Stock investors’ preference for short-term vs. long-term bonuses

Bonuses in the finance sector may be based on too short time intervals for environmental and social factors to be taken into account in investment decisions. We report two experiments to investigate whether investors prefer short-term to long-term bonuses. In Experiment 1 employing 27 undergraduates, preferences were measured for four short-term certain bonuses, evenly distributed across a time interval, and one certain long-term bonus at the end of the time interval. A majority chose the short-term bonuses, and in order for the long-term bonus to be equally preferred it had to be about 40% higher than the four added short-term bonuses. Experiment 2 employing another 36 undergraduates introduced outcome uncertainty that more accurately reflects the choices stock investors face. The participants again choose between a long-term bonus and four distributed short-term bonuses. It was shown that uncertainty made more participants prefer the long-term bonus to the added short-term bonuses than when the outcome was certain. A smaller increase of the long-term bonus of about 20% was now required to make it equally attractive as the four added short-term bonuses.     

Exploring the nonverbal facet of ethnic discrimination: a field experiment on anti-Roma racism in the Paris métro

A field experiment on the discrimination of Roma migrants from Eastern Europe was conducted in two stations of the Paris metro to explore the behaviors that may communicate misrecognition in everyday encounters. An actress asked for help to randomly chosen passengers on a metro platform, wearing a glaringly Romani skirt in the treatment condition but an unconspicuous middle-class style in the control condition. In interaction with the actress wearing the Romani skirt, passengers were found to enact the so-called “visual dominance pattern”, and male passengers in particular were found to keep greater distances. Reverse discrimination also occurred as women kept shorter distances from the actress bearing the ethnic stigma. Last, passengers helped less the stigmatized actress, but only in one of the two metro stations where trials were conducted.     

Weiterbilden und Weiterkommen? Non-formale berufliche Weiterbildung und Arbeitsmarktmobilität in Deutschland

Politicians and the business leaders regularly stress the importance of (further) education for individual life chances. Still, it is far from clear whether non-formal further training, i.?e. short training courses, which are the most common forms of further education in Germany, lead to career advancement. In this study, we analyze the impact of non-formal further training on labor market mobility using data from the German National Educational Panel Study (NEPS) over the period from 2009 to 2016. Event history models for discrete time intervals show that employer-provided courses reduce mobility and promote career stability, which contradicts hypotheses derived from human capital theory, which is commonly used in the literature. More concretely, employer-provided courses prevent downward mobility (safety net function), but also reduce upward mobility and firm changes. Based on these findings, we suggest that future research should consider transaction costs and the firm context as well as the distinction between employer-provided and non-employer-provided training.     

PROVIDING GLOBAL PUBLIC GOODS: ELECTORAL DELEGATION AND COOPERATION

This study experimentally examines the effect of electoral delegation on providing global public goods shared by several groups. Each group elects one delegate who can freely decide on each group member's contribution to the global public goods. Our results show that people mostly vote for delegates who assign equal contributions for every group member. However, in contrast to standard theoretical predictions for our delegation mechanism, unequal contributions across groups drive cooperation down over time, and it decreases efficiency by almost 50% compared to the selfish benchmark. This pattern is not driven by delegates trying to exploit their fellow group members, as indicated by theory. It is driven by conditional cooperation of delegates across groups. Since one of the potential sources of the resulting inefficiency is the polycentric nature of global public goods provision together with other‐regarding preferences, we use the term P‐inefficiency to describe our finding. (JEL C92, D72, H41)     

Resettlement challenges faced by refugee claimant families in Montreal: lack of access to child care

Adult refugee claimants experience several well‐documented post‐migratory challenges. Little is known about the resettlement process for refugee claimant families with children. This study reports on 75 open‐ended, in‐depth interviews with refugee claimant families in Montreal about their resettlement challenges and their proposed solutions to them. These interviews were conducted with 33 dyads and triads of children and parents attending a paediatric hospital. Experiences accessing formal and informal child care in Montreal were addressed. Subsequently, a comparative policy analysis was conducted on residency eligibility criteria for child care subsidization. Twenty‐eight out of 39 parents (73%) report a lack of informal or formal child care and 15 out of 33 families (39%) propose improving access to formal child care services. They describe a lack of informal child care as a result of reduced social networks, and affordability as a barrier to formal child care services. Refugee claimants are not eligible for subsidized child care in Quebec. A comparative policy analysis within Canada and comparable countries reveals that this situation is not unique to Quebec. However, most provinces and European countries offer child care subsidies to refugee claimants. Refugee claimants should qualify for child care subsidies. Social workers and community organizations should consider their clients' child care needs in designing programmes and services.