We decompose permanent earnings risk into contributions from hours and wage shocks. To distinguish between hours shocks, modeled as innovations to the marginal disutility of work, and labor supply reactions to wage shocks we formulate a life-cycle model of consumption and labor supply. Both permanent wage and hours shocks are important to explain earnings risk, but wage shocks have greater
Abstract: How exactly do individuals approach financial decisions? Do they apply sophisticated formulas, back of the envelope math, do they guess or something else? We show that literally asking individuals to explain their approaches generates new insights about those questions that are reliable and have predictive power out of sample. We find, for example, that when assessing the
Antibiotics have contributed to a tremendous increase in human well-being, saving many millions of lives. However, antibiotics become obsolete the more they are used as selection pressure promotes the development of resistant bacteria. The World Health Organization has proclaimed antibiotic resistance as a major global threat to public health. Today, 700,000 deaths per year are due to
Abstract: When a patient with symptoms of urinary tract infection arrives at a physician's office, it needs to decide which antibiotic drug to prescribe. A drug's efficacy in treating the infection depends on the individual, time-dependent resistance profile of the bacterium causing the infection. Physicians can conduct antibiotic susceptibility tests in order to create current resistance profiles
To internalize pollution externalities of municipal waste, Pay-As-You-Throw (PAYT) pricing schemes for unsorted waste are adopted worldwide. This paper estimates causal effects of PAYT on unsorted, recycling and total waste generation, and analyzes the determinants of policy adoption and compliance. The empirical strategy uses a multiple random forest approach on a unique six-year panel data
Berlin Centre for Consumer Policies will Fokus der Forschung auf die Chancen und Herausforderungen der Digitalisierung legen – Zweite Förderphase läuft bis Ende 2023 – Neuer Kooperationspartner mit an Bord
Der Leibniz-WissenschaftsCampus Berlin Centre for Consumer Policies (BCCP) erhält von der Leibniz-Gemeinschaft eine weitere Förderung von insgesamt 1,1 Millionen
Diese Webseite verwendet Cookies. In unserer Datenschutzerklärung finden Sie Informationen zum Einsatz dieser Cookies sowie zu den Möglichkeiten, sie abzulehnen.