In this paper, I quantify the impact of state-level macroeconomic conditions during childhood on investment decisions in adulthood. The use of intertemporal withinstate variation allows me to control for potentially confounding unobservable national conditions. Unlike previous research that uses national aggregates, I find a significant effect of childhood macroeconomic conditions on investment...

There has been unprecedented public investment in sequencing human and cancer genomes in the hopes of understanding disease [1, 2]. At the same time, large genome-wide association studies have helped elucidating the genetic underpinning of common diseases, identifying thousands of putative disease relevant loci [7, 8]. Complementary molecular profiling studies have revealed that several of thes...

Land development is a typical one-shot decision for private investors due to the huge investment expense and the fear of substantial loss. In this paper, a private real estate investment problem is analyzed within a one-shot decision framework, which is used for a situation where a decision is made only once. The one-shot decision framework involves two steps. The first is to identify which sta...

There have been many studies on the management of personal information such as PIN code, password, etc. Most schemes include a server containing explicit personal information, and if one can attack this server successfully, then he/she can reach whole personal information on the server. Since information is centralised, the responsibility for services and information is also centralised. There ...

This paper investigates whether the personal trading decisions of CEOs are related to their corporate acquisition decisions. We find that the personal trading performance of CEOs is significantly and positively related to the short-term market reaction to their mergers and CEOs exhibiting greater turnover on their personal common equity portfolios undertake acquisitions more frequently. Hence a...

From the economic perspective, training can be perceived as an enterprise’s act of investing in employees, and the post-training transfer effect is the return acquired by the enterprise. Obviously, training transfer provides a new perspective for research of the training effect and training return on investment of the enterprise. From three aspects including personal characteristics, training d...

Risk Tolerance and Entrepreneurship A tradition from Knight (1921) argues that more risk tolerant individuals are more likely to become entrepreneurs, but perform worse. We test these predictions with two risk tolerance proxies: stock market participation and personal leverage. Using investment data for 400,000 individuals, we find that common stock investors are around 50 percent more likely t...