We study the transmission of risk attitudes in a unique survey of mothers and children in which both participated in an incentivized risk preference elicitation task. We document that risk preferences are correlated between mothers and children when the children are just 7 to 8 years old. This...

The aim of this paper is to understand what a recession means for individual consumers, and to model in a life-cycle framework how individuals respond to recessions. Our focus is on the sharp increase in savings rates that have been observed in the current and recent recessions. We show...

The aim of this paper is to understand what a recession means for individual consumers, and to model in a life-cycle framework how individuals respond to recessions. Our focus is on the sharp increase in savings rates that have been observed in the current and recent recessions. We show...

We propose a convenient method to run online economic experiments via z-Tree, should a virtual lab with a file server exist. Assuming these technologies are already available in many universities, this method does not require any additional tool or resource. Once the setup is completed, a...

In this paper, we study parental beliefs about the technology which maps parental investments into future child outcomes. We document that parents perceive late investments as more productive than early investments, and that they perceive investments in different time periods as substitutes....

To understand the socio-economic enrollment gap in university attendance, we elicit students’ beliefs about the benefits of university education in a sample of 2,540 secondary school students. Our choice model estimates reveal that perceived non-pecuniary benefits explain a large share of the...