| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP6890 |
| DP6890 Executive Compensation and Stock Options: An Inconvenient Truth | |
| Jean-Pierre Danthine; John B Donaldson | |
| 发表日期 | 2008-06-27 |
| 出版年 | 2008 |
| 语种 | 英语 |
| 摘要 | Is the way that people make risky choices, or tradeoffs over time, related to cognitive ability? This paper investigates whether there is a link between cognitive ability, risk aversion, and impatience, using a representative sample of the population and incentive compatible measures. We conduct choice experiments measuring risk aversion, and impatience over an annual time horizon, for a randomly drawn sample of roughly 1,000 German adults. Subjects also take part in two different tests of cognitive ability, which correspond to sub-modules of one of the most widely used IQ tests. Interviews are conducted in subjects' own homes. We find that lower cognitive ability is associated with greater risk aversion, and more pronounced impatience. These relationships are significant, and robust to controlling for personal characteristics, educational attainment, income, and measures of credit constraints. We perform a series of additional robustness checks, which help rule out other possible confounds. |
| 主题 | Labour Economics |
| 关键词 | Risk preference Time preference Cognitive ability Field experiment |
| URL | https://cepr.org/publications/dp6890 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/535726 |
| 推荐引用方式 GB/T 7714 | Jean-Pierre Danthine,John B Donaldson. DP6890 Executive Compensation and Stock Options: An Inconvenient Truth. 2008. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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