We use instrumental variable methods to investigate whether the impact of parental smoking habits on their children's smoking decisions is a causal one. We find evidence of same-sex role models in two-parent households: mothers play a crucial role in determining their daughters' smoking...

This study presents a novel empirical approach to identify financing constraints for innovation based on the idea of an ideal test as suggested by Hall (2008). Firms were offered a hypothetical payment and were asked to choose between alternatives of use. If they choose additional innovation...

This paper provides a joint analysis of household stockholding participation, stock location among stockholding modes, and participation spillovers, using data from the US Survey of Consumer Finances. Our multivariate choice model matches observed participation rates, conditional and...

We investigate US households' direct investment in stocks, bonds and liquid accounts and their foreign counterparts, in order to identify the different participation hurdles affecting asset investment domestically and overseas. To this end, we estimate a trivariate probit model with three...

Factors affecting the adoption of crop insurance, forward contracting, and spreading sales areanalyzed using multivariate and multinomial probit approaches that account for simultaneousadoption and/or correlation among the three risk management adoption decisions. Our empiricalresults suggest...

The economic costs of chronic health conditions and severe illnesses like diabetes, coronary heart disease or cancer are immense. Several clinical trials give information about the importance of individual behaviour for the prevalence of these illnesses. Changes in health relevant behaviour may...

This paper provides a joint analysis of household stockholding participation, stock location among stockholding modes, and participation spillovers, using data from the US Survey of Consumer Finances. Our multivariate choice model matches observed participation rates, conditional and...