Using a simple theoretical model we conjecture that dual practice may increase the number of patients seen but reduce hours spent at public facilities, if public physicians lack motivation and/or if their opportunity costs are very large. Using data from Indonesia, we then test these theoretical...

This paper conducts a laboratory experiment to assess the optimal portfolio allocation under quantile preferences (QP) and compare the model's predictions with those of the expected utility theory using a mean-variance (MV) utility function. We estimate the risk aversion coefficients associated...

Rapid trade liberalization can exert profound effects on labor markets. Domestic firms, to sustain competitiveness for survival, could react through cutting labor benefits to achieve cost reductions. Alternatively, trade liberalization may alter the industry composition of firms changing the...

This paper develops a model for optimal portfolio allocation for an investor with quantile preferences, i.e., who maximizes the τ-quantile of the portfolio return, for τ ∈ (0,1). Quantile preferences allow to study heterogeneity in individuals' portfolio choice by varying the quantiles, and...

Managing dual practice of health workers has often proved to be challenging, especially in emerging countries characterized by weak monitoring and low motivation. This paper exploits an exogenous variation in the initiation of private practice among heads of local public facilities (known as...