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Which Progress for Poverty Studies Can We Expect from New Large Data Sources?

Armut und räumliche Polarisierung: Bremen und Köln

Positional income concerns and personality: evidence from Germany

This paper presents detailed evidence about who compares to whom in terms of relative income. We rely on representative survey data on the importance of income comparisons vis-a-vis seven reference groups, allowing us to exploit within-subject heterogeneity. We explore the prevalence and determinants of positional income concerns, investigating the role of personality and economic preferences. Our ...

Overconfidence over the lifespan: Evidence from Germany

This paper investigates if and how overconfidence at the individual level changes over the course of a life. We provide age profiles of a novel continuous overconfidence measure and the probability of being overconfident, conditioning on personality traits (including the Big 5 and optimism), economic preferences, cognitive ability, and the individual’s socio-economic status. Our empirical work relies ...

Time preferences and political regimes: Evidence from reunified Germany

We use the separation and later reunification of Germany after World War II to show that a political regime shapes time preferences of its residents. Using two identification strategies, we find that former residents of the German Democratic Republic exhibit a significantly less pronounced present bias when compared to former residents of the Federal Republic of Germany, whereas measures of patience are ...

Let Bygones be Bygones? Socialist Regimes and Personalities in Germany

This paper investigates the influence of political regimes on personality, using the separation of Germany into the socialist GDR and the democratic FRG and its reunification in 1990 as a natural experiment. We show that there are significant differences between former GDR and FRG residents regarding important attributes of personality (particularly the locus of control, neuroticism, conscientiousness, ...

The Individual and Joint Performance of Economic Preferences, Personality, and Self-Control in Predicting Criminal Behavior

We explore the individual and joint explanatory power of concepts from economics, psychology, and criminology for criminal behavior. More precisely, we consider risk and time preferences, personality traits from psychology (Big Five and locus of control), and a self-control scale from criminology. We find that economic preferences, personality traits, and self-control complement each other in predicting ...

Die Geheimnisse der Midlife-Crisis

Do individuals try to maximize general satisfaction?

The mystery of the U-shaped relationship between happiness and age

In this paper, we address the puzzle of the relationship between age and happiness. Whilst the majority of psychologists have concluded there is not much of a relationship at all, the economic literature has unearthed a possible U-shape relationship with the minimum level of satisfaction occurring in middle age (35–50). In this paper, we look for a U-shape in three panel data sets, the German Socioeconomic ...