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We use traded options on growth and value indices to test for clientele differences in risk preferences. Value investors appear to have exhibited a higher average level of risk aversion than growth investors for two different time periods in the late 1990's and early 2000's. We construct a model...
Persistent link: https://www.econbiz.de/10013156425
doctor attendance. The scale of the experiment permits an investigation into the mechanisms underlying this result. We find …
Persistent link: https://www.econbiz.de/10012989118
This study argues that economic vulnerability causes citizens to participate in clientelism, a phenomenon with various … typically have more resources for clientelism. Findings are observed not only during the election campaign, but also a full year …
Persistent link: https://www.econbiz.de/10012951870
Across the social sciences, a key question is how societies manage to enforce cooperative behavior in social dilemmas such as public goods provision or bilateral trade. According to an influential body of theories in psychology, anthropology, and evolutionary biology, the answer is that humans...
Persistent link: https://www.econbiz.de/10012954472
Can campaign promises change voter behavior, even where clientelism and vote buying are pervasive? We elicit …
Persistent link: https://www.econbiz.de/10012915220
Using a very large sample of matched author-referee pairs, we examine how the gender of referees and authors affects the former's recommendations. Relying on changing matches of authors and referees, we find no evidence of gender differences among referees in charitableness toward authors; nor...
Persistent link: https://www.econbiz.de/10013143764
We study the causes and consequences of patronage in Brazilian cities since the country's re-democratization. We test … patronage for public finances. Our data consist of the universe of public sector employees merged with their party affiliations …, and a dynamic regression discontinuity design is applied to disentangle patronage from the growing political participation …
Persistent link: https://www.econbiz.de/10012893592
The initial impact of the Asian financial crisis in Malaysia reduced the expected value of government subsidies to politically favored firms. Of the estimated $60 billion loss in market value for politically connected firms from July 1997 to August 1998, roughly 9% can be attributed to the fall...
Persistent link: https://www.econbiz.de/10013324120
Beginning in the 1880s, southern states introduced pensions for Confederate veterans and widows. They continued to expand these programs through the 1920s, while states outside the region were introducing cash transfer programs for workers, poor mothers, and the elderly. Using legislative...
Persistent link: https://www.econbiz.de/10013030624
Indonesia, using both a high-stakes field experiment that varied the extent of elite influence and non-experimental data on a …
Persistent link: https://www.econbiz.de/10013086681