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This paper synthesizes recent research in economics and psychology on the measurement and empirical importance of personality skills and preferences. They predict and cause important life outcomes such as wages, health, and longevity. Skills develop over the life cycle and can be enhanced by...
Persistent link: https://www.econbiz.de/10012179946
The public finance literature demonstrates the equivalence between consumption and laborincome (wage) taxes. We introduce an experimental paradigm in which individuals make real labor-leisure choices and spend their earned income on real goods. We use this paradigm to test whether a labor-income...
Persistent link: https://www.econbiz.de/10010274549
as the main cause and design a parsimonious experiment with exogenous prices that allows classifying experts as either …
Persistent link: https://www.econbiz.de/10010269558
inefficiencies, such as under- and overtreatment or market break-down. We study in a large experiment with 936 participants the …
Persistent link: https://www.econbiz.de/10010271236
Beliefs are a central determinant of behavior. Recent models assume that beliefs about or the anticipation of future consumption have direct utility-consequences. This gives rise to informational preferences, i.e., preferences over the timing and structure of information. Using a novel and...
Persistent link: https://www.econbiz.de/10011559600
Using a unique field experiment from Canada, we estimate individual preference over risk and time and show considerable …
Persistent link: https://www.econbiz.de/10011584663
We present an experiment to investigate the source of disappointment aversion in a sequential real-effort competition … Prowse experiment, where the latter treatment removes the scope for social comparisons. If disappointment aversion simply …
Persistent link: https://www.econbiz.de/10011653482
foods. In a within-subjects longitudinal experiment with 697 low-income Chinese high school students we find strong present …
Persistent link: https://www.econbiz.de/10012270084
distribution using a highly incentivized field experiment in which the same set of individuals participated. In the experimental … weight to a specific set of determinants in the experiment and in the survey and that the valuations of financial aid are … rank incoherent. About 66% of Biased Incoherency (defined as the tendency to have a higher valuation rank in the experiment …
Persistent link: https://www.econbiz.de/10012658173
Quasi-hyperbolic discounting is one of the most well-known and widely-used models to capture self-control problems in the economics literature. The underlying assumption of this model is that agents have a "present bias" toward current consumption such that all future rewards are downweighed...
Persistent link: https://www.econbiz.de/10012658204