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Our understanding of risk preferences can be sharpened by considering their evolutionary basis. The existing literature … has focused on two sources of risk: idiosyncratic risk and aggregate risk. We introduce a new source of risk, heritable … risk, in which there is a positive correlation between the fitness of a newborn agent and the fitness of her parent …
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As elsewhere in the world, in the Western Balkans the COVID-19 pandemic has plunged countries into deep recession. Because of the recession, labor market conditions have taken a turn for the worse and welfare improvements have been interrupted, although government response measures cushioned the...
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'It is a conventional belief that the Chinese industrial economy is dominated by large state-owned enterprises closely connected with political power. While this perception is correct for some industries, such as petroleum refinery, this fascinating book, edited by Mariko Watanabe, presents us...
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