Kapitel 2: Obwohl die Entwicklung von Fähigkeiten bereits Gegenstand zahlreicher Forschungsvorhaben war, ist bisher wenig über die Wirkung von Musik auf kognitive und nicht-kognitive Fähigkeiten bekannt. Die vorliegende Studie untersucht auf der Basis von Daten des Sozio-ökonomischen Panels, wie sich die Ausbildung auf einem Musikinstrument in Kindheit und Jugend auf die Entwicklung von Intelligenz, ...
Understanding the formation of trust at the individual level is a key issue given the impact that it has been recognized to have on economic development. Theoretical work highlights the role of the transmission of values such as trust from parents to their children. Attempts to empirically measure the strength of this transmission relied so far on the cross-sectional regression of the trust of children ...
This paper analyzes to what extent parental leave decisions of mothers with young children depend on the decisions made by their coworkers. The identification of peer effects, which are defined as indirect effects of the behavior of a social reference group on individual outcomes, bears various challenges due to correlated characteristics within social groups and endogenous group membership. We overcome ...
Multiplicative growth processes that are subject to random shocks often have an asymmetric distribution of outcomes. In a series of incentivized laboratory experiments, we show that a large majority of participants either strongly underestimatethe asymmetry or ignore it completely. Participants misperceive the spread of the outcome distribution to be too narrowband, and they estimate the median and ...
*****Volltextdokument auf Wunsch der Autoren gelöscht***** Web surveys technically allow providing feedback to respondents based on their previous responses. This personalized feedback may not only beused to target follow-up questions, it also allows test results to be returned immediately to respondents. This paper argues that the possibility of learning something about themselves increases respondents’ ...
This article studies the interaction of information disclosure and reputational concerns in certification markets. We argue that by revealing information less precisely, a certifier reduces the threat of capture because this reduces her gains from selling fraudulent certificates. As a result, only imprecise disclosure rules are implementable for intermediate discount factors. Our results therefore ...
This dissertation designs a metadata-driven infrastructure for panel data that aims to increase both the quality and the usability of the resulting research data. Data quality determines whether the data appropriately represent a particular aspect of our reality. Usability originates notably from a conceivable documentation, accessibility of the data, and interoperability with tools and other data ...
This paper employs numerical simulations of the Park and Sabourian (2011) herd model to derive new theory-based predictions for how information risk and market stress influence aggregate herding intensity. We test these predictions empirically using a comprehensive data set of high-frequency and investor-specific trading data from the German stock market. Exploiting intra-day patterns of institutional ...
