Pennies from heaven? Conceptions and earmarking of lottery prize money,

The source of money has been shown to be important for how money is spent. In addition, sudden wealth is often associated with social and psychological risks. This article investigates if conceptions of lottery prize money – as a special kind of money – imply restrictions on how it can be spent. Analysis of interviews with lottery winners shows that interviewees use earmarking of the prize money as a strategy for avoiding the pitfalls associated with a lottery win. Conceptions of lottery prize money as ‘a lot’ or as ‘a little’, as shared or personal, and as an opportunity or a risk, influences the ends for which it is earmarked: for self‐serving spending, a ‘normal’ living standard, paying off loans, saving for designated purposes, or for economic security and independence. Clearly defining and earmarking lottery prize money thus helps lottery winners construe their sudden wealth, not as a risk, but as ‘pennies from heaven.’     

On the Use of Differing Money Transmission Methods by Mexican Immigrants1

Interest in the factors shapin migrants’use of a given money transmittal method has recently intensifiled following researchers’agreement on the often inadequate infrastructure surrounding remittances transfers. This concern has also captured the attention of government officials, who appear more eager to promote more efficient and safe transfers of emigrant's earnings given the otential that remittances hold for increasing resources at the disposal of receiving nations. This study uses data from Mexican immigrants who have resided in the United States to examine the various factors that shape migrants’use of the various methods to remit earnings to Mexico. We find, not surprisingly, that accessibility factors play a key role in explaining migrants’use of the various moneytransfer mechanisms. Migrants are less likely to use banks and more likely to use nonbank money‐transmitting services when they lack immigration documents. Additionally, migrants’awareness of alternative remitting methods, either through educational attainment, skill level, or networks of friends and family in the city to which they migrated, makes them more likely to use banks relative to the more expensive nonbank money‐transmittin mechanisms. In contrast, the use of informal money transfer mechanisms (cash in the mail and hand‐carried transfers) is more likely among workers with “less regular” employment ‐ such as self‐employed and specific‐task workers, more newly arrived migrants, and migrants remitting to rural and poorer areas.     

ECONOMICS COURSEWORK AND LONG‐TERM BEHAVIOR AND EXPERIENCES OF COLLEGE GRADUATES IN LABOR MARKETS AND PERSONAL FINANCE

Using survey data from over 2,000 students who attended one of four large public universities in 1976, 1986, or 1996, we investigate the relationship between taking more coursework in economics, or choosing economics as an undergraduate major, and a wide range of later decisions and outcomes in labor markets and personal finance, many of which have not been analyzed in earlier research. Generally, economics coursework and majoring in economics are significantly related to higher levels of earnings, home equity, and savings. They are also associated with working more hours and negatively related to completing graduate degrees (except the MBA). Among graduates with positive savings, those with more economics coursework invest more in individual stocks and money market accounts, and are more likely to have employer‐provided life insurance. They have fewer credit cards, which are more often paid in full each month. Most of these findings also hold for graduates who majored in business, but on average economics majors worked more hours and earned more than business majors, were more likely to have been self‐employed, and expected to retire at an older age. Business majors were more likely to have experienced a layoff, and were even less likely than economics majors to complete graduate degrees (except the MBA). Economics majors expected to save even more than business majors by retirement, and viewed short‐term and precautionary motives for saving as more important. Finally, our results suggest that exposure to economics through course‐taking is more important for later outcomes than actual performance in those courses. (JEL A22, J3, D12)     

End‐of‐Life Treatment Preferences Among Older Adults: An Assessment of Psychosocial Influences1

We explore the content and correlates of older adults’ end‐of‐life treatment preferences in two hypothetical terminal illness scenarios: severe physical pain with no cognitive impairment, and severe cognitive impairment with no physical pain. For each scenario, we assess whether participants would reject life‐prolonging treatment, accept treatment, or do not know their preferences. Using data from the 2004 wave of the Wisconsin Longitudinal Study (N = 5,106), we estimate multinomial logistic regression models to evaluate whether treatment preferences are associated with direct experience with end‐of‐life issues, personal beliefs, health, and sociodemographic characteristics. Persons who have made formal end‐of‐life preparations, persons with no religious affiliation, mainline Protestants, and persons who are pessimistic about their own life expectancy are more likely to reject treatment in both scenarios. Women and persons who witnessed the painful death of a loved one are more likely to reject treatment in the cognitive impairment scenario only. Consistent with rational choice perspectives, our results suggest that individuals prefer treatments that they perceive to have highly probable desirable consequences for both self and family.     

The Relationship Between Nonsuicidal Self‐Injury and Family Functioning: Adolescent and Parent Perspectives

We explored parent and adolescent reports of family functioning, how this differed if the parent was aware that their child self‐injured, and how parental awareness of self‐injury was related to self‐injury frequency, self‐injury severity, and help seeking. Participants were 117 parent–adolescent dyads, in 23 of which the adolescent self‐injured. Adolescents who self‐injured reported poorer family functioning than their parents, but parents who did not know about their child's self‐injury reported similar functioning to parents whose children did not self‐injure. Parents were more likely to know that their child self‐injured when the behavior was severe and frequent. Help‐seeking was more likely when parents knew about self‐injury. Family‐based interventions which emphasize perspective‐taking could be used to effectively treat self‐injury.     

Explaining the Gender Gap in Help to Parents: The Importance of Employment

Although it is well established that adult daughters spend more time giving assistance to their parents than do sons, the sources of this gender gap are not well understood. This paper asks: To what extent can this gap be explained by structural variation, especially the different rates of employment and kinds of jobs that women and men tend to hold? Using data from the National Survey of Families and Households (N = 7,350), the paper shows that both employment status and job characteristics, especially wages and self‐employment, are important factors in explaining the gender gap in the help given to parents, and that these operate similarly for women and men.     

CHARITABLE GIVING,EMOTIONS, AND THE DEFAULT EFFECT

We report an experiment to study the effect of defaults on charitable giving. In three different treatments, participants face varying default levels of donation. In three other treatments that are paired with the first three, they receive the same defaults, but are informed that defaults are thought to have an effect on their donation decisions. The emotional state of all individuals is monitored throughout the sessions using Facereading software, and some participants are required to report their emotional state after the donation decision. We find that the level at which a default is set has no effect on donations, and informing individuals of the possible impact of defaults also has no effect. Individuals who are happier and in a more positive overall emotional state donate more. Donors experience a negative change in the valence of their emotional state subsequent to donating, when valence is measured with Facereading software. This contrasts with the self‐report data, in which donating correlates with a more positive reported subsequent emotional state. (JEL C91)     

Are Baby Boomers Richer Than Their Parents? Intergenerational Patterns of Wealth Ownership in the United States

This study compares wealth ownership and mobility patterns among baby boomers and their parents to explore whether the baby boomers have fared as well during their working years and whether they will be as secure in retirement as their parents. Cohort comparisons using survey data indicate that baby boomers had accumulated more wealth as young adults than their parents had at a similar age. Estimates from a simulation model reveal that baby boomers had more wealth than their actual same‐sex parents at every stage of the life course. The simulation model also reveals that baby boomers were considerably more likely than their actual same‐sex parents to experience upward wealth mobility at each point in the life course. These results suggest that speculations that baby boomers may be the first generation to do worse than their parents are misleading.     

Women's Work? The Relationship between Farmwork and Gender Self‐Perception

Women have long been involved in agricultural production, yet farming and ranching have been associated with masculinity and men. In recent years women have become more involved and more likely to take active and equal roles on farms and ranches and thus increasingly are doing tasks that have been associated with masculinity. Prior work indicates that women are perceived by others as more masculine when they do these tasks, but less work has focused on the association between women's involvement in farming and women's own perceptions of their gender (i.e., how masculine or feminine they feel). Using 2006 survey data from a random sample of women in livestock and grain operations in Washington State, we find that women's involvement in farm and ranch tasks is associated with their gender self‐perception, with more involvement being associated with a more masculine self‐perception. Women who view their primary role as independent agricultural producers or full partners also perceive themselves as more masculine than women who view their primary role as homemaker. We discuss the implications of these findings for women's experiences in agriculture.     

WHAT MOTIVATES POLITICAL PREFERENCES? SELF‐INTEREST,IDEOLOGY, AND FAIRNESS IN A LABORATORY DEMOCRACY

Substantial prior literature has established that subjects in laboratory experiments are typically willing to sacrifice their own well being to make financial allocations more equal among participants. We test the applicability of this result in an environment that contains some of the key contextual issues that are usually excluded from more abstract games, but which might be important in situations involving income redistribution. Our general finding is that votes for a redistributive tax are almost entirely in accordance with self‐interest: above‐average earners vote for low tax rates and below‐average earners vote for high tax rates. A measure of subjects' preferences for fairness or equality, their self‐reported economic ideology, is not directly related to their voting behavior in this experiment. Because the ideology measure should be correlated with any intrinsic preferences regarding inequality aversion, we conclude that any preferences for fairness or inequality that our subjects possess are not strong enough to overcome self‐interest in this context. We do, however, find evidence for a possible indirect effect of ideology on choice behavior in that more conservative subjects tend to be more responsive to their self‐interest than the more liberal subjects. (JEL C90, D63)     

Giving from the Heart or from the Ego? Motives behind Remittances of the Second Generation in Europe

The aim of this article is to investigate the remittance behavior of host country‐born children of migrants – the second generation – in various European cities. We address the following question: Are second‐generation remitters driven more by altruism or by self‐interest? Data from “The Integration of the European Second Generation” (TIES) survey are utilized and encompass individuals with at least one migrant parent from Morocco, Turkey, or former Yugoslavia. Using logistic models, we test different classical theories on microeconomic determinants of remittances and add some additional expectations for the second generation. The results show that those second‐generation Moroccans, Turks, and former Yugoslavs who send money are motivated by two main reasons: Emotional attachment to their parents' home country (altruism motive) or to pay people who look after their investments or other material assets that are likely to be part of their preparation for “returning” (self‐interest – exchange motive). These two motives are not necessarily exclusive: As part of a well‐prepared return, to integrate easily once back “home,” it is not only relevant to ensure that people take care of one's investments and other material assets, but also to strengthen social ties and be well informed about the situation in the country of origin. This interpretation fits closely with the return model, which deserves more attention in the theoretical literature on remittances.     

WILLFUL BLINDNESS: THE INEFFICIENT REWARD STRUCTURE IN ACADEMIC RESEARCH

This article examines how economics departments judge research articles and assign credit to authors. It begins with a demonstration that only strictly prorated author credit induces researchers to choose e?cient sized teams. Nevertheless, survey evidence reveals that most economics departments only partially prorate authorship credit, implying excessive coauthorship. Indeed, a half‐century increase in coauthorship may be better explained by incomplete proration than by any increased specialization among authors. A possible explanation for the reliance on incomplete proration is the self‐interest of economists who are more likely to engage coauthorship—full professors. The self‐interest of senior faculty may also explain the relatively small role given to citations in senior promotions. A rational response by economists to the under‐proration of author credit is to engage in false authorship. Although false authorship is of dubious ethical status, it may have the perverse impact of improving the e?ciency of team production. Grossly excessive coauthorship, where little attention is paid to most authors listed on a paper, as found in some other academic disciplines, may be the path down which economics is headed if the reward structure is not altered. (JEL A14, O30, I23)     

THE RELIGIOUS OBSERVANCE OF RAMADAN AND PROSOCIAL BEHAVIOR

We investigate experimentally the impact on prosocial behavior of the religious observance of Ramadan. Our sample consists of male factory workers in a manufacturing facility in a Muslim country. In our between‐subjects' design, each worker is asked to allocate an amount of money between himself and a stranger. Specifically, we examine behavior of observants and nonobservants before and after the daily break of the Ramadan fast. We also examine behavior outside of Ramadan, where we treat alimentary abstention as akin to a long fasting period. We hypothesize and confirm that outside Ramadan, decision makers who abstain from any alimentary intake transfer less money to recipients relative to decision makers who do not abstain. Strikingly, this effect is reversed during the month of Ramadan. Specifically, observant workers who are in the midst of their Ramadan fast are far more generous to recipients than workers who have had their evening meal. Interestingly, observant and nonobservant workers after the daily break of the Ramadan fast and workers outside Ramadan that consumed aliments make statistically similar transfers. Our findings suggest that it is the interaction between alimentary abstention and religious observance that amplifies prosocial behavior during Ramadan, where fasting is part of the ritual. (JEL C91, C93, C72)     

Individual Wealth and Subjective Financial Well‐being in Marriage: Resource Integration or Separation?

Economic wealth is mostly assumed to be a household‐level resource that is pooled by spouses in married couples. Using comprehensive data on the individual wealth of both spouses in married couples from the German Socio‐Economic Panel Study (N = 13,623 individuals), the author tests this assumption. To this end, the associations between individuals' wealth and their spouses' wealth with individuals' subjective financial well‐being are examined. Results show that women's financial well‐being is equally associated with their own individual wealth and their spouses' wealth in older birth cohorts. In younger birth cohorts, women's financial well‐being is more strongly associated with their own individual wealth than with their spouses' wealth. For men from all birth cohorts, their own individual wealth is more strongly related to their financial well‐being than is their spouses' wealth. These findings suggest that wealth is not generally and fully pooled and that individual ownership matters within married couples in Germany.     

Resources,Family Organization,and Domestic Violence Against Married Women in Minya,Egypt

I evaluate the influence of household wealth, women's socioeconomic dependence, status inconsistency, and family organization on physical abuse in the prior year and attitudes about wife abuse and divorce among 2,522 married women in Minya, Egypt. Household wealth is negatively associated with physical abuse. Women who are dependent on marriage because they have sons and less schooling than their husbands are more likely to have experienced physical abuse and to report marginally more tolerance for such abuse. Women who are isolated from natal or biological kin and living with marital relatives are more likely to have experienced physical abuse. Findings underscore the role of women's dependence and social isolation in enabling physical abuse among women of all economic classes.     

Uneasy Settlements: Reparation Politics and the Meanings of Money in the Israeli Withdrawal from Gaza

Negotiations about reparations tend to take the language of interests and to deal primarily with monetary compensation for disadvantaged groups. In such proceedings, aggrieved claimants are likely to make a variety of claims about the use of money to represent their experience, ranging from demands for increased compensation to rejections of the entire process altogether. This article draws attention to the communicative functions of money in the reparation process. It claims that actors may grudgingly agree to attach a monetary value to what they hold sacred, but simultaneously strive to preserve their sense of self‐worth and to elicit identification by raising moral critiques about the use of fiscal logic. To exemplify, the article focuses on the 2005 removal of Jewish‐Israeli settlers from Israeli‐occupied territories. It shows that settlers indeed demanded to be compensated fiscally for their lost property. At the same time, it shows that they raised objections to the use of fiscal logic in representing their experience and offered alternate logics of evaluation. The settlers resisted shame and devaluation through such competing logics, demanding that the state reaffirm a positive and embracing relationship with them despite its decision to evict them.     

WARM‐GLOW GIVING: EARNED MONEY AND THE OPTION TO TAKE

Giving in dictator games has been shown to vary with the nature of the endowment (earned vs. house money) and the action space (give only vs. the option to give or take). This article is the first to test if these factors similarly affect warm‐glow giving alone. There is no reason that one would expect the same outcomes given that the motivations for warm‐glow giving are different from the motivations for total (warm‐glow plus purely altruistic) giving. We find that warm‐glow giving to charity or philanthropic institutions in a real‐donation experiment increases when the endowment is earned. The option to take does reduce warm‐glow giving to charity, but significant giving remains. Our results suggest that donating earned income creates greater utility than donating an equal amount from a windfall gain, and that warm glow comes not merely from the act of giving, but also from the characteristics of the recipient. (JEL C90, D64, H41)     

Movers as early adopters of linguistic innovation

Long‐distance migration is a primary source of language contact. Those who voluntarily migrate, though, may not resemble the broader population: psychological research suggests some factors that predispose people to become migrants also tend to lead to more openness to trying new things, potentially including linguistic features. This implies differential reactions to language contact, so inferences drawn from migrants may not generalize to the language‐contact process more generally. To test this hypothesis, this article examines lexical patterns in the 1940 United States census, focusing on who used the title mortician or funeral director rather than the traditional undertaker. Individuals who had moved from their state of birth were particularly likely to use the newer terms, even when explicitly controlling for the distribution of titles among the states from which the movers relocated. The personal characteristics leading people to encounter new linguistic environments may also independently affect their choices within those environments.     

Racialized Incorporation: The Effects of Race and Generational Status on Self‐Employment and Industry‐Sector Prestige in the United States

This study examines how race and generational status shape self‐employment propensities and industry‐sector prestige among the self‐employed in the U.S. It draws on theories of assimilation, racialization, and a combined framework, racialized incorporation, to guide the analysis and interpret the results. It uses data from the U.S. March Current Population Survey (2000–2010) offering the first nationally representative examination of second‐generation self‐employment in the U.S. This study investigates three questions. First, do the odds of being self‐employed decline in the second and third generations? Second, do generational patterns in self‐employment propensities vary by race? And finally, do race and generational status affect the odds of being self‐employed in low‐, medium‐, and high‐prestige industry sectors? Results offer some support for the assimilation perspective: Immigrants are generally more likely than third‐generation groups to be self‐employed with the exception of Asians, where second‐generation Asians have the greatest odds of being self‐employed. However, results also reveal that generational patterns in self‐employment propensities vary by race and industry‐sector prestige. Accordingly, first‐ and second‐generation whites have the greatest odds of being self‐employed (across all levels of industry‐sector prestige), and third‐generation whites are more likely than all generations of blacks and Hispanics to be engaged in high‐prestige self‐employment. These findings suggest that immigrants, their offspring, and native‐born groups undergo a racialized incorporation in which self‐employment is organized along hierarchical and racial lines associated with uneven levels of prestige.     

FIRMS' EXPECTATIONS ABOUT THE IMPACT OF AI AND ROBOTICS: EVIDENCE FROM A SURVEY

This study presents new evidence on firms' views about the impact of artificial intelligence (AI) and robotics on their business and employment, using data from an original survey of more than 3,000 Japanese firms. The focus of this study is on technology‐skill complementarity. Firms with highly educated employees tend to expect positive impacts of AI‐related technologies on their business, and vice versa. Larger firms and firms that engage in global markets tend to have positive views about the impacts of AI‐related technologies. (JEL O33, J23, J24, M15)