This study examines the enduring spatial and racial dimensions of poverty and deprivation in South Africa to assess the progress made by the post-apartheid society and state. A multi-dimensional approach is required to assess progress because it can reflect the reduction in deprivation...

Education is increasingly seen as a substitute for social policy, but opportunities for skill development vary by social background and educational institutions are not neutral in this respect. While previous research has extensively examined how schooling affects skills distribution, the role...

Poverty – differently defined and measured – still remains one the crucial parts of the world development debate. It`s broadly perceived as multidimensional phenomenon which deprives people from basic capabilities and freedoms, limits their opportunity to educate and fully participate in the...

A choice problem is risky (respectively ambiguous) if the decision maker is choosing between probability distributions (respectively sets of probability distributions) over utility relevant consequences. We provide an axiomatic foundation for and a representation of continuous linear preferences...

I analyze optimal natural resource use in an intergenerational model with the risk of a catastrophe. Each generation maximizes a weighted sum of discounted utility (positive) and the probability that a catastrophe will occur at any point in the future (negative). The model generates time-...

Prior research suggests that those who rely on intuition rather than effortful reasoning when making decisions are less averse to risk and ambiguity. The evidence is largely correlational, however, leaving open the question of the direction of causality. In this paper, we present experimental...