作者：Bommier, Antoine
作者单位：Swiss Federal Institutes of Technology Domain; ETH Zurich
摘要：An axiomatic construction for life-cycle preferences accounting for the finiteness and the randomness of life duration is provided. We emphasize the role of intertemporal correlation aversion and explain why multiplicative preferences provide an interesting alternative to additive preferences, allowing risk aversion and intertemporal elasticity of substitution to be separated. Implications regarding the shape of the optimal consumption profiles are discussed.
作者：Segal, Carmit
作者单位：University of Zurich
摘要：Using data on young men from the National Education Longitudinal Survey, this paper investigates the relationship between childhood misbehavior and later education and labor market outcomes. The main finding is that eighth-grade misbehavior is important for earnings over and above eighth-grade test scores. Moreover, controlling for educational attainment, childhood misbehavior is associated with earnings at all educational levels, whereas achievement test scores are related to earnings only fo...
