Based on subjective survival probability questions in the Health and Retirement Study (HRS), we use an econometric model to estimate the determinants of individual-level uncertainty about personal longevity. This model is built around the Modal Response Hypothesis (MRH), a mathematical...

This paper characterizes heterogeneity of the beliefs of American households about future stock market returns, provides an explanation for that heterogeneity and establishes its relationship to stock holding behavior. We find substantial belief heterogeneity that is puzzling since households...

This chapter describes the intellectual development and the empirical implications of the literature on the economics of fertility as it applies to fertility behavior in developed economies. The chapter reviews the literature on dynamic models of fertility behavior over the parents' life cycle,...

The chapter presents a survey and exposition of the development of the earnings function as an empirical tool for the analysis of the determinants of wage rates. Generically, the term earnings function has come to mean any regression of individual wage rates or earnings on a vector of personal,...

This paper characterizes heterogeneity of the beliefs of American households about future stock market returns, provides an explanation for that heterogeneity and establishes its relationship to stock holding behavior. We find substantial belief heterogeneity that is puzzling since households...