We investigate whether the value of time (VOT) depends on when the corresponding preferences are measured: in advance, just before, or after the time period for which the time preferences are being evaluated. We find that the VOT is highest when elicited just before the time period. This is an...

The interaction of debt and economic performance has been getting more at-tention over the last few years. However, models making provision for debt are still out-numbered by models completely ignoring it. This paper is the first one to analyze therelationship between household debt (in the form...

Theoretical models of social capital (David, Janiak, and Wasmer 2010; Bräuninger and Tolciu 2011) predict that communities may find themselves in one of two equilibria: one with a high level of local social capital and low migration or one with a low level of local social capital and high...

Governments and organizations often implement policies designed to help people in case of an undesirable event. Such policies can make the society better off, but they may also create moral hazard. We use a laboratory experiment to examine two questions. First, can discretionary decisions to...