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Individual Risk Attitudes: Measurement, Determinants and Behavioral Consequences
This paper studies risk attitudes using a large representative survey and a complementary experiment conducted with a representative subject pool in subjects’ homes. Using a question asking peopleExpand
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Are Risk Aversion and Impatience Related to Cognitive Ability?
Is the way that people make risky choices, or tradeoffs over time, related to cognitive ability? This paper investigates whether there is a link between cognitive ability, risk aversion, andExpand
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A Theory of Reciprocity
This Paper presents a formal theory of reciprocity. Reciprocity means that people reward kind actions and punish unkind ones. The theory takes into account that people evaluate the kindness of anExpand
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The Intergenerational Transmission of Risk and Trust Attitudes
Recent theories endogenize the attitude endowments of individuals, assuming that they are shaped by the attitudes of parents and other role models. This paper tests empirically for the relevance ofExpand
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Performance Pay and Multi-Dimensional Sorting: Productivity, Preferences and Gender
This paper studies the impact of incentives on worker self-selection in a controlled laboratory experiment. Subjects face the choice between a fixed and a variable payment scheme. Depending on theExpand
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On the Nature of Fair Behavior
This Paper shows that identical offers in an ultimatum game generate systematically different rejection rates depending on the other offers that are available to the proposer. This result casts doubtExpand
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The hidden costs of control
We analyze the consequences of control on motivation in an experimental principalagent game, where the principal can control the agent by implementing a minimum performance requirement before theExpand
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Global Evidence on Economic Preferences
This paper studies the global variation in economic preferences. For this purpose, we present the Global Preference Survey (GPS), an experimentally validated survey dataset of time preference, riskExpand
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Cross-Sectional Earnings Risk and Occupational Sorting: The Role of Risk Attitudes
This paper investigates whether risk preferences explain how individuals are sorted into occupations with different earnings variability. We exploit data from the German Socio-Economic Panel, whichExpand
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Psychological Foundations of Incentives
During the last two decades economists have made much progress in understanding incentives, contracts and organisations. Yet, they constrained their attention to a very narrow and empiricallyExpand
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