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Discounting Financial Literacy : Time Preferences and Participation in Financial Education Programs

Meier, Stephan; Sprenger, Charles - Forschungsinstitut zur Zukunft der Arbeit <Bonn> - 2008

Many policy makers and economists argue that financial literacy is key to financial well-being. But why do many individuals remain financially illiterate despite the apparent importance of being financially informed? This paper presents results of a field study linking individual decisions to...

Persistent link: https://www.econbiz.de/10005859644

Behavioral Foundations of Microcredit:Experimental and Survey Evidence from Rural India

Bauer, Michal; Chytilová, Julie; Morduch, Jonathan - Institut zur Zukunft der Arbeit <Bonn> - 2010

Microcredit is an innovative financial tool designed to reduce poverty and fix credit marketimperfections. We use experimental measures of time discounting and risk aversion forvillagers in south India to highlight behavioral features of microcredit. Conditional onborrowing from any source,...

Persistent link: https://www.econbiz.de/10009360593

An Experimental Investigation ofAge Discrimination in the English Labor Market

Riach, Peter A.; Rich, Judith - Forschungsinstitut zur Zukunft der Arbeit <Bonn> - 2007

Carefully-matched pairs of written job applications were made to test for age discrimination inhiring. A twenty-one year-old and a thirty-nine year-old woman applied for jobs where a newgraduate was sought; men aged twenty-seven and forty-seven, inquired about employmentas waiters; women aged...

Persistent link: https://www.econbiz.de/10005861868

Individual-Level Loss Aversion in Riskless andRisky Choices

Gächter, Simon; Johnson, Eric J.; Herrmann, Andreas - Forschungsinstitut zur Zukunft der Arbeit <Bonn> - 2007

Loss aversion can occur in riskless and risky choices. Yet, there is no evidence whetherpeople who are loss averse in riskless choices are also loss averse in risky choices. Wemeasure individual-level loss aversion in riskless choices in an endowment effect experimentby eliciting both WTA and...

Persistent link: https://www.econbiz.de/10005862335

Gift Exchange within a Firm:Evidence from a Field Experiment

Bellemare, Charles; Shearer, Bruce - Forschungsinstitut zur Zukunft der Arbeit <Bonn> - 2007

We present results from a field experiment testing the gift-exchange hypothesis inside a treeplantingfirm paying its workforce incentive contracts. Firm managers told a crew of treeplanters they would receive a pay raise for one day as a result of a surplus not attributable topast planting...

Persistent link: https://www.econbiz.de/10005863220

Cooperation, Competition, and Risk Attitudes:An Intergenerational Field and Laboratory Experiment

Charness, Gary; Villeval, Marie-Claire - Forschungsinstitut zur Zukunft der Arbeit <Bonn> - 2007

The population of most developed societies is graying. As life expectancy increases and thelarge baby-boom generation approaches retirement age, this has critical consequences formaintaining a high standard of living and the sustainability of pension systems. In the light ofthese labor-force...

Persistent link: https://www.econbiz.de/10005863328

Social Preferences? Google Answers!

Regner, Tobias - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2009

We analyse pricing, e¤ort and tipping decisions in the online service GoogleAnswers. While users set a price for the answer to their question ex ante, theycan additionally give a tip to the researcher ex post.In line with the related experimental literature we nd evidence that tippingis...

Persistent link: https://www.econbiz.de/10005866396

Uncertainty effect revisited using physical lottery format

Rydval, Ondřej; Ortmann, Andreas; Prokosheva, Sasha; … - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2009

We replicate three pricing tasks of Gneezy, List and Wu (2006) for which they document the so called uncertainty effect, namely that people value a binary lottery over non-monetary outcomes less than other people value the lottery’s worse outcome. Unlike the authors who implement a verbal...

Persistent link: https://www.econbiz.de/10005866429

The Interaction between Financial Incentives and Task-specific Cognitive Capital: More Evidence in Support of Camerer and Hogarth (1999)

Rydval, Ondřej - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2007

their interaction, matter for performance. In particular, the effect of task-specific cognitive capital on performance is … stronger under performance-based financial incentives as compared to flatrate incentives. The interaction effect arises because … performance-based financial incentives lead to better performance only for individuals with more task-specific cognitive capital …

Persistent link: https://www.econbiz.de/10005866583

Valuing A Risky Prospect Less Than Its Worst Outcome: Uncertainty Effect or Task Ambiguity?

Ortmann, Andreas; Prokosheva, Alexandra; Rydval, Ondřej; … - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2007

Gneezy, List and Wu [Q. J. Econ. 121 (2006) 1283-1309] document that lotteries are often valued less than the lotteries’ worst outcomes. We show how to undo this result.

Persistent link: https://www.econbiz.de/10005866586