model incorporating England's and China's distinct pre-modern risk-sharing institutions. The model predicts a transition in … England and not China even with equal levels of risk sharing. Under the clan-based Chinese institution, the relatively risk …We analyze the role of risk-sharing institutions in transitions to modern economies. Transitions requires individual …

Using a country-industry panel dataset (EUKLEMS) we uncover a robust empirical regularity, namely that high-risk …

payoffs on cooperation, focusing on one-shot PD games where efficiency requires mutual cooperation. We report results from …

payoffs on cooperation, focussing on one-shot PD games where efficiency requires mutual cooperation. Following Mengel (2018 …) we vary three payoff indices. Indices of risk and temptation capture the unilateral incentives to defect against … defectors and co-operators respectively, while an index of efficiency captures the gains from cooperation. We conduct two …

activities within the household. However, this prediction may not hold in the presence of risk. Using data on farm plots and non …-farm enterprises in Malawi, we examine the impact of risk on the allocation decisions of agricultural households as they allocate 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 …