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作者：Cesarini, David; Lichtenstein, Paul; Johannesson, Magnus; Wallace, Bjoern
作者单位：Massachusetts Institute of Technology (MIT); Karolinska Institutet; Stockholm School of Economics
摘要：Empirical evidence suggests that people on average overestimate their own ability in a variety of circumstances. Little is known, however, about the origins of such overconfidence. To shed some light on this issue, we use the classic twin design to estimate the genetic and environmental contributions to individual differences in overconfidence. We collect data on overconfidence among 460 twin pairs. Overconfidence is measured as the difference between the perceived and actual rank in cognitive...
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作者：Desmet, Klaus; Ortuno-Ortin, Ignacio; Weber, Shlomo
作者单位：Universidad Carlos III de Madrid; Southern Methodist University
摘要：This paper investigates the effect of linguistic diversity on redistribution in a broad cross-section of countries. We use the notion of linguistic distances and show that the commonly used fractionalization index, which ignores linguistic distances, yields insignificant results. However, once distances between languages are accounted for, linguistic diversity has both a statistically and economically significant effect on redistribution. With an average level of redistribution of 9.5% of GDP ...
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作者：Maier, Norbert; Ottaviani, Marco
作者单位：University of London; London School Economics & Political Science; Northwestern University
摘要：When should principals dealing with a common agent share their individual performance measures about the agent's unobservable effort for producing a public good? In a model with two principals who offer linear incentive schemes, we show that information sharing always increases total expected welfare if the principal who is less informed about the agent's effort also cares more about the agent's output. If the less-informed principal cares somewhat ( but not too much) less than the other princ...
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作者：Ganguli, Jayant Vivek; Yang, Liyan
作者单位：University of Cambridge; Cornell University
摘要：If traders can obtain private information about the payoff and the supply of a stock then there can exist (i) complementarity in information acquisition and (ii) multiple equilibria in the financial and information markets. The additional dimension of supply information increases coordination possibilities in the financial market, leading to multiple equilibria. The existence of two information sources can lead to information acquisition being complementary. The multiplicity of equilibria is s...
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作者：Clark, Andrew E.; Kristensen, Nicolai; Westergard-Nielsen, Niels
作者单位：Paris School of Economics; Aarhus University
摘要：We contribute to the literature on well-being and comparisons by appealing to new Danish data dividing the country up into around 9,000 small neighbourhoods. Administrative data provides us with the income of every person in each of these neighbourhoods. This income information is matched to demographic and economic satisfaction variables from eight years of Danish ECHP data. Panel regression analysis shows that, conditional on own household income, respondents report higher satisfaction level...
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作者：Rege, Mari; Telle, Kjetil; Votruba, Mark
作者单位：Universitetet i Stavanger; University System of Ohio; Case Western Reserve University
摘要：We investigate the impact of plant downsizing on disability pension utilization in Norway. Plant downsizing substantially increases the disability entry rate of workers in affected plants. Workers originally employed in plants that downsized by more than 60% between 1995 and 2000 were 24% more likely to utilize disability pensions in 2001 than comparable workers in non-downsized plants. We also estimate significant effects of downsizing on future earnings and mortality, which suggest that the ...
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作者：Bernheim, B. Douglas
作者单位：Stanford University
摘要：This paper discusses several competing proposals for general normative frameworks that would encompass non-standard models of choice. Most existing proposals equate welfare with wellbeing. Some assume that well-being flows from the achievement of well-defined objectives, and that those objectives also guide choices; the trick is to formulate a framework in which less-than-completely coherent choice patterns reveal the unobserved objectives. Others are predicated on the contention that well-bei...
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作者：Crepon, Bruno; Ferracci, Marc; Jolivet, Gregory; van den Berg, Gerard J.
作者单位：Japan Science & Technology Agency (JST); University of Bristol; Vrije Universiteit Amsterdam
摘要：This paper implements a method to identify and estimate treatment effects in a dynamic setting where treatments may occur at any point in time. By relating the standard matching approach to the timing-of-events approach, it demonstrates that effects of the treatment on the treated at a given date can be identified although non-treated may be treated later in time. The approach builds on a no anticipation assumption and the assumption of conditional independence between the duration until treat...
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作者：Daly, Michael; Harmon, Colm P.; Delaney, Liam
作者单位：Trinity College Dublin; University College Dublin
摘要：This paper considers the relationship between the economic concept of time preference and relevant concepts from psychology and biology. Using novel data from a time diary study conducted in Ireland that combined detailed psychometric testing with medical testing and real-time bio-tracking, we examine the extent to which individual differences in financial discounting are related to underlying biological and psychological differences. The paper finds that financial discounting is related to a ...
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作者：Calvo-Armengol, Antoni; de Marti Beltran, Joan
作者单位：Autonomous University of Barcelona; ICREA; Pompeu Fabra University
摘要：We model an organization as a game in which all agents share a common decision problem and some level of coordination is necessary between individual actions. Agents have individual private information concerning the task they have to perform, and they share this private information through pairwise channels of communication. We analyze how this communication pattern, modeled by means of a network structure, affects individual behavior and aggregate welfare. In the unique equilibrium of this B...
