This paper reports on experiments where individuals are asked to make risky decisions for themselves as well as predicting the risky decisions of others. Prior research has generally shown that people expect women to be more risk averse than men and that they, in fact are - a result we also...

From the log-linearized consumption Euler equation, consumption growth of any horizon m is a function of the expected real return of maturity m, and they are linked through the elasticity of intertemporal substitution (EIS). Instead of using only the 1- period return and consumption growth, this...

This paper proposes and estimates a dynamic structural model of innovation in the super- computer industry to evaluate the dependence of technological innovation on market structure. The model has two key features. First, it allows for technological leapfrogging while controlling for...

A decomposition of aggregate labor productivity based on internationally comparable data reveals that a high share of employment and low labor productivity in agriculture are mainly responsible for low aggregate productivity in poor countries. Using a two-sector general-equilibrium model, we...

This paper is an empirical investigation of inequality of education opportunities in the Middle East and North Africa (MENA). We use student scores from tests administered by the international consortium Trends in Mathematics and Science Study (TIMSS) for a number of MENA countries and over time...

A foundational paradox in social choice theory is that liberalism (freedom of action) and Pareto efficiency, the standard in evaluating economic outcomes, can conflict with each other (Sen 1970). We capture this tension in a series of sequential Battle of the Sexes game experiments. We find that...