty on the probability of home ownership in Germany and Spain. This study is motivated by two facts. Firstly, theoretical models provide ambiguous results in this issue. Secondly, there is limited previous empirical evidence and...

Persistent link: https://www.econbiz.de/10010261778

On the Negative Relationship between Labor Income Uncertainty and Homeownership : Risk Aversion vs. Credit Constraints

Diaz-Serrano, Luis - 2004

Barriers to homeownership have traditionally been an important research and policy issue. In particular, the role of income volatility and credit constraints have been one of the main focuses in this concern. In this paper we test for the first time whether the underlying nature behind the...

Persistent link: https://www.econbiz.de/10010261962