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The link between happiness and overall inequality is best studied using an index that incorporates different aspects of inequality, and is measured consistently in different countries. One such index is the degree to which happiness itself varies among individuals. Its correlation with both...
Persistent link: https://www.econbiz.de/10013000535
We propose a technique for assessing robustness of behavioral measures and treatment effects to experimenter demand effects. The premise is that by deliberately inducing demand in a structured way we can measure its influence and construct plausible bounds on demand-free behavior. We provide...
Persistent link: https://www.econbiz.de/10012954926
the absence of empirical research to discipline thinking. To make progress, I urge measurement and analysis of the …
Persistent link: https://www.econbiz.de/10012955948
aggregation strategies and actual prices paid by consumers. We demonstrate that our methodology improves inflation measurement …
Persistent link: https://www.econbiz.de/10013039762
Individuals face significant late-in-life risks, prominently including the need for long-term care (LTC). Yet, they hold little long-term care insurance (LTCI). In this paper we use a structural model and a purpose-designed dataset to understand the determinants of insurance demand. We...
Persistent link: https://www.econbiz.de/10012981615
We document a strong and robust positive relationship between real rates and the contemporaneous valuation of volatile stocks, which we contend measures the economy's risk appetite. Our novel proxy for risk appetite explains 41% of the variation in the one-year real rate since 1970, while the...
Persistent link: https://www.econbiz.de/10012920896
Market power arises in the case where a seller is aware that raising output will depress price. In the profit-maximizing equilibrium with market power, price exceeds marginal cost. The Lerner index---the ratio of price less marginal cost to the price---is a widely accepted measure of market...
Persistent link: https://www.econbiz.de/10012908152
the household budget constraint. In this paper we use transaction-level retail investment data to assess the measurement …
Persistent link: https://www.econbiz.de/10012910647
A pervasive concern with the use of self-reported health and disability measures in behavioral models is that they are biased and endogenous. A commonly suggested explanation is that survey respondents exaggerate the severity of health problems and incidence of disabilities in order to...
Persistent link: https://www.econbiz.de/10013218308
regulatory purposes. Despite its conceptual simplicity, its measurement is a very challenging statistical problem and none of the …
Persistent link: https://www.econbiz.de/10013218406