RISK PREFERENCES AND EXPECTED UTILITY: EVIDENCE FROM LABOR SUPPLY DATA

This paper adds to the growing body of evidence that observed risk preferences are not consistent with expected‐utility theory. Using the link between labor supply decisions and utility as outlined by Chetty (“A Bound on Risk Aversion Using Labor Supply Elasticities.” The American Economic Review, 96(5), 2006, 1821–34), I compute the curvature of utility over wealth for 3,900 individuals in the 1996 Panel Study of Income Dynamics. I then compare this estimate to a measure of relative risk aversion based on the respondents' answers to hypothetical gambling questions and find virtually zero correlation. Finally, I investigate how the two measures and their correlations change by demographic groups and risky behavior. (JEL C81, D80, J22)     

A hegemon fighting for equal rights: the dominant role of COC Nederland in the LGBT transnational advocacy network

Networks are alternatives to hierarchical organizational forms. However, actors in networks have different resources at their disposal, and more powerful participants will try to influence the network as a whole. We identify a dominant node in the European LGBT advocacy network, and explore whether a hegemonic actor in the transnational advocacy network will affect less powerful groups' issue framing. Our project uses software that locates the issue network on the internet, highlighting how transnational advocacy work and digital communication have become inextricably connected. We confirm that Cultuur – en Ontspannings Centrum, known as COC Netherland has higher‐than average centrality measures in the LGBT network. Noting the limitations of hyperlink analysis, we conduct a content analysis of select nodes illustrating the impact of a hegemon. We focus on marriage equality and find tentative support for our hypothesis: organizations with links to COC advocate for stronger forms of legalized same‐sex union than do organizations without ties.