Bertrand, Kamenica, and Pan (2015) document that in the United States there is a discontinuity to right of 0.5 distribution households according female share total earnings, which they attribute existence gender identity norm. We provide an alternative explanation for this discontinuity. Using linked employer-employee data from Finland, we show emerges as result equalization convergence earning...

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 risk attitudes. Using a large-panel dataset, identify happiness, anger, and fear as significant correlates of within-person Robustness checks indicate limited role alternat...

This paper empirically analyzes the determinants of demand in the German automobile industry. Our primary goal is to refine the existing literature on that topic by exploring the impact of uniqueness seeking behaviour of individuals on the demand schedule. Using a dataset on the segment of compact cars in the German market, we show that consumers have an intrinsic need for uniqueness seeking, a...

We explore how private drug plans set cost-sharing in the context of Medicare Part D. While publicly-provided drug coverage typically involves uniform cost-sharing across drugs, we document substantial heterogeneity in the cost-sharing for different drugs within privately-provided plans. We also document that private plans systematically set higher consumer cost sharing for drugs or classes ass...

Permanent and widespread psychological biases affect both the subjective probability of future economic events and their retrospective interpretation. They may give rise to a systematic gap between (over-critical) judgments and (over-optimistic) expectations the “forecast” error. When things go bad, then, psychology suggests that people tend to become particularly optimistic, amplifying the for...

In the cross-section of households, the portfolio share rises in wealth and has a non-decreasing age profile. The standard life-cycle model with homothetic utility and non-tradable labor income has the counterfactual implication that the portfolio share falls in both wealth and age. We develop a life-cycle model in which households have nonhomothetic utility over two types of consumption goods,...

In the present article, mechanistic equations for membrane transport of N + 1-component solutions have been derived. The major specific investigation result is the introduction - for ternary solutions - of two diffusion coefficients omega(d1) and omega(d2) for solutes, as well as two cross coefficients omega(d12) and omega(d21) for these solutes. The latter parameters may be treated as coeffici...

Tuberculosis (TB) is a chronic granulomatous infection caused by acid-fast mycobacterium tuberculosis bacilli. Spinal involvement occurs in less than one percent of TB. Spinal TB (Pott's disease) accounts for 50% of skeletal TB. Though it most commonly affects the thoracolumbar junction, it can occur at any level of the spine. Early diagnosis and treatment is mandatory in order to avoid neurolo...

We examine the relationship between attendance, uncertainty of outcome, and team quality in the National Hockey League. Based on results from a reduced form model of attendance at 6054 regular season NHL games from 2005/06 to 2009/10, we find evidence that attendance increases when fans expect the home team to win by a large margin. Attendance increases for home team underdogs, but the extent o...

I study how consumers respond to competing pieces of information that differ in their degree of complexity and informativeness. In particular, I study the choice of refrigerators in the U.S., where a mandatory disclosure labeling program provides detailed information about energy cost, and a certification labeling program provides a simple binary-star rating related to energy use. I find that t...