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exit employment - is still important among a subset of couples, but that the overall value of marriage as a risk …-sharing arrangement has diminished because of the greater positive co-movement of employment within couples. While positive assortative …
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When valuing risky prospects, people tend to overweight small probabilities and to underweight large probabilities. Nonlinear probability weighting has proven to be a robust empirical phenomenon and has been integrated in decision models, such as cumulative prospect theory. Based on a laboratory...
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