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Gender differences in risk aversion and ambiguity aversion

Borghans, Lex; Golsteyn, Bart H. H.; Heckman, James J.; … - 2009

This paper demonstrates gender differences in risk aversion and ambiguity aversion. It also contributes to a growing … of cognition. Women are more risk averse than men. Over an initial range, women require no further compensation for the … as men. Psychological variables account for some of the interpersonal variation in risk aversion. They explain none of …

Persistent link: https://www.econbiz.de/10003870403

The identification & economic content of ordered choice models with stochastic thresholds

Heckman, James J.; Cunha, Flávio; Navarro, Salvador - 2007

This paper extends the widely used ordered choice model by introducing stochastic thresholds and interval-specific outcomes. The model can be interpreted as a general- ization of the GAFT (MPH) framework for discrete duration data that jointly models durations and outcomes associated with...

Persistent link: https://www.econbiz.de/10003869838

Instrumental variables in models with multiple outcomes : the general unordered case

Heckman, James J.; Urzua, Sergio; Vytlacil, Edward - 2008

This paper develops the method of local instrumental variables for models with multiple, unordered treatments when treatment choice is determined by a nonparametric version of the multinomial choice model. Responses to interventions are permitted to be heterogeneous in a general way and agents...

Persistent link: https://www.econbiz.de/10003870351

Identification of treatment effects using control functions in models with continuous, endogenous treatment and heterogeneous effects

Florensy, J. P.; Heckman, James J.; Meghirxand, C.; … - 2008

We use the control function approach to identify the average treatment effect and the effect of treatment on the treated in models with a continuous endogenous regressor whose impact is heterogeneous. We assume a stochastic polynomial restriction on the form of the heterogeneity but, unlike...

Persistent link: https://www.econbiz.de/10003870354

The economics & psychology of inequality and human development

Cunha, Flávio; Heckman, James J. - 2009

Recent research on the economics of human development deepens understanding of the origins of inequality and excellence. It draws on and contributes to personality psychology and the psychology of human development. Inequalities in family environments and investments in children are substantial....

Persistent link: https://www.econbiz.de/10003870405

The economics and psychology of inequality and human development

Cunha, Flávio; Heckman, James J. - 2009

Persistent link: https://www.econbiz.de/10003899878

Testing the correlated random coefficient model

Heckman, James J.; Schmierer, Daniel; Urzua, Sergio - 2009

The recent literature on instrumental variables (IV) features models in which agents sort into treatment status on the basis of gains from treatment as well as on baseline-pretreatment levels. Components of the gains known to the agents and acted on by them may not be known by the observing...

Persistent link: https://www.econbiz.de/10003899921

Understanding instrumental variables in models with essential heterogeneity

Heckman, James J.; Urzua, Sergio; Vytlacil, Edward - 2009

This paper examines the properties of instrumental variables (IV) applied to models with essential heterogeneity, that is, models where responses to interventions are heterogeneous and agents adopt treatments (participate in programs) with at least partial knowledge of their idiosyncratic...

Persistent link: https://www.econbiz.de/10003906850

Tests of hypotheses arising in the correlated random coefficient model

Heckman, James J.; Schmierer, Daniel - 2010

This paper examines the correlated random coefficient model. It extends the analysis of Swamy (1971, 1974), who pioneered the uncorrelated random coefficient model in economics. We develop the properties of the correlated random coefficient model and derive a new representation of the variance...

Persistent link: https://www.econbiz.de/10008821804