| 1. |
- Briggs, Joseph, et al.
(författare)
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Windfall gains and stock market participation
- 2021
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Ingår i: Journal of Financial Economics. - : Elsevier BV. - 0304-405X .- 1879-2774. ; 139:1, s. 57-83
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Tidskriftsartikel (refereegranskat)abstract
- We exploit the randomized assignment of lottery prizes in a large administrative Swedish data set to estimate the causal effect of wealth on stock market participation. A $150,00 0 windfall gain increases the stock market participation probability by 12 percentage points among prelottery nonparticipants but has no discernible effect on prelottery stock owners. A structural life cycle model significantly overpredicts entry rates even for very high entry costs (up to $31,0 00). Additional analyses implicate pessimistic beliefs regarding equity returns as a major source of this overprediction and suggest that both recent and early-life return realizations affect beliefs.
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| 2. |
- Cesarini, David, et al.
(författare)
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The Effect of Wealth on Individual and Household Labor Supply : Evidence from Swedish Lotteries
- 2017
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Ingår i: The American Economic Review. - : American Economic Association. - 0002-8282 .- 1944-7981. ; 107:12, s. 3917-3946
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Tidskriftsartikel (refereegranskat)abstract
- We study the effect of wealth on labor supply using the randomized assignment of monetary prizes in a large sample of Swedish lottery players. Winning a lottery prize modestly reduces earnings, with the reduction being immediate, persistent, and quite similar by age, education, and sex. A calibrated dynamic model implies lifetime marginal propensities to earn out of unearned income from -0.17 at age 20 to -0.04 at age 60, and labor supply elasticities in the lower range of previously reported estimates. The earnings response is stronger for winners than their spouses, which is inconsistent with unitary household labor supply models.
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| 3. |
- Cesarini, David, et al.
(författare)
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WEALTH, HEALTH, AND CHILD DEVELOPMENT : EVIDENCE FROM ADMINISTRATIVE DATA ON SWEDISH LOTTERY PLAYERS
- 2016
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Ingår i: Quarterly Journal of Economics. - : Oxford University Press (OUP). - 0033-5533 .- 1531-4650. ; 131:2, s. 687-738
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Tidskriftsartikel (refereegranskat)abstract
- We use administrative data on Swedish lottery players to estimate the causal impact of substantial wealth shocks on players' own health and their children's health and developmental outcomes. Our estimation sample is large, virtually free of attrition, and allows us to control for the factors conditional on which the prizes were randomly assigned. In adults, we find no evidence that wealth impacts mortality or health care utilization, with the possible exception of a small reduction in the consumption of mental health drugs. Our estimates allow us to rule out effects on 10-year mortality one sixth as large as the cross-sectional wealth-mortality gradient. In our intergenerational analyses, we find that wealth increases children's health care utilization in the years following the lottery and may also reduce obesity risk. The effects on most other child outcomes, including drug consumption, scholastic performance, and skills, can usually be bounded to a tight interval around zero. Overall, our findings suggest that in affluent countries with extensive social safety nets, causal effects of wealth are not a major source of the wealth-mortality gradients, nor of the observed relationships between child developmental outcomes and household income.
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| 4. |
- Dawes, Christopher T., et al.
(författare)
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Linking Genes and Political Orientations: Testing the Cognitive Ability as Mediator Hypothesis
- 2015
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Ingår i: Political Psychology. - : Wiley: 24 months. - 1467-9221 .- 0162-895X. ; 36:6, s. 649-665
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Tidskriftsartikel (refereegranskat)abstract
- Recent research has demonstrated that genetic differences explain a sizeable fraction of the variance in political orientations, but little is known about the pathways through which genes might affect political preferences. In this article, we use a uniquely assembled dataset of almost 1,000 Swedish male twin pairs containing detailed information on cognitive ability and political attitudes in order to further examine the genetic and environmental causes of political orientations. Our study makes three distinct contributions to our understanding of the etiology of political orientations: (1) we report heritability estimates across different dimensions of political ideology; (2) we show that cognitive ability and political orientations are related; and (3) we provide evidence consistent with the hypothesis that cognitive ability mediates part of the genetic influence on political orientations. These findings provide important clues about the nature of the complex pathways from molecular genetic variation to political orientations.
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| 5. |
- Lindqvist, Erik, et al.
(författare)
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Long-run Effects of Lottery Wealth on Psychological Well-being
- 2020
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Ingår i: The Review of Economic Studies. - : Oxford University Press (OUP). - 0034-6527 .- 1467-937X. ; 87:6, s. 2703-2726
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Tidskriftsartikel (refereegranskat)abstract
- We surveyed a large sample of Swedish lottery players about their psychological well-being 5–22 years after a major lottery event and analysed the data following pre-registered procedures. Relative to matched controls, large-prize winners experience sustained increases in overall life satisfaction that persist for over a decade and show no evidence of dissipating over time. The estimated treatment effects on happiness and mental health are significantly smaller. Follow-up analyses of domain-specific aspects of life satisfaction implicate financial life satisfaction as an important mediator for the long-run increase in overall life satisfaction.
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| 6. |
- Dawes, Christopher T, et al.
(författare)
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The Relationship Between Genes, Psychological Traits, and Political Participation
- 2014
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Ingår i: American Journal of Political Science. - : Wiley-Blackwell. - 0092-5853 .- 1540-5907. ; 58:4, s. 888-903
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Tidskriftsartikel (refereegranskat)abstract
- Recent research demonstrates that a wide range of political attitudes, beliefs, and behaviors canbe explained in part by genetic variation. However, these studies have not yet identied themechanisms that generate such a relationship. Some scholars have speculated that psychologicaltraits mediate the relationship between genes and political participation, but so far there havebeen no empirical tests. Here we focus on the role of three psychological traits that are believed toinuence political participation: cognitive ability, personal control, and extraversion. Utilizinga unique sample of more than 2,000 Swedish twin pairs, we show that a common genetic factorcan explain most of the relationship between these psychological traits and acts of politicalparticipation as well as predispositions related to participation. While our analysis is not adenitive test, our results suggest an upper bound for a proposed mediation relationship betweengenes, psychological traits, and political participation.
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| 7. |
- Oskarsson, Sven, 1971-, et al.
(författare)
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Pre-Birth Factors, Post-Birth Factors, and Voting : Evidence from Swedish Adoption Data
- 2014
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Ingår i: American Political Science Review. - : Cambridge University Press. - 0003-0554 .- 1537-5943. ; 108:1, s. 71-87
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Tidskriftsartikel (refereegranskat)abstract
- This article analyzes a rich Swedish data set with information on the electoral turnout of a largesample of adoptees, their siblings, their adoptive parents, and their biological parents. We use asimple regression framework to decompose the parent-child resemblance in voting into pre-birthfactors, measured by biological parents’ voting, and post-birth factors, measured by adoptive parents’voting. Adoptees are more likely to vote if their biological parents were voters and if they were assignedto families in which the adoptive parents vote. We find evidence of interactions between the pre- andpost-birth factors: the effect of the post-birth environment on turnout is greater amongst adoptees whosebiological mothers are nonvoters. We also show that the relationships between parental characteristics,such as education, and child turnout, persist even in the absence of a genetic link between parent andchild. The regression-based framework we utilize provides a basis for the integration of behavior-geneticresearch into mainstream political science.
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| 8. |
- Johannesson, Magnus, et al.
(författare)
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Heritability of Overconfidence
- 2009
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Ingår i: Journal of the European Economic Association. - : Oxford University Press (OUP): Policy B - Oxford Open Option D / Massachusetts Institute of Technology Press (MIT Press) / Oxford University Press (OUP): Policy F. - 1542-4766. ; 7:2-3, s. 617-627
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Tidskriftsartikel (refereegranskat)abstract
- Empirical evidence suggests that people on average overestimate their own ability in a variety of circumstances. Little is known, however, about the origins of such overconfidence. To shed some light on this issue, we use the classic twin design to estimate the genetic and environmental contributions to individual differences in overconfidence. We collect data on overconfidence among 460 twin pairs. Overconfidence is measured as the difference between the perceived and actual rank in cognitive ability. Cognitive ability is measured using a 20-minute test of general intelligence. We find a highly significant joint effect of genes and common environment, but our estimates of the relative contributions of genetic and common environmental variation are less precise. According to our point estimates, genetic differences explain 16–34% of the variation in overconfidence depending on the definition of overconfidence used and common environmental differences explain 5–11%. ; Economic Anthropology; Social and Economic Stratification
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| 9. |
- Mosing, Miriam A, et al.
(författare)
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Genetic and environmental influences on the relationship between flow proneness, locus of control and behavioral inhibition
- 2012
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Ingår i: PLOS ONE. - : Public library of science. - 1932-6203. ; 7:11, s. e47958-
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Tidskriftsartikel (refereegranskat)abstract
- Flow is a psychological state of high but subjectively effortless attention that typically occurs during active performance of challenging tasks and is accompanied by a sense of automaticity, high control, low self-awareness, and enjoyment. Flow proneness is associated with traits and behaviors related to low neuroticism such as emotional stability, conscientiousness, active coping, self-esteem and life satisfaction. Little is known about the genetic architecture of flow proneness, behavioral inhibition and locus of control - traits also associated with neuroticism - and their interrelation. Here, we hypothesized that individuals low in behavioral inhibition and with an internal locus of control would be more likely to experience flow and explored the genetic and environmental architecture of the relationship between the three variables. Behavioral inhibition and locus of control was measured in a large population sample of 3,375 full twin pairs and 4,527 single twins, about 26% of whom also scored the flow proneness questionnaire. Findings revealed significant but relatively low correlations between the three traits and moderate heritability estimates of .41, .45, and .30 for flow proneness, behavioral inhibition, and locus of control, respectively, with some indication of non-additive genetic influences. For behavioral inhibition we found significant sex differences in heritability, with females showing a higher estimate including significant non-additive genetic influences, while in males the entire heritability was due to additive genetic variance. We also found a mainly genetically mediated relationship between the three traits, suggesting that individuals who are genetically predisposed to experience flow, show less behavioral inhibition (less anxious) and feel that they are in control of their own destiny (internal locus of control). We discuss that some of the genes underlying this relationship may include those influencing the function of dopaminergic neural systems.
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| 10. |
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