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2D:4D Does Not Predict Economic Preferences: Evidence from a Large, Representative Sample

The digit ratio (2D:4D) is considered a proxy for testosterone exposure in utero, and there has been a recent surge of studies testing whether 2D:4D is associated with economic preferences. Although the results are not conclusive, previous studies have reported statistically significant correlations between 2D:4D and risk taking, altruism, positive reciprocity, negative reciprocity and trust. However, ...

Die nicht-binäre Erhebung von Geschlecht: Möglichkeiten, Herausforderungen, Perspektiven

Seit Ende 2018 gibt es in Deutschland, neben „männlich“ und „weiblich“, auch die Geschlechtsoption „divers“ im Personenstandregister. Die rechtliche Anerkennung der Existenz von mehr als zwei Geschlechtern in Deutschland muss sich jedoch in vielen Bereichen des Lebens erst schrittweise etablieren. So gibt es in Deutschland bislang kaum belastbare und...

The Effect of Self-Control on Borrowing: Experimental Evidence

This paper examines the effect of reduced self-control on debt-taking in a laboratory experiment. We manipulate self-control using an ego depletion task and show that it is effective. Following the ego depletion task, participants can anonymously buy hot drinks on credit. We find no significant average effects, but find that treated individuals that have low financial literacy are more likely to buy ...

Die moralisch blinden Flecken

Die Pandemie hat gezeigt, wie wenig wir zuweilen bereit sind zu investieren, um Schaden zu verhindern. Das gilt für viele Bereiche des Lebens. Wir sollten daraus lernen. Der schleppende Impfstart in Deutschland hat die Hoffnung auf eine rasche Normalisierung des täglichen Lebens verpuffen lassen. Dennoch gehen viele davon aus, dass Ende 2021 alles wieder so sein wird wie vor der Pandemie. ...

Changes in Optimism and Pessimism in Response to Life Events: Evidence from Three Large Panel Studies

Although individuals vary in how optimistic they are about the future, one assumption that researchers make is that optimism is sensitive to changes in life events and circumstances. We examined how optimism and pessimism changed across the lifespan and in response to life events in three large panel studies (combined N = 74,886). In the American and Dutch samples, we found that optimism increased ...

Emotions and Risk Attitudes

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 risk attitudes. Using a large panel data set, I identify happiness, anger, and fear as significant correlates of within-person changes in risk attitudes. Robustness checks indicate ...

Rationalität und Wettbewerb: Die ökonomische Leistungsfähigkeit von Individuen und Unternehmen

The Collaborative Research Center Transregio “Rationality and Competition” combines the research programs of behavioral and neoclassical economists to study applied economic questions that are of high policy relevance. The focus CRC TRR 190 is on the economic behavior and performance of individuals and firms: How do systematic biases in expectations, decision processes, and preferences affect the...

Rationality and Competition: The Economic Performance of Individuals and Firms

The Value of Time in the United States: Estimates from Nationwide Natural Field Experiments

Financial Literacy and Intra-household Decision Making: Evidence from Rwanda

Research has consistently shown that women’s involvement in household decision making positively affects household outcomes such as nutrition and education of children. Is financial literacy a determinant for women to participate in intra-household decision making? Using data on savings groups in Rwanda, we examine this relationship and show that women with higher financial literacy are more involved ...