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This study investigates whether energy efficiency investments are driven by differences in personality traits among homeowners. Using data on nearly 3,000 households in Germany, we estimate that compared to the median level, homeowners in the lowest quartile of Openness to Experience have...
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realistic dispersion of income levels with modest barriers to technology adoption. Human capital and physical capital contribute … to income differences both directly (as usual), and indirectly by boosting resources devoted to technology adoption. The … model implies that most of income above subsistence is made possible by international diffusion of knowledge. …
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