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作者：Hazan, M; Berdugo, B
作者单位：Hebrew University of Jerusalem
摘要：This paper explores the evolution of child labour, fertility and human capital in the process of development. In early stages of development, the economy is in a development trap where child labour is abundant, fertility is high and output per capita is low. Technological progress, however, gradually increases the wage differential between parental and child labour, thereby inducing parents to substitute child education for child labour and reduce fertility. The economy takes off to a sustaine...
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作者：Lanjouw, JO; Levy, PI
作者单位：Yale University
摘要：We explore the substitutability of formal and informal property rights using new survey data from Ecuador, where households have both formal and informal claims to urban residential property. We develop a model of property transactions that distinguishes between transferable and non-transferable claims, and show how this distinction affects the interpretation of hedonic price regressions. The unconditional effect of title is to raise properties' value by 23.5%. However, we also find that infor...
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作者：Sonsino, D; Benzion, U; Mador, G
作者单位：Technion Israel Institute of Technology
摘要：We present experimental evidence suggesting that human subjects dislike complexity in choice with uncertainty. Our results suggest that the probability of choosing a given alternative decreases with the relative complexity of that alternative. Complexity increases the noise in the choice process and the chances that the (otherwise) inferior alternative will be selected. Our results contradict the predictions of (discounted) expected utility theory and intuitively appealing axioms like 'stochas...
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作者：Angrist, J; Lavy, V
作者单位：Massachusetts Institute of Technology (MIT); National Bureau of Economic Research; Hebrew University of Jerusalem
摘要：How technology affects learning has been at the centre of recent debates over educational inputs. In 1994, the Israeli State Lottery sponsored the installation of computers in many elementary and middle schools. This programme provides an opportunity to estimate the impact of computerisation on both the instructional rise of computers and pupil achievement. Results from a Survey of Israeli school-teachers show that the influx of new computers increased teachers' use of computer-aided instructi...
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作者：Schankerman, M
作者单位：University of London; London School Economics & Political Science
摘要：We show how microeconomic data on investment plans can be used to study the structure of risk firms face. Revisions of investment plans form a martingale and reveal the underlying shocks driving investment. We decompose revisions in investment plans into micro, sector and aggregate shocks, and exploit stock market data to distinguish between structural (value-related) shocks and measurement error in investment revisions. Using panel data for US firms, we find that micro shocks are not the domi...
