A Novel Sampling Strategy for Surveying High Net-Worth Individuals—A Pretest Application Using the Socio-Economic Panel

High-wealth individuals are typically underrepresented or completely missing in population surveys. The lack of comprehensive national registers on high-wealth individuals in many countries challenged previous attempts to remedy this under-representation. In a novel research design, we draw on public data on the shareholding structures of companies as a sampling frame. Our design builds on the empirical regularity that high-wealth individuals are likely to hold at least part of their assets in the form of shareholdings. Based on data from over 270 million companies worldwide, we select all individuals who are both German residents and registered shareholders of companies. In a pretest, we interviewed 124 households from a gross sample of 2,000 anchor persons. Our analysis shows that values of shareholdings from register data highly correlate with individual ranks in the wealth distribution, that the quality of personal information, particularly the residential address, is sufficiently high for subsequent interviewing, and that the approach can fill a major data and research gap in the study of high-wealth individuals.     

Unpaid household work and the distribution of extended income: The Norwegian experience

Measurement of unpaid household work is important in order to better understand income distribution as well as to give visibility to women's work and achieve more comprehensive estimates of the level of economic activity. This article surveys estimates of unpaid household work in Norway for use in national accounts and analysis of consumption possibilities. The latter are measured by extended income, defined as income after tax plus the value of unpaid household work. We find that extended income appears to be more evenly distributed than money income.     

Contextual embeddedness of careers: female “nonsurvivors” and their gendered relational context

Our aim is to contribute to a better understanding of the contextual embeddedness of women's careers. To do this, we leverage feminist relational theory (a) to understand the relational context of women's careers in Lebanon, with a particular focus on working‐self and career investments, and (b) to trace the gendered power dynamics of career investments in the relational context of work. Through examining the narratives of 24 Lebanese female “nonsurvivors” (i.e., used to work but are not currently engaged in paid work), our findings paint a complex and nuanced picture of different relational contexts. Represented on a continuum ranging from minimally conducive for women's careers to contexts that are incrementally more conducive, the differences between these contexts are unpacked through drawing attention to the gendered power dynamics shaping women's (dis)connection with their working self, the perceived (mis)alignment of others, and the career investments that they make. Our contribution lies in augmenting our understanding of the contextual embeddedness of women's careers by demonstrating the theoretical and practical utility of bringing a deeper feminist analysis to understand the relational context of work.     

Asymmetric Information in Simple Bargaining Games: An Experimental Study

Bilateral bargaining situations are often characterized by informational asymmetries concerning the size of what is at stake: in some cases, the proposer is better informed, in others, it is the responder. We analyze the effects of both types of asymmetric information on proposer behavior in two different situations which allow for a variation of responder veto power: the ultimatum and the dictator game. We find that the extent to which proposers demand less in the ultimatum as compared to the dictator game is (marginally) smaller when the proposer is in the superior information position. Further we find informed proposers to exploit their informational advantage by offering an amount that does not reveal the true size of the pie, with proposers in the ultimatum game exhibiting this behavioral pattern to a larger extent than those in the dictator game. Uninformed proposers risk imposed rejection when they ask for more than potentially is at stake, and ask for a risk premium in dictator games. We concentrate on proposers, but also explore responder behavior: We find uninformed responders to enable proposers’ hiding behavior, and we find proposer intentionality not to play an important role for informed responders when they decide whether to accept or reject an offer by an (uninformed) proposer.     

Import-push or export-pull? An industry-level analysis of the impact of trade on firm exit

Does the selection effect of trade work solely through competition from imports, or does the export market further contribute to firm selection? This paper provides a re-interpretation of the different mechanisms in terms of selection on profitability—rather than productivity—and derives novel predictions regarding the export market and the role of product differentiation. Empirical results for a sample of Danish manufacturing industries confirm the import-“push” hypothesis as well as the export-“pull” hypothesis, but also reveal differences across industries. The selection effect of trade is mainly driven by the “import-push” if product differentiation is high, whereas it is driven by the “export-pull” if goods are homogeneous.     

Intertemporal risk-return trade-off in foreign exchange rates

We investigate the intertemporal risk-return trade-off of foreign exchange (FX) rates for ten currencies quoted against the USD. For each currency, we use three risk measures simultaneously that pertain to that currency; its realized volatility, its realized skewness, and its value-at-risk. We apply monthly FX excess returns and risk measures calculated from daily observations. We find that there is a significant contemporaneous risk-return trade-off for the currencies under investigation. There is no evidence of noncontemporaneous risk-return trade-off. We pay special attention to the risk-return trade-off during the recent financial crisis.     

Work versus windfall: An exploration of saving on subsequent purchase

Previous research has examined the effects of discounts and promotions on the future performance of a brand or store. However, no attempts have been made to explore how a consumer psychologically accounts for the way a savings is obtained or how that accounting process affects subsequent purchase decisions. This research employs an experimental approach to test the hypothesis that buyers will spend more (save less) of a savings that they obtain from a windfall gain than an equivalent amount obtained from a worked-for savings. Results are generally supportive of the hypothesis, revealing that consumers do treat savings differently depending on how they are obtained. This finding appears to hold over a wide range of saving magnitudes.     

Sustainable consumption in Vietnam: an explorative study among the urban middle class

The middle class of Vietnam is growing and so is their consumption, especially in urban areas. This is due to the effects of rapid economic growth, industrialization and increasing wealth in combination with a young, growing population. This paper aims to understand current consumption patterns and consumption categories that can provide a start for sustainable lifestyles among the Vietnamese middle class. Data was collected in the capital Hanoi, in the north of Vietnam. The current level of awareness, knowledge and attitude was explored on five specific consumption topics: energy, transport, water, waste, and food. A combination of quantitative and qualitative data was collected: 5 focus groups, 5 in‐depth interviews and a survey among 158 Vietnamese urban middle class consumers. The results are discussed according to the MOA model that explains behaviour as a function of three components: Motivation, Opportunity and Ability. The research concludes that awareness and knowledge of the urban middle class in Vietnam on sustainable consumption is generally low. However, the motivation to live healthy lifestyles and protect the planet for their future generations is rather high. In order to support more sustainable lifestyles, the awareness of environmental issues needs to be increased; knowledge needs to be made available and accessible (ability); and role models need to set an example for the urban middle class of Vietnam. Furthermore, health in combination with food is the most important reason for people to pursue a sustainable lifestyle (motivation) and the need to change was expressed. However, a general distrust towards business and governmental actors was also found. Therefore, opportunities for bottom‐up initiatives for sustainable food consumption must be explored in the future. This could support in engaging the middle class of Vietnam in sustainable lifestyles.     

Household Transport Demand in a CGE-framework

The main objective of this study is to improve the modelling of household demand for transport services in a Computable General Equilibrium (CGE) model. The new extended model is then used for numerical calculations to test how the Swedish economy reacts to a carbon target. Special attention will be given to distributional effects and the connection between labour supply and work journeys in a sparsely populated country like Sweden. A differentiation between trip purposes and trip length, a complementary relationship between work journeys and labour supply, and a subdivision of households by density of population and income influence the numerical results. Our main conclusions from the analysis of a carbon target are that if the carbon tax revenue is recycled by decreasing the employers’ social contribution fee, welfare costs are lower than with lump-sum replacements of tax revenue to households. The welfare cost may be reduced even further if work journeys are not additionally taxed as compared to the base year. However, the lower total welfare cost is obtained at the expense of making society more unequal, since both labour tax recycling (cuts in employers’ social contributions) and exempting tax on work journeys will make low income groups carry a higher burden. An increased carbon dioxide tax is also shown to increase welfare differences between sparsely populated areas and city regions in Sweden.