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Migration experience, aspirations and the brain drain theory and empirical evidence
Böhme, Marcus H.; Glaser, Toni - 2014
in a migration experience, which increases the migrant's aspirations. This will induce her to invest more in the … given migration rate. We show that the optimal migration rate that maximizes the post-migration skill-rate of the population … is higher if we allow for the aspirations effect of migration. We use panel data from Indonesia to demonstrate that a …
Persistent link: https://www.econbiz.de/10010402250
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On the economics of others
Stark, Oded - 2013
We relate to others in two important ways: we care about others, and we care about how we fare in comparison to others. In some contexts, these two forms of relatedness interact. Caring about others can conveniently be labeled altruism. Caring about how we fare in comparison with others who fare...
Persistent link: https://www.econbiz.de/10010197411
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Commitment contracts
Bryan, Gharad; Karlan, Dean; Nelson, Scott - 2009
We review the theoretical and empirical literature on commitment devices. A commitment device is any arrangement, entered into by an individual, with the aim of making it easier to fulfill his or her own future plans. We argue that there is growing empirical evidence supporting the proposition...
Persistent link: https://www.econbiz.de/10003892601
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Beyond information : disclosure, distracted attention, and investor behavior
Hillenbrand, Adrian; Schmelzer, André - 2015 - Working paper version: December 2015
Financial disclosure documents provide investors with product details to facilitate informed investment decisions. We investigate whether the appearance - the visual frame - of disclosure documents impacts risk and return expectations and investment behavior. In our experiment, subjects decide...
Persistent link: https://www.econbiz.de/10011416914
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Be patient when measuring Hyperbolic Discounting : stationarity, time consistency and time invariance in a field experiment
Janssens, Wendy; Kramer, Berber; Swart, Lisette - 2015
Most evidence of hyperbolic discounting is based on violations of either stationarity or time consistency as observed in choice experiments. These choice reversals may however also result from time-varying discount rates. Hyperbolic discounting is a plausible explanation for choice reversals...
Persistent link: https://www.econbiz.de/10011307819
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Individual wealth accumulation : why does dining together as a family matter?
Chatterjee, Swarn; Palmer, Lance; Goetz, Joseph - 2012
This study uses data from the Panel Study of Income Dynamics to examine whether self-regulation, proxied by regularly dining together with family, is associated with better financial preparedness and greater wealth accumulation across time among households. Findings reveal that individuals who...
Persistent link: https://www.econbiz.de/10011451755
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Do Risk Disclosures Affect Investment Choice?
Hung, Angela - 2010
The aim of this study was to understand the potential effects of different information disclosures regarding risk on retirement investing behavior. The authors developed and tested two modifications to the section on investment performance on the prototype DOL Model Comparative Chart, providing...
Persistent link: https://www.econbiz.de/10013137407
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Annuity Puzzles
Benartzi, Shlomo - 2011
We analyze the long-standing “annuity puzzle” through the lens of behavioral economics. We provide novel evidence that lessens the extent of the puzzle and shed some additional light on the real drivers of the decision to annuitize. Last, we discuss the policy implications of our findings
Persistent link: https://www.econbiz.de/10013119620
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Household Optimism and Borrowing
Hyytinen, Ari - 2012
A unique Finnish household-level data from 1994 to 2009 allow us to measure how households' financial expectations are related to the subsequent outcomes. We use the difference between the two to measure forecast errors and household optimism and link the errors to households' borrowing...
Persistent link: https://www.econbiz.de/10013104174
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Consumer Credit : Too Much or Too Little (or Just Right)?
Zinman, Jonathan - 2013
The intersection of research and policy on consumer credit often has a Goldilocks feel. Some researchers and policymakers posit that consumer credit markets produce too much credit. Other researchers and policymakers posit that markets produce too little credit. I review theories and evidence on...
Persistent link: https://www.econbiz.de/10013072659