Does Women's Preference for Highbrow Leisure Begin in the Family? Comparing Leisure Participation among Brothers and Sisters

Research shows that women are more likely than men to participate in highbrow leisure activities, but we do not know whether this gap develops within the family at an early age or is the outcome of socioeconomic differences between men and women later in life. We compare highbrow leisure participation among brothers and sisters from the same family and report three findings: (1) gender differences in highbrow leisure participation are largely unrelated to family background, (2) there is little evidence that parents engage in gender-specific cultural socialization, and (3) socioeconomic position and family obligations account for less than 20% of brother-sister differences in highbrow leisure participation. Our results suggest that gender differences in highbrow leisure participation originate in factors outside the family.     

A colonial legacy of African gender inequality? Evidence from Christian Kampala, 1895–2011

The colonial legacy of African underdevelopment is widely debated but hard to document. In this article, occupational statistics from Protestant marriage registers of historical Kampala are used to investigate the hypothesis that African gender inequality and female disempowerment are rooted in colonial times. We find that the arrival of Europeans in Uganda ignited a century‐long transformation of Kampala involving a gender Kuznets curve. Men rapidly acquired literacy and quickly found their way into white‐collar (high‐status) employment in the wage economy built by the Europeans. Women took somewhat longer to obtain literacy and considerably longer to enter into white‐collar and waged work. This led to increased gender inequality during the first half of the colonial period. However, gender inequality gradually declined during the latter half of the colonial era, and after Uganda's independence in 1962 its level was not significantly different from that of pre‐colonial times. The data presented here also support Boserup's view that gender inequality was rooted in indigenous social norms: daughters of African men who worked in the traditional, informal economy were less well‐educated, less frequently employed in formal work, and more often subjected to marital gender inequality than daughters of men employed in the modernized, formal economy created by the Europeans.     

Investor Overconfidence in Experimental Asset Markets across Market States

Abstract

This study explores how individual overconfidence adjusts after receiving extreme feedback that either supports or contradicts previous decision-making when buying or selling stocks. We find that highly contradicting feedback causes overconfidence to vanish as confidence declines sharply while supportive signals cause overconfidence to increase. Further evidence suggests that strong feedback impulses are associated with higher investor disagreement, supporting prior hypotheses that investors interpret such impulses differently. We also find that methodologies that measure overconfidence in prediction tasks systematically overstate confidence scores as respondents tend to fail to internalize stated confidence intervals appropriately.     

Are family allowances and fertility-related pensions perfect substitutes?

This paper discusses alternative ways to deal with the positive externalities of having children in a pay-as-you-go pension system. Family allowances are compared to introducing a fertility-related component into the pension formula. In an endogenous labor supply setting, both instruments are shown to be equivalent if general pensions are related to previous contributions. In contrast, if general pensions are of the flat-rate type, making pensions contingent on the number of children is generally preferable to family allowances because the latter creates a larger tax load on labor supply.