We develop a structural model to address the question whether, and to what extent, expert panelists engage in herd behavior when voting on important policy questions. Our data comes from FDA advisory committees voting on questions concerning the approval of new drug applications. We utilize a change in the voting procedure from sequential to simultaneous voting to identify herding. Estimates suggest ...
In this research we investigate the psychological determinants of resilience. Specifically, we observe whether the adaptation process to negative life events is different across the distribution of personality traits (the so-called big five) and of different life attitudes (such as locus of control and risk aversion). We take into consideration two different areas of shocking events: the job...
This joint project aims to compare the scientific advantages and disadvantages of “traditional” survey methods used by the SOEP and the innovative web-based sampling methods used by Civey and to identify potential research synergies resulting from combinations of the two approaches. On the one hand, Civey’s web-based approach is likely to offer access to population groups that SOEP is currently...
We analyze the political economy of the public provision of private goods when individuals care about their social status. Status concerns motivate richer individuals to vote for the public provision of goods they themselves buy in markets: a higher provision level attracts more individuals to the public sector, enhancing the social exclusivity of market purchases. Majority voting may lead to a public ...
