Individuals often have to decide to which degree of risk they want to expose others, or how much risk to accept if their choice has an externality on third parties. One typical application is a household. We run an experiment in the German Socio-Economic Panel with two members from 494 households. Participants have a good estimate of each other’s risk preferences, even if not explicitly informed. They ...
The goal of this study was to identify and empirically test variables that indicate how well partners in relationships know each other’s food preferences. Participants (n = 2,854) lived in the same household and were part of a large, nationally representative panel study in Germany. Each partner independently predicted the other’s preferences for several common food items. Results show that predictive ...
This study examines the association between sibship size and wealth in adulthood. The study draws on resource dilution theory and additionally discusses potentially wealth-enhancing consequences of having siblings. Data from the German Socio-Economic Panel Study (SOEP, N = 3502 individuals) are used to estimate multilevel regression models adjusted for concurrent parental wealth and other important ...
Previous work has shown that preferences are not always stable across time, but surprisingly little is known about the reasons for this instability. I examine whether variation in people’s emotions over time predicts changes in preferences. Using a large panel data set, I find that within-person changes in happiness, anger, and fear have substantial effects on risk attitudes and patience. Robustness ...
Does birth order shape people’s propensity to take risks? Evidence is mixed. We used a three-pronged approach to investigate birth-order effects on risk taking. First, we examined the propensity to take risks as measured by a self-report questionnaire administered in the German Socio-Economic Panel, one of the largest and most comprehensive household surveys. Second, we drew on data from the Basel–Berlin ...
This article examines heterogeneity in the effect of unemployment on social participation. Whereas existing studies on this relationship essentially estimate mean effects, we use quantile regression methods to provide a broader and more complete picture. To ac-count for the potential endogeneity of job loss, we estimate quantile treatment effects (on the treated) based on entropy balancing and focus ...
This paper studies self-control in a nationally representative sample. Using the well-established Tangney scale to measure trait self-control, we find that people’s age as well as the political and economic institutions they are exposed to have an economically meaningful impact on their level of self-control. A higher degree of self-control is, in turn, associated with better health, educational and ...
Current research on maternal and parental leave focuses on leave take-up and employment outcomes, finding that short leaves have beneficial labor market outcomes. As the US faces below replacement fertility and an aging population, we need to consider potential unintended fertility consequences of these policies. Generous European and Australian leave policies have increased fertility and...
The physical destructions, expropriations, resettlements, and interruptions of international trade during Second World War caused a sharp reduction of wealth levels and inequality in many countries (Piketty, 2014). In Germany, an estimated 20 percent of the West German housing stock was destroyed. This paper assesses whether the effects of this destruction are measurable in the...
Die Corona-Krise verändert nahezu alle Aspekte des gesellschaftlichen Lebens in Deutschland und weltweit. Die mit der Eindämmung des Virus verbundenen Maßnahmen wie Kontaktbeschränkungen, „Social Distancing“ und die Schließung von Schulen, Geschäften, Restaurants und kulturellen Einrichtungen beeinflussen dabei insbesondere das soziale Miteinander sowohl in Organisationen, Gruppen und Vereinen, als ...
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