The combination of credit constraints and indivisible consumption goods may induce some risk-averse individuals to gamble to have a chance of crossing a purchasing threshold. One implication of this is that income effects for individuals who choose to gamble are likely to be larger than for the...

In this paper we propose a method to estimate externality effects in cash transfer programmes, even in cases when the benefit is not randomly assigned. Externality is assessed through the decomposition of the average treatment effect on the treated (ATT) into participation (direct) effect and...

This paper investigates the impact of the pilot phase of Paraguay's conditional cash transfer programme, Tekoporã, on the demand for healthcare and education, and how much of this impact was due to the cash transfers and/or due to changes in behaviour/preferences, possibly as an effect of...

While aggregate house price indices display time persistence, less is known about micro persistence. This article proposes that absence of micro persistence implies that an excessively high or low sell price in one transaction is not repeated in the next transaction. We exploit a unique...

This paper analyzes the labor market for collegiate football players and argues that professional football teams have discriminating preferences when making their hiring decisions. An empirical analysis of panel data of 32 NFL teams in recent seasons is carried out to test the effects of such...

We analyze gender differences in risk-taking in high-pressure situations. Using novel data from professional athletes (NBA and WNBA), we find that male teams increase their risktaking towards the end of matches when a successful risky strategy could secure winning the match. Female teams, in...

This paper investigates why all-inclusive travel packages are offered at some hotels but not at others. By using the theory of transaction cost, it is argued that all-inclusive contracts mitigate a hold-up problem and that the severity of this problem varies with regards to the hotel's distance...

This study investigates whether net inbound migration and per capita income growth of a municipality is affected when a local sports team enters or exits the premium national leagues in ice hockey or soccer in Sweden. Local governments frequently support a local professional team through direct...

This article investigates the relationship between income inequality and firms' locations and product choices. Using detailed information on income at a regionally disaggregated level and individual data on Austrian restaurants, we demonstrate that firm conduct crucially depends on the...

We use data from top-level soccer to examine determinants of individual misbehaviour in team contests. Our estimates indicate a significant positive and non-linear relationship between a player's age and (relative) ability on the one hand and the tendency to misbehave on the other. These...