We examine a Japanese Panel Survey in order to check whether self-reported risk aversion varies over time. In most panels, risk attitude variables are collected only once (found in only one survey wave), and it is assumed that self-reported risk aversion reflects the individual's time-invariant...

We investigate people's dierent conceptions of the economic term consump- tion when comparing with others. An Internet-based hypothetical discrete choice experiment was conducted with Japanese participants. As in other relative income comparison studies, we found that own consumption and own...

This paper investigates a new way to estimate the gender wage gap with the introduction of individual risk attitudes using representative Korean data. We es- timate the wage gap with correction for the selection bias, which latter results in the overestimation of this wage gap. Female workers...

Individual risk attitudes are frequently used to predict decisions regarding education. However, using risk attitudes as a control variable for education decisions has been criticized because of potential issues related to reverse causality. Causality between risk aversion and education is...

This paper studies the effects of risk attitudes on effort exerted under different monitoring schemes. Our design employs a theoretical model that relaxes the assumption that agents are risk neutral and investigates changes in the effort and quality of work as monitoring varies. The predictions...

This paper analyzes banks’ communication policies in crisis times and the role of imperfect information in enhancing banks' financial distress. If banks differ in their exposure to dubious assets, fragile banks may claim to be sound only in order to manipulate investors' expectations. Then...